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General | 12 Months Ended
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Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
GENERAL |
NOTE 1:- | GENERAL
| a. | Mawson Infrastructure Group, Inc. (the “Company” or “Mawson” or “the Group”), formerly known as Wize Pharma, Inc was incorporated in the State of Delaware on April 2, 2012. Prior to that, we were originally incorporated under the name Bridge Capital.com, Inc on December 10, 1999. The accompanying consolidated financial statements, including the results of the Company’s subsidiaries, Mawson Infrastructure Group Pty Ltd (formerly known as Cosmos Capital Limited) (“Mawson AU”)) and its subsidiaries: Cosmos Trading Pty Ltd, Cosmos Infrastructure LLC, Cosmos Manager LLC, MIG No.1 Pty Ltd (formerly known as Cosmos Grid Tech Pty Ltd), Cosmos Asset Management Pty Ltd, Luna Squares LLC, BITTD Pty Ltd, Luna Squares Repairs LLC (incorporated October 29, 2021), Luna Squares Property LLC (incorporated July 9, 2021) and Mawson Mining LLC (incorporated October 29, 2021) (collectively referred to as the “Group”), have been prepared by the Company, pursuant to the rules and regulations of the Securities and Exchange Commission (SEC) and in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). Since the acquisition of Mawson AU, Mawson has been treated as the acquiree, with Mawson AU being the acquirer. The result of which is that these financial statements are taken to be a continuation of the Mawson AU financial statements, with Mawson incorporated within the acquisition. For discussion regarding this acquisition and treatment (also referred to as either the “Mawson AU Transaction” or the “Cosmos Transaction”) please refer to Note 4: Acquisitions. Mawson, through its subsidiary Mawson AU, is a ‘Digital Asset Infrastructure’ business, which owns and operates modular data centers (MDCs) based in the United States and Australia. As at December 31, 2021 Mawson AU currently owns and has ordered 39,225 Miners specifically focused on the SHA-256 algorithm, from a variety of manufacturers, including Bitmain Technology Holding Company (“Bitmain”), Canaan Creative (HK) Holdings Limited (“Canaan”) and Shenzhen MicroBT Electronics Technology Co., Ltd (“Whatsminer”).
| b. | Going concern:
The Company reports conditions which raise substantial doubt about the Company’s ability to continue as a going concern. These conditions are an operating loss of $42.67 million and net current liabilities of $8.63 million. Management’s plan to alleviate the substantial doubt regarding the Company’s ability to continue as a going concern and meet it’s obligations for at least one year from the date of approval of the consolidated financial statements include, raising new capital, improving profitability and generating sufficient cash flow from operations.
| c. | Initial Public Offering:
On September 28, 2021, the Company completed an initial public offering (“IPO”) in which it issued common stock for net proceeds of $41.23 million, after deducting underwriter fees and estimated offering expenses.

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