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Commitments and Contingencies
 12 Months Ended
Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES
NOTE 15:- COMMITMENTS AND CONTINGENCIES

 

  Agreements:

 

1.In connection with the Cosmos Transaction, we issued one CVR to each of our securityholders for each outstanding share of common stock of Mawson, and for each share of common stock of Mawson underlying other convertible securities and warrants, held immediately before the closing of the Cosmos Transaction. Each CVR represents the right to receive a pro rata share of any consideration that we may receive in connection with any successful monetization of our LO2A business, less transaction expenses and customary deductions as detailed in the CVR agreement, including a deduction of up to $300,000 to be repaid to us for amounts we spend in the development of the LO2A Technology at the request of the Holders’ Representative. As at December 31, 2021 the Company cannot reliably measure the cost of the CVRs and it is not probable that these payments will be made and therefore this has been classified as a contingent liability.

 

2.

On February 5, 2021, Infrastructure entered into a Long-Term Purchase Contract with Canaan for the purchase of 11,760 next generation Avalon A1246 ASIC Miners. The purchase price per unit is $2,889 for a total purchase price of $33,974,000. As at December 31, 2021 the Company had paid $30,799,440 in relation to this contract with the remaining balance owed at the end of the year.

 

3.

On August 9, 2021, Infrastructure entered into a second Long-Term Purchase Contract with Canaan for the purchase of 15,000 next generation Avalon A1246 ASIC Miners. The purchase price per unit is $4,908 for a total purchase price of $73,620,000. As at December 31, 2021 the Company had paid $39,330,000 in relation to this contract with the remaining balance owed at the end of the year.