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Acquisitions | 12 Months Ended
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Dec. 31, 2022
Acquisition Disclosure [Abstract] |
ACQUISITIONS |
NOTE 4:- | ACQUISITIONS
Tasmania Data Infrastructure Pty Ltd During June 2022 the Company, through its wholly owned subsidiary Mawson AU Limited entered into a License and Services Agreement with Tasmania Data Infrastructure Pty Ltd (“TDI”) in exchange for 42,562,432 fully paid issued shares in TDI. Mawson AU Limited entered into a further sale agreement during September 2022 to sell a MDC to TDI in exchange for a further 10,000,000 fully paid issued shares in TDI. Mawson AU Limited entered into a further agreement with TDI during November 2022 to sell a 2,144 ASIC Bitcoin Miners to TDI in exchange for a further 107,042,254 fully paid issued shares in TDI, this sale was effective on November 23, 2022.
Consideration: |  |  |
($ in thousands) |  | Fair Value |
Intellectual property, and Equipment |  | $ | 4,159,452 |
Total Consideration |  | $ | 4,159,452 |
Less impairment |  | $ | (2,060,779 | )
Total |  |  | 2,098,673 |
|  | Preliminary |
|  | Allocation at |
Purchase Price Allocation |  | Acquisition |
($ in thousands) |  | Date |
Other assets |  | $ | 170,771 |
Equipment |  |  | 1,453,529 |
Intellectual property |  |  | 505,417 |
Payables |  |  | (31,044 | )
Total |  | $ | 2,098,673 |
From November 23, 2022, Mawson AU Limited became a 34.9% shareholder of TDI and therefore was accounted for as an equity investment from this date under ASC 323 Investments – Equity Method and Joint Ventures (ASC 323). Prior to November 23, 2022, when Mawson did not have significant control of TDI it was accounted at fair value using ASC 321 Investments — Equity Securities (ASC 321). An impairment to the investment in TDI was recognized of $2.06 million.

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- Definition The entire disclosure for asset acquisition. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 50 -Section 15 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=6911878&loc=d3e8732-128492 + Details
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