Mawson Infrastructure (MIGI) 10-Q 15 Nov 21 2021 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Nov. 15, 2021
Document Information Line Items
Entity Registrant Name	Mawson Infrastructure Group Inc.
Trading Symbol	MIGI
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		69,001,071
Amendment Flag	false
Entity Central Index Key	0001218683
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Sep. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-40849
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	88-0445167
Entity Address, Address Line One	Level 5
Entity Address, Address Line Two	97 Pacific Highway
Entity Address, City or Town	North Sydney
Entity Address, Country	AU
Entity Address, Postal Zip Code	2060
City Area Code	+61 2
Local Phone Number	8624 6130
Title of 12(b) Security	Common Stock, par value $0.001 per share
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 32,383,397	$ 1,112,811
Prepaid expenses	624,904	11,500
Trade and other receivables	19,005,043	615,145
Cryptocurrencies	75,271	15,061
Total current assets	52,088,615	1,754,517
Property and equipment, net	27,471,844	7,015,285
Equipment deposits	33,195,637
Equity accounted investments	90,457
Security deposits	1,650,415	969,423
Operating lease right-of-use asset	3,285,199	41,703
Trademarks		15,813
TOTAL ASSETS	117,782,167	9,796,741
Current liabilities:
Trade and other payables	3,134,868	1,882,247
Lease liability	3,339,019	44,637
Borrowings	469,082	290,978
Total current liabilities	6,942,969	2,217,862
Paycheck protection program loan	14,058	14,000
TOTAL LIABILITIES	6,957,027	2,231,862
Common stock (120,000,000 authorized, 69,001,071 issued and outstanding $0.001 par value shares). Series A preferred stock (1,000,000 authorized shares; nil issued and outstanding at 30 September 2021)
Contingencies
Shareholders’ equity:
Additional paid-in capital	165,769,775	35,110,000
Share subscription receivable		(16,690)
Accumulated other comprehensive income (loss)	(850,427)	(1,341,826)
Accumulated deficit	(53,611,944)	(26,159,539)
TOTAL SHAREHOLDERS’ EQUITY	111,307,404	7,591,945
Non-controlling interest	(482,264)	(27,066)
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 117,782,167	$ 9,796,741

Consolidated Condensed Balanc_2

Consolidated Condensed Balance Sheets (Parentheticals) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Common stock authorized	120,000,000	120,000,000
Common stock issued	69,001,071	69,001,071
Common stock outstanding	69,001,071	69,001,071
Common stock par value (in Dollars per share)	$ 0.001	$ 0.001
Series A preferred stock
Preferred stock authorized	1,000,000	1,000,000
Preferred stock issued
Preferred stock outstanding

Consolidated Condensed Statemen

Consolidated Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenues:
Cryptocurrency mining revenue	$ 10,151,579	$ 966,574	$ 21,029,492	$ 2,850,086
Hosting Co Location revenue	796,207		1,020,424
Sale of crypto currency mining equipment			2,157,651
Total revenues	10,947,786	966,574	24,207,567	2,850,086
Operating cost and expenses:
Cost of revenues	2,499,837	922,502	6,218,145	2,210,113
Selling, general and administrative	5,510,083	745,243	11,334,551	1,743,353
LO2A write backs			23,963,050	399
Share based payments	1,425,000		21,779,898
Depreciation and amortization	4,129,862	2,592,352	7,977,800	5,047,917
Total operating expenses	13,564,782	4,260,097	71,273,444	9,001,782
Loss from operations	(2,616,996)	(3,293,523)	(47,065,877)	(6,151,696)
Other income (expense):
Realized gain/(losses) on foreign currency transactions	(8,625)	754	838,230	(288)
Unrealized gain/(losses) on foreign currency remeasurement	(351,562)	(255,471)	(1,920,879)	(88,502)
Share of net profit/(loss) of associates accounted for using the equity method	(153,123)		(277,817)
Other income	32,431		502,673	108,895
Loss before income taxes	(3,097,875)	(3,548,240)	(47,923,670)	(6,131,591)
Income tax expenses
Net Loss	(3,097,875)	(3,548,240)	(47,923,670)	(6,131,591)
Loss attributable to Non-Controlling interest	(594,389)		(660,191)
Net Loss attributed to Mawson Infrastructure Group shareholders	$ (2,503,486)	$ (3,548,240)	$ (47,263,479)	$ (6,131,591)
Net Loss per share, basic & diluted (in Dollars per share)	$ (0.042)	$ (0.494)	$ (0.275)	$ (0.893)
Weighted average number of shares outstanding (in Shares)	502,642,831	6,847,465	472,987,017	6,847,465

