Mawson Infrastructure Group Inc. (NASDAQ: MIGI) announced it entered into a cooperation agreement with The Endeavor Investor Group, resulting in five new board appointments and three departures from its board of directors.

The company appointed three independent directors: Kyle B. Danges, K. Rodger Davis and Lisa R. Hough. Two Endeavor affiliates, Cody Smith and Phillip Stanley, also joined the board. The changes took effect immediately.

Ryan Costello, Kathryn Schellenger and Steven Soles stepped down from the board as part of the agreement. Costello, the departing board chair, stated the board "unanimously determined that entering into an agreement with Endeavor is the best path forward for Mawson and in the best interest of all shareholders."

Joshua Kilgore, Managing Member of Endeavor Blockchain, LLC, said the group "believe Mawson has the potential to become a valuable digital infrastructure platform."

The cooperation agreement includes standstill provisions and will be filed as an exhibit to a Form 8-K with the U.S. Securities and Exchange Commission, according to the company's statement.

Mawson operates digital infrastructure platforms for artificial intelligence, high performance computing, digital assets including Bitcoin mining, and other compute applications. The company reports having 129 megawatts of capacity online with additional capacity under development.

The Pennsylvania-based company provides both self-mining operations and colocation services for enterprise customers through what it describes as a vertically integrated infrastructure model.