Mawson Infrastructure Group (MIGI) AI Stock Analysis

• Market Cap: $11.46M
• Dividend Yield: N/A
• Average Volume (3M): 446.72K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.75
• Revenue Growth: -0.67%
• EPS Growth: 65.35%
• Country: US
• Employees: 33
• Sector: Financial
• Sector Strength: 81
• Industry: Financial - Capital Markets
• EPS (TTM): -0.02
• Shares Outstanding: 19,796,911
• 10 Day Avg. Volume: 707,375
• 30 Day Avg. Volume: 446,717
• PEG Ratio: >-0.01
• Price to Book (P/B): -6.89
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -13.65
• Enterprise Value/Market Cap: 2.66
• Enterprise Value/Revenue: 0.13
• Enterprise Value/Gross Profit: 1.59
• Enterprise Value/Ebitda: -0.47
• 1Y Price Target: $0.50
• Price Target Upside: -3.85% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 45 Neutral
• Price Target: $0.50 ▼(-3.85%Downside)

The overall stock score of 45 reflects significant financial challenges and valuation concerns, which are somewhat offset by technical analysis signals and positive corporate events in revenue growth. However, governance issues and legal actions add to the risk profile, requiring cautious evaluation.

Positive Factors

Earnings Performance

Mawson reported its full-year results including sales of $59.3M, up 36% from $43.6M, against a difficult bitcoin economic backdrop, fully illustrating the company's move to hosting versus self-mining.

Revenue Growth

Mawson's hosting-focused business model saw revenue up 27% year over year to $10.4M.

Strategic Partnerships

Mawson announced a three-year, 64MW mining hosting agreement, with potential customers such as BitFuFu, Cango Inc., and Antalpha Platform.

Negative Factors

Debt Levels

The company faces risks in its debt levels and the battle for the Sharon, PA site, for which the company believes it has claims.

Legal Risks

Mawson has two lawsuits to work through, one surrounding its Australian-based debts, the other involving the lease on the Sharon site.

Market and Operational Risks

An investment in Mawson Infrastructure Group includes risks such as bitcoin's pricing and network hash rate volatility, limited operating history as a larger industrial bitcoin miner, potential dilution, and recent fund-raising behavior.

Mawson Infrastructure Group Business Overview & Revenue Model

Company Description

Mawson Infrastructure Group (MIGI) is a digital infrastructure provider focused on the blockchain and digital asset ecosystem. The company specializes in the operation and management of cryptocurrency mining facilities, offering efficient and scalable solutions for digital currency production. With a commitment to sustainability, Mawson Infrastructure Group integrates renewable energy solutions to power its mining operations, aiming to reduce its carbon footprint and promote environmentally responsible practices within the industry.

How the Company Makes Money

Mawson Infrastructure Group makes money primarily through cryptocurrency mining operations. The company operates large-scale mining facilities that solve complex mathematical problems to validate transactions on the blockchain, earning cryptocurrency rewards in return. These rewards, typically in the form of Bitcoin or other digital currencies, are then either held as assets or sold on the market for revenue. Additionally, MIGI may generate income through hosting services, where it provides infrastructure and management for third-party clients' mining equipment, charging fees for the use of its facilities and expertise. Strategic partnerships with energy providers and technology firms also play a role in optimizing operational efficiency and lowering costs, thereby enhancing profitability.

Mawson Infrastructure Group Financial Statement Overview

Summary

Mawson Infrastructure Group's financial performance is weak, with recurring losses, declining revenues, high leverage, and negative equity. Cash flow shows some positive operational cash generation but remains insufficient due to negative free cash flow. Overall, financial instability poses significant risks.

Income Statement

The income statement reveals significant challenges, with persistent net losses and negative EBIT and EBITDA margins. Revenue has been volatile, with recent declines impacting profitability. Although gross profit margin remains positive, the overall financial health is concerning due to substantial net income losses and declining revenue trends.

Balance Sheet

The balance sheet highlights financial instability, with a negative stockholders' equity and high debt levels. The debt-to-equity ratio cannot be calculated due to negative equity, indicating potential solvency risks. The equity ratio is also negative, underscoring the company's leveraged position and vulnerability.

Cash Flow

Cash flow analysis shows some resilience with positive operating cash flow in the TTM, but free cash flow remains negative, reflecting ongoing capital challenges. The operating cash flow to net income ratio is high due to significant net losses, suggesting operational inefficiencies. Free cash flow growth is negative, indicating cash management issues.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	59.27M	43.57M	84.39M	43.86M	4.45M
Gross Profit	20.28M	15.02M	36.67M	33.96M	1.29M
EBITDA	-23.43M	-10.03M	16.85M	-4.59M	-1.19M
Net Income	-46.13M	-60.42M	-52.76M	-44.96M	-5.03M
Balance Sheet
Total Assets	61.44M	84.77M	133.33M	145.29M	3.19M
Cash, Cash Equivalents and Short-Term Investments	6.09M	4.48M	946.26K	5.47M	3.08M
Total Debt	25.28M	21.87M	31.26M	22.97M	287.00K
Total Liabilities	64.68M	54.38M	57.16M	30.71M	7.34M
Stockholders Equity	-3.24M	29.24M	77.07M	114.75M	-4.15M
Cash Flow
Free Cash Flow	1.60M	-7.90M	-67.78M	-105.22M	-1.52M
Operating Cash Flow	3.56M	-2.55M	14.26M	22.95M	-1.52M
Investing Cash Flow	-1.12M	10.74M	-32.54M	-128.25M	823.00K
Financing Cash Flow	-830.07K	-4.65M	13.99M	109.85M	197.00K

Mawson Infrastructure Group Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.52
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MIGI, the sentiment is Neutral. The current price of 0.52 is above the 20-day moving average (MA) of 0.47, below the 50-day MA of 0.54, and below the 200-day MA of 0.88, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 51.87 is Neutral, neither overbought nor oversold. The STOCH value of 62.06 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for MIGI.

Mawson Infrastructure Group Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	67 Neutral	$16.86B	11.82	9.77%	3.72%	12.02%	-8.27%
MARA	55 Neutral	$6.76B	9.58	-10.61%	―	40.57%	-152.87%
GRYP	52 Neutral	$97.95M	―	173.25%	―	―	―
GREE	48 Neutral	$27.33M	―	22.29%	―	-20.28%	48.08%
ABTS	47 Neutral	$13.94M	―	-8.39%	―	―	―
MIGI	45 Neutral	$11.46M	―	-461.16%	―	-0.67%	65.35%
ARBK	37 Underperform	$22.58M	―	242.25%	―	―	―

Mawson Infrastructure Group Corporate Events

Mawson Infrastructure Group CEO Termination and Lawsuit

On July 8, 2025, Mawson Infrastructure Group Inc. terminated Rahul Mewawalla’s employment as CEO and President for cause, resulting in the forfeiture of his unvested restricted stock units. The company also requested his resignation from the Board, which was effective immediately. Additionally, Mawson filed a lawsuit against Mewawalla in the Delaware Court of Chancery, alleging breach of fiduciary duties and fraud.

Mawson Infrastructure Highlights Revenue Growth in 2024

On April 21, 2025, Mawson Infrastructure Group Inc. released an updated company presentation highlighting significant growth in its digital colocation and energy management revenues, with a 136% year-over-year increase in digital colocation revenue and a 42% increase in energy management revenue for 2024. The company also reported a 31% increase in operating hash rate, funded entirely through cash from operations, and plans to further expand its operational capacity and enterprise customer base, indicating a strong positioning in the digital infrastructure market.