Consolidated Condensed Statem_2

Consolidated Condensed Statements of Stockholders’ Equity (Unaudited) - USD ($)	Series APreferred Stock	Preferred Stock	Common Shares	Common Stock	Share Subscription Receivable	Additional Paid-in- Capital	Accumulated Other Comprehensive Income/ (Loss)	Accumulated Deficit	Total Mawson Stockholders’ Equity	Non- controlling interest	Total
Balance at Dec. 31, 2019			$ 9,093,549				$ (217,003)	$ (1,447,092)	$ 7,429,454		$ 7,429,454
Balance (in Shares) at Dec. 31, 2019			6,578,672
Issuance of common stock, net of offering costs			$ 1,738,508						1,738,508		1,738,508
Issuance of common stock, net of offering costs (in Shares)			268,793
Issuance of common stock, net of offering costs (@A$8.75)						1,768,250			1,768,250		1,768,250
Issuance of common stock, net of offering costs (@A$8.75) (in Shares)			331,368
Comprehensive gain / (loss)						3,401,739	227,899	(6,131,591)	(5,903,692)		(5,903,692)
Balance at Sep. 30, 2020			$ 10,832,057			1,768,250	10,896	(7,578,683)	5,032,520		5,032,520
Balance (in Shares) at Sep. 30, 2020			7,178,833
Balance at Jun. 30, 2020			$ 10,832,057				(308,605)	(4,030,443)	6,493,009		6,493,009
Balance (in Shares) at Jun. 30, 2020			6,847,465
Issuance of common stock (@A$8.75)						1,768,250			1,768,250		1,768,250
Issuance of common stock (@A$8.75) (in Shares)			331,368
Comprehensive gain / (loss)							319,501	(3,548,240)	3,228,739		(3,228,739)
Balance at Sep. 30, 2020			$ 10,832,057			1,768,250	10,896	(7,578,683)	5,032,520		5,032,520
Balance (in Shares) at Sep. 30, 2020			7,178,833
Balance at Dec. 31, 2020			$ 7,539,275		(16,690)	15,298,926	(1,341,826)	(6,348,465)	15,131,220	(27,066)	15,104,154
Balance (in Shares) at Dec. 31, 2020
Exchange of stock and Reverse recapitalisation of Wize Pharma Inc			$ (7,539,275)	$ 511,882		(5,436,541)			(12,463,934)		(12,463,934)
Exchange of stock and Reverse recapitalisation of Wize Pharma Inc (in Shares)		178		51,188,168
Issuance of common stock, net of offer costs, PIPE transaction				$ 25,000		2,975,000			3,000,000		3,000,000
Issuance of common stock, net of offer costs, PIPE transaction (in Shares)				2,500,000
Issuance of convertible notes, net of offer costs						20,301,427			20,301,427		20,301,427
Issuance of convertible notes, net of offer costs (in Shares)
Issuance of warrants						6,881,676			6,881,676		6,881,676
Issuance of common stock, net of offering costs / at-the market offerings			$ 30,613	$ 8,592		74,908,585			74,947,790		74,947,790
Issuance of common stock, net of offering costs / at-the market offerings (in Shares)				8,591,948
Fair value of IPR&D acquired, net of Business Combination transaction costs						24,765,831			24,765,831		24,765,831
Fair value of IPR&D acquired, net of Business Combination transaction costs (in Shares)
Fair value adjustment of LO2A intellectual property revenue sharing obligation						5,440,863			5,440,863		5,440,863
Fair value adjustment of LO2A intellectual property revenue sharing obligation (in Shares)
Issuance of common stock, on conversion of convertible notes				$ 63,627					63,627		63,627
Issuance of common stock, on conversion of convertible notes (in Shares)				6,362,690
Issuance of common stock, exercise of warrants				$ 116					116		116
Issuance of common stock, exercise of warrants (in Shares)				11,590
Issuance of common stock, stock based compensation			(30,613)	$ 5,540,023		197,778			5,707,188		5,707,188
Issuance of common stock, stock based compensation (in Shares)				212,320
Issuance of common stock, settlement of convertible note interest				$ 8,691		854,778			863,469		863,469
Issuance of common stock, settlement of convertible note interest (in Shares)				86,959
Issuance of common stock, conversion of Series A preferred stock (in Shares)		(178)		17,800
Issuance of RSU's and stock options						13,254,121			13,254,121		13,254,121
Issuance of stock by subsidiary to non-controlling interest						163,039			163,039	204,993	368,032
Other				$ (12,272)	16,690	18,633			23,051		23,051
Other (in Shares)				29,596
Net loss								(47,263,479)	(47,263,479)		(47,263,479)
Other comprehensive income							491,399		491,399		491,399
Non-controlling interest										(660,191)	(660,191)
Balance at Sep. 30, 2021				$ 6,145,659		159,624,116	(850,427)	(53,611,944)	111,307,404	(482,264)	110,825,140
Balance (in Shares) at Sep. 30, 2021				69,001,071
Balance at Jun. 30, 2021				$ 6,058,095	(16,690)	80,638,319	(6,038,270)	(51,108,458)	29,532,996	(92,868)	29,440,128
Balance (in Shares) at Jun. 30, 2021	178			49,469,490
Issuance of common stock, net of offering costs / at-the market offerings				$ 8,592		74,908,585			74,917,177		74,917,177
Issuance of common stock, net of offering costs / at-the market offerings (in Shares)				8,591,948
Issuance of common stock, on conversion of convertible notes				$ 63,627					63,627		63,627
Issuance of common stock, on conversion of convertible notes (in Shares)				6,362,690
Issuance of common stock, stock based compensation				$ 2,222		197,778			200,000		200,000
Issuance of common stock, stock based compensation (in Shares)				22,222
Issuance of common stock, settlement of convertible note interest				$ 8,691		750,206			758,897		758,897
Issuance of common stock, settlement of convertible note interest (in Shares)				86,907
Issuance of common stock, conversion of Series A preferred stock
Issuance of common stock, conversion of Series A preferred stock (in Shares)	(178)			17,800
Issuance of RSU's and stock options						2,983,318			2,983,318		2,983,318
Issuance of stock by subsidiary to non-controlling interest						163,039			163,039	204,993	368,032
Other				$ 4,432	16,690	(17,129)			3,993		3,993
Other (in Shares)				4,450,014
Net loss								(2,503,486)	(2,503,486)		(2,503,486)
Other comprehensive income							5,187,843		5,187,843		5,187,843
Non-controlling interest										(594,389)	(594,389)
Balance at Sep. 30, 2021				$ 6,145,659		$ 159,624,116	$ (850,427)	$ (53,611,944)	$ 111,307,404	$ (482,264)	$ 110,825,140
Balance (in Shares) at Sep. 30, 2021				69,001,071

Consolidated Condensed Statem_3

Consolidated Condensed Statements of Stockholders’ Equity (Unaudited) (Parentheticals) - $ / shares	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Statement of Stockholders' Equity [Abstract]
Stock price	$ 8.75
Net of offering costs per share		$ 8.75

Consolidated Condensed Statem_4

Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (47,923,670)	$ (6,131,591)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	7,977,800	5,047,917
LO2A write offs	23,963,050
Investment income	(33,153)
Share of loss of equity accounted investments	277,817
Interest expense	1,077,599	1,607
Interest paid	(937,255)
Share based payments	21,779,898
Write-off of fixed assets	307,100
Unrealized gain (losses) on foreign currency remeasurement	1,920,879	88,502
Change in assets and liabilities
Prepaid expenses	(613,404)	25,530
Trade and other receivables	203,926	49,186
Cryptocurrencies	(60,210)	(219)
Security deposits	(680,992)	(805)
Trade and other payables	1,077,892	174,418
Net cash provided by operating activities	8,337,277	(745,455)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment	(30,888,288)	(2,172,595)
Payment of fixed asset deposits	(33,195,637)
Proceeds from sales of property and equipment	2,157,651
Investment in financial assets	(335,122)	(7,118)
Net cash used in investing activities	(62,261,396)	(2,179,713)
CASH FLOWS FROM FINANCING ACTIVITES
Proceeds from common share issuances	70,917,563	3,783,919
Unit redemptions
Proceeds from convertible notes	20,301,427
Payments of capital issuance costs	(5,212,209)
Proceeds from borrowings	1,423,088	302,881
Advances made to external companies	(42,210)
Payments of borrowings	(1,361,233)	(250,130)
Net cash provided by financing activities	86,026,426	3,836,670
Effect of exchange rate changes on cash and cash equivalents	(831,720)	23,915
Net increase in cash and cash equivalents	31,270,587	935,417
Cash and cash equivalents at beginning of period	1,112,811	579,277
Cash and cash equivalents at end of period	$ 32,383,397	$ 1,514,695

General

General	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GENERAL	NOTE 1 – GENERAL General 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 unaudited interim condensed 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, Cosmos Grid Tech Pty Ltd, Cosmos Asset Management Pty Ltd, and Luna Squares LLC (formerly known as Innovative Property Management LLC), (collectively referred to as the “Group”), have been prepared by the Company, without audit, 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”). Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Since Mawson acquired Mawson AU on March 9, 2021, it has managed most of its activity through Mawson Infrastructure Group Pty Ltd (formerly known as Cosmos Capital Limited), an Australian incorporated company, and its subsidiaries, Cosmos Trading Pty Ltd, Cosmos Infrastructure LLC, Cosmos Manager LLC, Cosmos Grid Tech Pty Ltd, Cosmos Asset Management Pty Ltd, and Luna Squares LLC (formerly known as Innovative Property Management LLC). 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 the Company’s Quarterly Report on Form 10-Q filed on May 19, 2021, under Note 2: Reverse asset acquisition. 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. As at September 30, 2021 Mawson AU currently owns and has ordered 35,784 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”). As at September 30, 2021, the operational Miners produce up to 400 Petahash of computing power, with a total capacity upon deployment of all ordered equipment to produce up to a 3,062 Petahash. Going Concern Based on internally prepared forecast cash flows, combined with the existing cash reserves, which take into consideration what management of the Group considers reasonable scenarios given the inherent risks and uncertainties described both in this Quarterly Report on Form 10-Q and the Company’s Current Report on Form 8-K/A filed May 13, 2021, management believes that the Group will have adequate cash reserves to enable the Group to meet its obligations for at least one year from the date of approval of the consolidated financial statements, and on this basis the accounts have been prepared on a going concern basis.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation and basis of preparation Pursuant to that certain Certificate of Amendment to the Certificate of Incorporation of the Company dated August 11, 2021, Mawson executed a 10-for-1 reverse stock split of its outstanding common stock and reduced its authorized common stock to 120,000,000 shares, as set forth in the Company’s Current Report on Form 8-K/A filed August 16, 2021. Unless otherwise specified, all Mawson share numbers in the Financial Statements and Notes in this Quarterly Report on Form 10-Q reflect post-reverse stock split numbers. These consolidated, condensed interim financial statements should be read in conjunction with the audited consolidated financial statements for Cosmos Capital Limited (now known as Mawson Infrastructure Group Pty Ltd) and subsidiaries as of December 31, 2020, and the notes thereto, included in the Company’s Current Report on Form 8-K/A filed May 13, 2021. The results of the interim periods are not necessarily indicative of the results to be expected for the full year ended December 31, 2021. These consolidated condensed interim financial statements reflect all adjustments which, in the opinion of management, are necessary to present fairly the financial position, the results of operations and cash flows of the Company for the periods presented. Any changes in the Company’s ownership interest in a consolidated subsidiary, through additional equity issuances by the consolidated subsidiary or from the Company acquiring the shares from existing shareholders, in which the Company maintains control is recognized as an equity transaction, with appropriate adjustments to both the Company’s additional paid-in capital and the corresponding non-controlling interest. On March 9, 2021, Cosmos Capital Limited (now known as Mawson Infrastructure Group Pty Ltd) was acquired by the Company. For accounting purposes, this was accounted for as a reverse asset acquisition with Cosmos Capital Limited (now known as Mawson Infrastructure Group Pty) as the accounting acquirer (refer to significant accounting policies below) and therefore the historical financial information of Cosmos Capital Limited prior to March 9, 2021 became the historical financial information of Mawson Infrastructure Group Pty, which have been consolidated into the financial statements of the Company. The consolidated results of the Company are reported in U.S. Dollars and include the operations of all its subsidiaries. All intercompany balances and transactions have been eliminated in the consolidation. Use of Estimates and Assumptions The preparation of the consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of liabilities at the dates of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the dates of the consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates. The Company has considered the following to be significant estimates made by management, including but not limited to, going concern assumptions, estimating the useful lives of patent assets and fixed assets, realization of long-lived assets, unrealized tax positions and the realization of digital currencies, Business Combinations, Reverse Asset Acquisition, and the Contingent obligation with respect to future revenues. Critical Accounting Policies Critical accounting policies are described in the footnotes to the consolidated financial statements for Cosmos Capital Limited (now known as Mawson Infrastructure Group Pty Ltd) and subsidiaries as of December 31, 2020, included in the Company’s Current Report on Form 8-K/A filed May 13, 2021. There have been no changes to critical accounting policies in the three months period ended September 30, 2021 other than as a result of changes to operations as described below. Reverse Asset Acquisition On March 9, 2021, the Company acquired the shares of Cosmos Capital Limited (now known as Mawson Infrastructure Group Pty Ltd) in a scrip for scrip exchange. This transaction has been accounted for as a reverse asset acquisition. Full details of the transaction and the impact are included in the Company’s Quarterly Report on Form 10-Q filed on May 19, 2021. This transaction reverse asset acquisition and the associated impact is referred to as the Cosmos Transaction. Share based payments Under the terms of the Cosmos Transaction Bid Implementation Agreement, the Company was required to make share based payments consisting of up to 40,000,000 shares under an Incentive Compensation Program and warrants issued to HC Wainwright as a fee related to the acquisition by Mawson of Mawson AU. In addition, Mawson AU had an outstanding obligation to W Capital Advisors Pty Ltd (“W Capital”) for options over the equity of Mawson AU which was terminated for consideration of warrants over the Company’s shares being issued to W Capital. Share based payments expenses for the nine months ended September 30, 2021 and 2020 were $21.78 million and $ nil Equity accounted investments Mawson subscribed for 500,000 shares in Distributed Storage Solutions Pty Ltd (DSS) at AUD$1.00 per share on March 1, 2020. As at September 30, 2021, Mawson held 20.06% of the equity in DSS, an Australian private company operating a blockchain based decentralized storage business, based on the IPFS protocol. This investment has been equity accounted, as Mawson has assessed that it has significant influence over the operations of the investee. Significant Accounting Policies There have been no material changes to the Company’s significant accounting policies to those previously disclosed in the consolidated financial statements as of December 31, 2020, and the notes thereto, included in the Company’s Current Report on Form 8-K/A filed May 13, 2021, other than as a result of changes to operations as described below. Revenue recognition – equipment sales In Q3 2021, the Company earned revenues from the sale of earlier generation cryptocurrency mining units and modular data centers that have been assembled or refurbished for resale (collectively “Hardware”). Revenue from the sale of Hardware is recognized when all of the following conditions are satisfied: (i) persuasive evidence of a sales arrangement exists, (ii) the sales terms are fixed or determinable, (iii) title and risk of loss have transferred, (iv) payment is received. At the date of sale, the net book value is expensed in cost of revenues. Digital Currencies Digital currencies are included in current assets in the consolidated balance sheets. Digital currencies are recorded at cost less impairment. An intangible asset with an indefinite useful life is not amortized but assessed for impairment annually, or more frequently, when events or changes in circumstances occur indicating that it is more likely than not that the indefinite-lived asset is impaired. Impairment exists when the carrying amount exceeds its fair value. In testing for impairment, the Company has the option to first perform a qualitative assessment to determine whether it is more likely than not that an impairment exists. If it is determined that it is not more likely than not that an impairment exists, a quantitative impairment test is not necessary. If the Company concludes otherwise, it is required to perform a quantitative impairment test. To the extent an impairment loss is recognized, the loss establishes the new cost basis of the asset. Subsequent reversal of impairment losses is not permitted. The following table presents the activities of the digital currencies of the three months and nine months ended September 30, 2021: Number of BTC Held Three months to Nine months to Opening Digital currencies held (represented as number of Bitcoin) 0.01 0.52 Additions of digital currencies (number of Bitcoin added) 251.52 501.74 Sale of digital currencies (number of Bitcoin sold) (249.77 ) (500.50 ) Digital currencies at September 30, 2021 (represented as a number of Bitcoin) 1.76 1.76 Basic and Diluted Net Loss per Share Net loss per common share is calculated in accordance with ASC Topic 260: Earnings Per Share (“ASC 260”). Basic loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. The computation of diluted net loss per share does not include dilutive common stock equivalents in the weighted average shares outstanding, as they would be anti-dilutive. Securities that could potentially dilute loss per share in the future that were not included in the computation of diluted loss per share at September 30, 2021 and 2020 are as follows: As at September 30, 2021 2020 Warrants to purchase common stock 4,222,910 - Restricted Stock-Units (“RSUs”) issued under a management equity plan 4,000,000 - 8,222,910 - The following table sets forth the computation of basic and diluted loss per share: For the three months ended For the nine months ended 2021 2020 2021 2020 Net Loss attributable to common shareholders $ (3,097,875 ) $ (3,548,240 ) $ (47,923,670 ) $ (6,131,591 ) Denominator: Weighted average common shares - basic and diluted 72,952,466 7,178,833 174,470,310 6,868,323 Loss per common share - basic and diluted $ (0.042 ) $ (0.494 ) $ (0.275 ) $ (0.893 ) Comparative weighted average common shares have been revised by the ratio of Mawson AU to the Company shares exchanged in the reverse asset acquisition in March 2021. Pursuant to that certain Certificate of Amendment to the Certificate of Incorporation of the Company dated August 11, 2021, Mawson executed a 10-for-1 reverse stock split of its outstanding common stock and reduced its authorized common stock to 120,000,000 shares, as set forth in the Company’s Current Report on Form 8-K/A filed August 16, 2021. Recently Issued Accounting Pronouncements For information with respect to recent accounting pronouncements, see Note 2 to the consolidated financial statements for Cosmos Capital Limited (now knows as Mawson Infrastructure Group Pty Ltd) and subsidiaries as of December 31, 2020, and the notes thereto, included in the Company’s Current Report on Form 8-K/A filed May 13, 2021. Recent accounting pronouncements include. Accounting Standards Update (“ASU”) No. 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”) Standard/Description– Issuance date: December 2019. This guidance simplifies various aspects of income tax accounting by removing certain exceptions to the general principle of the guidance and also clarifies and amends existing guidance to improve consistency in application. Effective Date and Adoption Considerations– The guidance was effective January 1, 2021 and early adoption was permitted. The company adopted the guidance on a prospective basis as of the effective date. Effect on Financial Statements or Other Significant Matters– The guidance did not have a material impact in the consolidated financial results. Other new pronouncements not applicable to the Company: Reference Rate Reform (“ASU 2021-01”) issued March 2020, with amendments in 2021; effective March 12, 2020 through December 31, 2022 Simplifying the Test for Goodwill Impairment (“ASU 2017-04”) issued January 2017 effective January 1, 2020; Financial Instruments - Credit Losses (“ASU 2016-13 / 2018-19 / 2019-04 / 2019-05 / 2019-10 / 2019-11”) issued June 2016 with amendments in 2018, 2019 and 2020; effective January 1, 2020

Deposit, Property and Equipment

Deposit, Property and Equipment and Intangible Assets	9 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
DEPOSIT, PROPERTY AND EQUIPMENT AND INTANGIBLE ASSETS	NOTE 3 – DEPOSIT, PROPERTY AND EQUIPMENT AND INTANGIBLE ASSETS On February 5, 2021, the Cosmos Infrastructure LLC (“Infrastructure”) entered into a Long-Term Purchase Contract with Canaan Convey Co Ltd (“Canaan”) for the purchase of 11,760 next generation Avalon A1246 ASIC Miners (Avalon). The purchase price per unit is $2,889 for a total purchase price of $33,974,640 (the “Canaan Transaction”). There will be a final adjustment to the purchase price in the last delivery due in March 2022 based on the actual tera hash delivered, based on the agreed price per tera hash under the terms of the contract. The details of the Canaan Transaction were set out in our Quarterly Report on Form 10-Q filed on May 19, 2021. During the third quarter, the Company paid: a) $1,799,280 during July 2021 for 1,176 miners b) $1,693,440 during August 2021 for 1,176 miners c) $1,587,600 during September 2021 for 1,176 miners As a result of payments pursuant to the Canaan Transaction, Canaan delivered 2,944 Miners in the 3 months ended September 30, 2021. The Company recognized these delivered assets as Property and Equipment on the consolidated balance sheet when the transfer of risk and title occurs for each shipment (i.e., the Miners have been delivered by Canaan to the agreed-upon port of loading in China). 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 (Avalon). The purchase price per unit is $4,908 for a total purchase price of $73,620,000 (the “2ND Canaan Transaction”). There will be a final adjustment to the purchase price in the last delivery due in May 2022 based on the actual tera hash delivered, based on the agreed price per tera hash under the terms of the contract. The details of the 2ND Canaan Transaction were set out in our Quarterly Report on Form 8-K filed August 9, 2021. During the third quarter the Company paid $14,724,000 as a deposit against the order. As of September 30, 2021, approximately $34.63 million cash paid for Miners was recorded as a deposit on the balance sheet. The Company’s depreciation and amortization expense for the three months ended September 30, 2021 and 2020 were $4.13m and $2.59m respectively. The Company’s depreciation and amortization expense for the nine months ended September 30, 2021 and 2020 were $7.98 million and $5.05 million respectively.

Stockholders Equity

Stockholders Equity	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity Note [Abstract]
STOCKHOLDERS EQUITY	NOTE 4 – STOCKHOLDERS EQUITY Common Stock On March 9, 2021, as a part of closing the Cosmos Transaction, Mawson issued a total of 428,270,616 shares to Mawson AU shareholders. There remained 50,558,133 shares that are to be issued once the approval of increase in authorized capital has been finalized. On May 20, 2021, the Authorized Capital increased from 500,000,000 to 800,000,000 shares. On June 2, 2021, the Company issued 3,475,970 shares to a combination of Mawson AU shareholders, and service providers to Mawson AU, who were eligible for shares on 31 December 2021. On June 15, 2021, the final 48,983,148 shares under the Cosmos Transaction were issued to Mawson AU shareholders. On August 6, 2021, the Company finalized Securities Purchase Agreements (the “PIPE Agreements”) with certain accredited investors (the “PIPE Investors”). Pursuant to the PIPE Agreements, the Company agreed to sell to the PIPE Investors, and the PIPE Investors agreed to purchase from the Company, in a private placement, an aggregate of 46,164,019 shares of common stock for a purchase price of $0.80 per share giving rise to gross proceeds of $36,931,215. On August 13, 2021, Mawson executed a 10-for-1 reverse stock split of its outstanding common stock and reduced its authorized common stock to 120,000,000 shares and the notes thereto, pursuant to that certain Certificate of Amendment to the Certificate of Incorporation of the Company, dated August 11, 2021, included in the Company’s Current Report on Form 8-K/A filed August 11, 2021. On August 18, 2021, Mawson performed a share conversion of the outstanding 178 shares of Series A Preferred Stock 17,800 shares of common stock of Mawson. On August 30, 2021, Mawson issued an additional 62,500 (625,000 pre reverse stock split) shares of common stock for a purchase price of $8.00 per share ($0.80 per share pre reverse stock split) under the PIPE Agreements of August 6, 2021, resulting in an additional $500,000 of gross proceeds under the PIPE Agreements, taking the total raised to $37,431,215. On September 28, 2021, Mawson Infrastructure Group Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with H.C. Wainwright & Co., LLC, as representative (the “Representative”), of the sole underwriter (the “Underwriter”), in connection with the Company’s previously announced public offering (the “Offering”) of 3,913,044 shares (the “Firm Shares”) of the Company’s common stock, $0.001 par value per share (the “Common Stock”) and accompanying 3-year warrants to purchase up to 1,956,522 shares of Common Stock with an exercise price of $13.80 (the “Firm Warrants”), at a public offering price of $11.50 per share. Under the terms of the Underwriting Agreement, the Company granted the Underwriter an option, exercisable for 30 days, to purchase up to an additional 586,956 shares of Common Stock at the public offering price, less the underwriting discount and commissions (the “Option Shares,” and together with the Firm Shares, the “Shares”) and 293,478 accompanying warrants (the “Option Warrants,” and together with the Firm Warrants, the “Warrants”). On September 28, 2021, the Representative gave us notice of its exercise of its option to purchase 293,478 Option Warrants for approximately an additional $5,870. The closing of the Offering occurred on October 1, 2021. The net proceeds to the Company from the Offering (including the sale of additional Option Warrants), excluding any exercise by the Underwriters of their option to purchase any of the Option Shares, were approximately $41,234,050, after deducting underwriter fees and estimated offering expenses payable by us. The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes. Restricted Stock As of September 30, 2021, 17,628,737 of the 48,072,974 shares of common stock issued as part of the compensation of Cosmos Transaction are restricted in trading under the Restricted Stock Agreement with each shareholder until December 31, 2021. Series A Preferred Stock As of September 30, 2021, there are no shares of Series A Preferred Stock outstanding. Common Stock Warrants A summary of the status of the Company’s outstanding stock warrants and changes during the nine months ended September 30, 2021, is as follows: Number of Weighted Weighted Outstanding as of December 31, 2020 14,219 Issued 4,220,281 $ 0.001 3.0 Exercised (11,590 ) Expired 0 Outstanding as of September 30, 2021 4,222,910 $ 0.001 3.0 Warrants exercisable as of September 30, 2021 4,222,910 $ 0.001 3.0 On September 30, 2021 the Company entered into an underwritten capital raise with the Representative, which resulted in the issuance of 2,250,270 warrants to investors at an exercise price of $13.80 and with an expiry of 30 September 2024. In addition, and as part of the underwriting agreement, the Representative and its designees were issued 273,913 warrants with an exercise price of $14.375 and an expiry of 30 September 2021.

Debt, Commitments and Contingen

Debt, Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
DEBT, COMMITMENTS AND CONTINGENCIES	NOTE 5 – DEBT, COMMITMENTS AND CONTINGENCIES Convertible Note On February 12, 2021, Mawson AU issued 28,012,364 unsecured convertible promissory notes (the “Mawson AU Notes”), which each mandatorily convert into 0.0424 shares in Mawson AU at the earlier of 6 months from February 12, 2021 or upon the occurrence of certain events. The notes accrue interest at the rate of 8% per annum which may be settled in stock or cash at the option of the Company. The Mawson AU Notes raised net proceeds of $20,275,349 comprising gross proceeds of $21,569,520 less transaction costs. The Mawson AU Notes automatically converted into convertible notes of Mawson (“Mawson Notes”) upon close of the Cosmos Transaction on March 9, 2021. The Mawson Notes have substantially the same terms as the Mawson AU notes and mandatorily convert into shares of Common Stock of Mawson the earlier of 6 months from February 12, 2021 or upon the occurrence of certain events at an issue price of $0.339 per share of Common Stock and will convert into 63,626,903 shares Common Stock in total. Given the mandatory and fixed conversion features, the Mawson Notes have been accounted for as equity. On August 13, 2021, all 28,012,364 outstanding “Mawson Notes” were mandatorily converted into 63,626,903 shares of Common Stock at a conversion price of $0.339 per share. The Company also issued 869,061 shares of Common Stock as payment for interest accrued on the convertible notes with a share price of $0.98 per share. Debt On June 1, 2021, the Company entered into a working capital facility with Georgina Manning Pty Ltd for up to AUD$1,000,000. As of September 30, 2021, the Company had closed this facility and no longer has any liabilities with Georgina Manning Pty Ltd. On January 27, 2021, Cosmos Infrastructure LLC (“Cosmos Infrastructure”) entered into an Equipment Purchase and Finance and Security Agreement with Foundry Digital LLC (“Foundry”) to purchase machinery that will be located at a facility hosted by Compute North LLC (“Compute North”). On February 5, 2021, the term of the agreement was further amended to have a final payment due January 27, 2022. Under the terms of the agreement, Cosmos Infrastructure purchased 500 Whatsminer M30S mining machines, paid a deposit of $264,000, and borrowed a total of $1,056,000. The Company plans to repay the facility in full by the last payment date, November 1, 2022. Leases As of September 30, 2021, the Company owns 95% of the equity of Luna Squares, LLC. Luna Squares LLC leases a 16.35 acre lot in the State of Georgia referred to as “Luna Squares” from the Development Authority of Washington County. The initial lease held by Luna Squares LLC, is from May 1, 2020 until April 30, 2023. Luna Squares entered into an amendment to the lease and exercised its option for additional land, which was signed and came into effect from February 23, 2021 (“Lease Amendment”). In addition to the extra land occupied, the amendment also includes five, 3-year extension options bringing a total optional lease period until 2038. Luna Squares LLC entered into a second amendment to the lease and exercised its option for additional 11.35 acres of land, which was signed and came into effect from August 24, 2021, and extends the ultimate expiry of the lease until July 31, 2047 (“Second Lease Amendment”). The Company leases the headquarters of its business operations at Level 5, 97 Pacific Highway, North Sydney NSW 2060 Australia, being 1,076 square feet of office space held under a license agreement. On September 20, 2021, the Company signed a new lease for 6-acres of land in Pennsylvania for thirty-six months with the option to execute four additional three year extensions as set out in our Current Report on Form 8-K filed September 20, 2021. Other than the foregoing leases, the Company does not lease any material assets. The Company believes that these offices and facilities are suitable and adequate for its operations as currently conducted and as currently foreseen. In the event additional or substitute offices and facilities are required, the Company believes that it could obtain such offices and facilities at commercially reasonable rates.

Deferred Tax

Deferred Tax	9 Months Ended
	Sep. 30, 2021
Deferred Tax [Abstract]
DEFERRED TAX	NOTE 6 – DEFERRED TAX We compute our quarterly income tax expense/(benefit) by using a forecasted annual effective tax rate and adjust for any discrete items arising during the interim period. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes and carryforward losses. The tax effects of temporary differences and tax loss and other credit carry forwards that give rise to significant portions of deferred tax assets and liabilities at September 30, 2021, and December 31, 2020 are comprised of the following: Significant components of our deferred tax assets and deferred tax liabilities are as follows: September 30, December 31, 2021 2020 Deferred income tax liabilities: Depreciation $ (3,574,492 ) $ (1,116,350 ) Transaction gains and losses (351,562 ) (129,483 ) Other deferred tax liability - (775 ) Net deferred tax liability (3,926,054 ) (1,246,608 ) Deferred income tax assets: Net operating loss carryforwards 4,984,048 2,782,861 Transaction gains and losses 8,654 93,874 Transaction costs - 3,688 Total deferred tax assets 4,992,702 2,880,423 Valuation allowance 1,066,648 (1,633,815 ) Net deferred tax assets $ - $ - For the nine-month period ended September 30, 2021 the Company recognized $nil income tax expense (September, 30 2020: $nil). As of September 30, 2021, we had federal and foreign net operating loss carryforwards of approximately $4.98 million and $5.36 million respectively, of which the ability to be carried forward indefinitely is subject to continued and ongoing review. Utilization of net operating loss and tax credit carryforwards may be subject to a substantial annual limitation due to ownership change limitations provided by the Internal Revenue Code and similar state provisions. Annual limitations may result in expiration of net operating loss and tax credit carryforwards before some or all of such amounts have been utilized. The Company and its subsidiaries are subject to United States federal income tax, foreign income and withholding tax and income taxes from state jurisdictions. All tax years are open and subject to inspection by taxing authorities.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 7 – SUBSEQUENT EVENTS On October 11, 2021, the Company acquired 2,000 Canaan A1246 for delivery in October 2021 from Canaan for a total consideration of $10,800,000. The Company paid in full for the units and took delivery during the month of October 2021. On October 15, 2021, the Company acquired 2,000 Whatminers M30’s for delivery in October 2021 from Foundry Digital LLC for a total consideration of $16,481,328. The Company paid a deposit of $3,202,766 and entered into a finance agreement with Foundry for the balance of the consideration over a 12-month term. On October 22, 2021, MIG No. 1 Pty Ltd (“MIG”), an Australian subsidiary of Mawson Infrastructure Group Inc. (the “Company”), entered into an electricity supply and sale agreement (“Electricity Supply Agreement”) with Cape Byron Management Pty Ltd (“CBM”) to enable the Company to operate its first Australian bitcoin mining site (“Australian Site”). CBM is a subsidiary of Quinbrook Infrastructure Partners Pty Ltd. This Electricity Supply Agreement was filed in the Company’s Current Report on Form 8-K on October 22, 2021.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Principles of Consolidation and basis of preparation	Principles of Consolidation and basis of preparation Pursuant to that certain Certificate of Amendment to the Certificate of Incorporation of the Company dated August 11, 2021, Mawson executed a 10-for-1 reverse stock split of its outstanding common stock and reduced its authorized common stock to 120,000,000 shares, as set forth in the Company’s Current Report on Form 8-K/A filed August 16, 2021. Unless otherwise specified, all Mawson share numbers in the Financial Statements and Notes in this Quarterly Report on Form 10-Q reflect post-reverse stock split numbers. These consolidated, condensed interim financial statements should be read in conjunction with the audited consolidated financial statements for Cosmos Capital Limited (now known as Mawson Infrastructure Group Pty Ltd) and subsidiaries as of December 31, 2020, and the notes thereto, included in the Company’s Current Report on Form 8-K/A filed May 13, 2021. The results of the interim periods are not necessarily indicative of the results to be expected for the full year ended December 31, 2021. These consolidated condensed interim financial statements reflect all adjustments which, in the opinion of management, are necessary to present fairly the financial position, the results of operations and cash flows of the Company for the periods presented. Any changes in the Company’s ownership interest in a consolidated subsidiary, through additional equity issuances by the consolidated subsidiary or from the Company acquiring the shares from existing shareholders, in which the Company maintains control is recognized as an equity transaction, with appropriate adjustments to both the Company’s additional paid-in capital and the corresponding non-controlling interest. On March 9, 2021, Cosmos Capital Limited (now known as Mawson Infrastructure Group Pty Ltd) was acquired by the Company. For accounting purposes, this was accounted for as a reverse asset acquisition with Cosmos Capital Limited (now known as Mawson Infrastructure Group Pty) as the accounting acquirer (refer to significant accounting policies below) and therefore the historical financial information of Cosmos Capital Limited prior to March 9, 2021 became the historical financial information of Mawson Infrastructure Group Pty, which have been consolidated into the financial statements of the Company. The consolidated results of the Company are reported in U.S. Dollars and include the operations of all its subsidiaries. All intercompany balances and transactions have been eliminated in the consolidation.
Use of Estimates and Assumptions	Use of Estimates and Assumptions The preparation of the consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of liabilities at the dates of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the dates of the consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates. The Company has considered the following to be significant estimates made by management, including but not limited to, going concern assumptions, estimating the useful lives of patent assets and fixed assets, realization of long-lived assets, unrealized tax positions and the realization of digital currencies, Business Combinations, Reverse Asset Acquisition, and the Contingent obligation with respect to future revenues.
Critical Accounting Policies	Critical Accounting Policies Critical accounting policies are described in the footnotes to the consolidated financial statements for Cosmos Capital Limited (now known as Mawson Infrastructure Group Pty Ltd) and subsidiaries as of December 31, 2020, included in the Company’s Current Report on Form 8-K/A filed May 13, 2021. There have been no changes to critical accounting policies in the three months period ended September 30, 2021 other than as a result of changes to operations as described below. Reverse Asset Acquisition On March 9, 2021, the Company acquired the shares of Cosmos Capital Limited (now known as Mawson Infrastructure Group Pty Ltd) in a scrip for scrip exchange. This transaction has been accounted for as a reverse asset acquisition. Full details of the transaction and the impact are included in the Company’s Quarterly Report on Form 10-Q filed on May 19, 2021. This transaction reverse asset acquisition and the associated impact is referred to as the Cosmos Transaction. Share based payments Under the terms of the Cosmos Transaction Bid Implementation Agreement, the Company was required to make share based payments consisting of up to 40,000,000 shares under an Incentive Compensation Program and warrants issued to HC Wainwright as a fee related to the acquisition by Mawson of Mawson AU. In addition, Mawson AU had an outstanding obligation to W Capital Advisors Pty Ltd (“W Capital”) for options over the equity of Mawson AU which was terminated for consideration of warrants over the Company’s shares being issued to W Capital. Share based payments expenses for the nine months ended September 30, 2021 and 2020 were $21.78 million and $ nil Equity accounted investments Mawson subscribed for 500,000 shares in Distributed Storage Solutions Pty Ltd (DSS) at AUD$1.00 per share on March 1, 2020. As at September 30, 2021, Mawson held 20.06% of the equity in DSS, an Australian private company operating a blockchain based decentralized storage business, based on the IPFS protocol. This investment has been equity accounted, as Mawson has assessed that it has significant influence over the operations of the investee.
Significant Accounting Policies	Significant Accounting Policies There have been no material changes to the Company’s significant accounting policies to those previously disclosed in the consolidated financial statements as of December 31, 2020, and the notes thereto, included in the Company’s Current Report on Form 8-K/A filed May 13, 2021, other than as a result of changes to operations as described below. Revenue recognition – equipment sales In Q3 2021, the Company earned revenues from the sale of earlier generation cryptocurrency mining units and modular data centers that have been assembled or refurbished for resale (collectively “Hardware”). Revenue from the sale of Hardware is recognized when all of the following conditions are satisfied: (i) persuasive evidence of a sales arrangement exists, (ii) the sales terms are fixed or determinable, (iii) title and risk of loss have transferred, (iv) payment is received. At the date of sale, the net book value is expensed in cost of revenues. Digital Currencies Digital currencies are included in current assets in the consolidated balance sheets. Digital currencies are recorded at cost less impairment. An intangible asset with an indefinite useful life is not amortized but assessed for impairment annually, or more frequently, when events or changes in circumstances occur indicating that it is more likely than not that the indefinite-lived asset is impaired. Impairment exists when the carrying amount exceeds its fair value. In testing for impairment, the Company has the option to first perform a qualitative assessment to determine whether it is more likely than not that an impairment exists. If it is determined that it is not more likely than not that an impairment exists, a quantitative impairment test is not necessary. If the Company concludes otherwise, it is required to perform a quantitative impairment test. To the extent an impairment loss is recognized, the loss establishes the new cost basis of the asset. Subsequent reversal of impairment losses is not permitted. The following table presents the activities of the digital currencies of the three months and nine months ended September 30, 2021: Number of BTC Held Three months to Nine months to Opening Digital currencies held (represented as number of Bitcoin) 0.01 0.52 Additions of digital currencies (number of Bitcoin added) 251.52 501.74 Sale of digital currencies (number of Bitcoin sold) (249.77 ) (500.50 ) Digital currencies at September 30, 2021 (represented as a number of Bitcoin) 1.76 1.76
Basic and Diluted Net Loss per Share	Basic and Diluted Net Loss per Share Net loss per common share is calculated in accordance with ASC Topic 260: Earnings Per Share (“ASC 260”). Basic loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. The computation of diluted net loss per share does not include dilutive common stock equivalents in the weighted average shares outstanding, as they would be anti-dilutive. Securities that could potentially dilute loss per share in the future that were not included in the computation of diluted loss per share at September 30, 2021 and 2020 are as follows: As at September 30, 2021 2020 Warrants to purchase common stock 4,222,910 - Restricted Stock-Units (“RSUs”) issued under a management equity plan 4,000,000 - 8,222,910 - The following table sets forth the computation of basic and diluted loss per share: For the three months ended For the nine months ended 2021 2020 2021 2020 Net Loss attributable to common shareholders $ (3,097,875 ) $ (3,548,240 ) $ (47,923,670 ) $ (6,131,591 ) Denominator: Weighted average common shares - basic and diluted 72,952,466 7,178,833 174,470,310 6,868,323 Loss per common share - basic and diluted $ (0.042 ) $ (0.494 ) $ (0.275 ) $ (0.893 ) Comparative weighted average common shares have been revised by the ratio of Mawson AU to the Company shares exchanged in the reverse asset acquisition in March 2021. Pursuant to that certain Certificate of Amendment to the Certificate of Incorporation of the Company dated August 11, 2021, Mawson executed a 10-for-1 reverse stock split of its outstanding common stock and reduced its authorized common stock to 120,000,000 shares, as set forth in the Company’s Current Report on Form 8-K/A filed August 16, 2021.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements For information with respect to recent accounting pronouncements, see Note 2 to the consolidated financial statements for Cosmos Capital Limited (now knows as Mawson Infrastructure Group Pty Ltd) and subsidiaries as of December 31, 2020, and the notes thereto, included in the Company’s Current Report on Form 8-K/A filed May 13, 2021. Recent accounting pronouncements include. Accounting Standards Update (“ASU”) No. 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”) Standard/Description– Issuance date: December 2019. This guidance simplifies various aspects of income tax accounting by removing certain exceptions to the general principle of the guidance and also clarifies and amends existing guidance to improve consistency in application. Effective Date and Adoption Considerations– The guidance was effective January 1, 2021 and early adoption was permitted. The company adopted the guidance on a prospective basis as of the effective date. Effect on Financial Statements or Other Significant Matters– The guidance did not have a material impact in the consolidated financial results. Other new pronouncements not applicable to the Company: Reference Rate Reform (“ASU 2021-01”) issued March 2020, with amendments in 2021; effective March 12, 2020 through December 31, 2022 Simplifying the Test for Goodwill Impairment (“ASU 2017-04”) issued January 2017 effective January 1, 2020; Financial Instruments - Credit Losses (“ASU 2016-13 / 2018-19 / 2019-04 / 2019-05 / 2019-10 / 2019-11”) issued June 2016 with amendments in 2018, 2019 and 2020; effective January 1, 2020

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Schedule of digital currencies	Number of BTC Held Three months to Nine months to Opening Digital currencies held (represented as number of Bitcoin) 0.01 0.52 Additions of digital currencies (number of Bitcoin added) 251.52 501.74 Sale of digital currencies (number of Bitcoin sold) (249.77 ) (500.50 ) Digital currencies at September 30, 2021 (represented as a number of Bitcoin) 1.76 1.76
Schedule of diluted loss per share	As at September 30, 2021 2020 Warrants to purchase common stock 4,222,910 - Restricted Stock-Units (“RSUs”) issued under a management equity plan 4,000,000 - 8,222,910 -
Schedule of basic and diluted net loss per share	For the three months ended For the nine months ended 2021 2020 2021 2020 Net Loss attributable to common shareholders $ (3,097,875 ) $ (3,548,240 ) $ (47,923,670 ) $ (6,131,591 ) Denominator: Weighted average common shares - basic and diluted 72,952,466 7,178,833 174,470,310 6,868,323 Loss per common share - basic and diluted $ (0.042 ) $ (0.494 ) $ (0.275 ) $ (0.893 )

Stockholders Equity (Tables)

Stockholders Equity (Tables)	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity Note [Abstract]
Schedule of outstanding stock warrants	Number of Weighted Weighted Outstanding as of December 31, 2020 14,219 Issued 4,220,281 $ 0.001 3.0 Exercised (11,590 ) Expired 0 Outstanding as of September 30, 2021 4,222,910 $ 0.001 3.0 Warrants exercisable as of September 30, 2021 4,222,910 $ 0.001 3.0

Deferred Tax (Tables)

Deferred Tax (Tables)	9 Months Ended
	Sep. 30, 2021
Deferred Tax [Abstract]
Schedule of deferred tax assets and deferred tax liabilities	September 30, December 31, 2021 2020 Deferred income tax liabilities: Depreciation $ (3,574,492 ) $ (1,116,350 ) Transaction gains and losses (351,562 ) (129,483 ) Other deferred tax liability - (775 ) Net deferred tax liability (3,926,054 ) (1,246,608 ) Deferred income tax assets: Net operating loss carryforwards 4,984,048 2,782,861 Transaction gains and losses 8,654 93,874 Transaction costs - 3,688 Total deferred tax assets 4,992,702 2,880,423 Valuation allowance 1,066,648 (1,633,815 ) Net deferred tax assets $ - $ -

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Aug. 11, 2021
Summary of Significant Accounting Policies (Details) [Line Items]
Reduced of authorized common stock (in Shares)			120,000,000
Share based payments (in Shares)	40,000,000
Share based payments expenses	$ 21,780
Working capital	5,560
Accrued payments	$ 10,000
Subscribed shares (in Shares)	500,000
Price per share (in Dollars per share)	$ 1
Percentage held equity	20.06%
Common stock authorized (in Shares)			120,000,000
HC Wainwright [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Share based payments	$ 6,180

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - Schedule of digital currencies - $ / shares	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021
Schedule of digital currencies [Abstract]
Opening Digital currencies held (represented as number of Bitcoin)	$ 0.01	$ 0.52
Additions of digital currencies (number of Bitcoin added)	251.52	501.74
Sale of digital currencies (number of Bitcoin sold)	(249.77)	(500.5)
Digital currencies at September 30, 2021 (represented as a number of Bitcoin)	$ 1.76	$ 1.76

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details) - Schedule of diluted loss per share - shares	Sep. 30, 2021	Sep. 30, 2020
Schedule of diluted loss per share [Abstract]
Warrants to purchase common stock	4,222,910
Restricted Stock-Units (“RSUs”) issued under a management equity plan	4,000,000
Total	8,222,910

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details) - Schedule of basic and diluted net loss per share - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Schedule of basic and diluted net loss per share [Abstract]
Net Loss attributable to common shareholders	$ (3,097,875)	$ (3,548,240)	$ (47,923,670)	$ (6,131,591)
Denominator:
Weighted average common shares - basic and diluted	72,952,466	7,178,833	174,470,310	6,868,323
Loss per common share - basic and diluted	$ (0.042)	$ (0.494)	$ (0.275)	$ (0.893)

Deposit, Property and Equipme_2

Deposit, Property and Equipment and Intangible Assets (Details) - USD ($)	Aug. 09, 2021	May 19, 2021	Feb. 05, 2021	Sep. 30, 2021	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Purchase price, description	Infrastructure entered into a second Long-Term Purchase Contract with Canaan for the purchase of 15,000 next generation Avalon A1246 ASIC Miners (Avalon). The purchase price per unit is $4,908 for a total purchase price of $73,620,000 (the “2ND Canaan Transaction”).		the Cosmos Infrastructure LLC (“Infrastructure”) entered into a Long-Term Purchase Contract with Canaan Convey Co Ltd (“Canaan”) for the purchase of 11,760 next generation Avalon A1246 ASIC Miners (Avalon). The purchase price per unit is $2,889 for a total purchase price of $33,974,640 (the “Canaan Transaction”).
Description transaction payments		The details of the Canaan Transaction were set out in our Quarterly Report on Form 10-Q filed on May 19, 2021. During the third quarter, the Company paid:  a)$1,799,280 during July 2021 for 1,176 miners   b)$1,693,440 during August 2021 for 1,176 miners   c)$1,587,600 during September 2021 for 1,176 miners  As a result of payments pursuant to the Canaan Transaction, Canaan delivered 2,944 Miners in the 3 months ended September 30, 2021.
Company paid amount				$ 14,724,000
Cash paid for deposit				$ 34,630,000
Depreciation and amortization expense, description				The Company’s depreciation and amortization expense for the three months ended September 30, 2021 and 2020 were $4.13m and $2.59m respectively.
Depreciation and amortization expense				$ 7,980,000	$ 5,050,000

Stockholders Equity (Details)

Stockholders Equity (Details) - USD ($)

Aug. 06, 2021

Mar. 09, 2021

Feb. 12, 2021

Sep. 28, 2021

Aug. 30, 2021

Sep. 30, 2021

Aug. 18, 2021

Aug. 13, 2021

Jun. 15, 2021

Jun. 02, 2021

May 20, 2021

Dec. 31, 2020

Stockholders Equity (Details) [Line Items]

Shares issued

63,626,903

Purchase price per share (in Dollars per share)

$ 8

Gross proceeds (in Dollars)

$ 500,000

$ 21,569,520

Authorized common stock

120,000,000

120,000,000

Issued an additional

62,500

Pre reverse stock split

625,000

Per share pre reverse stock split (in Dollars per share)

$ 0.8

Warrant issued

2,250,270

Exercise price (in Dollars per share)

$ 13.8

Restricted Stock [Member]

Stockholders Equity (Details) [Line Items]

Total shares issued

17,628,737

Restricted Stock [Member] | Cosmos Transaction [Member]

Stockholders Equity (Details) [Line Items]

Total shares issued

48,072,974

Business Combination [Member]

Stockholders Equity (Details) [Line Items]

Business combination, description

Mawson Infrastructure Group Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with H.C. Wainwright & Co., LLC, as representative (the “Representative”), of the sole underwriter (the “Underwriter”), in connection with the Company’s previously announced public offering (the “Offering”) of 3,913,044 shares (the “Firm Shares”) of the Company’s common stock, $0.001 par value per share (the “Common Stock”) and accompanying 3-year warrants to purchase up to 1,956,522 shares of Common Stock with an exercise price of $13.80 (the “Firm Warrants”), at a public offering price of $11.50 per share. Under the terms of the Underwriting Agreement, the Company granted the Underwriter an option, exercisable for 30 days, to purchase up to an additional 586,956 shares of Common Stock at the public offering price, less the underwriting discount and commissions (the “Option Shares,” and together with the Firm Shares, the “Shares”) and 293,478 accompanying warrants (the “Option Warrants,” and together with the Firm Warrants, the “Warrants”). On September 28, 2021, the Representative gave us notice of its exercise of its option to purchase 293,478 Option Warrants for approximately an additional $5,870. The closing of the Offering occurred on October 1, 2021. The net proceeds to the Company from the Offering (including the sale of additional Option Warrants), excluding any exercise by the Underwriters of their option to purchase any of the Option Shares, were approximately $41,234,050, after deducting underwriter fees and estimated offering expenses payable by us. The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes.

Cosmos Transaction [Member]

Stockholders Equity (Details) [Line Items]

Shares issued

428,270,616

48,983,148

Remaining shares

50,558,133

Mawson AU [Member]

Stockholders Equity (Details) [Line Items]

Shares issued

3,475,970

Mawson [Member]

Stockholders Equity (Details) [Line Items]

Authorized common stock

120,000,000

Common shares

17,800

Underwriting Agreement [Member]

Stockholders Equity (Details) [Line Items]

Warrant issued

273,913

Exercise price (in Dollars per share)

$ 14.375

Private Placement [Member]

Stockholders Equity (Details) [Line Items]

Aggregate of shares

46,164,019

Purchase price per share (in Dollars per share)

$ 0.8

Gross proceeds (in Dollars)

$ 36,931,215

Series A Preferred Stock [Member]

Stockholders Equity (Details) [Line Items]

Share conversion

178

PIPE Agreements [Member]

Stockholders Equity (Details) [Line Items]

Gross proceeds (in Dollars)

$ 37,431,215

Minimum [Member]

Stockholders Equity (Details) [Line Items]

Authorized capital increased

500,000,000

Maximum [Member]

Stockholders Equity (Details) [Line Items]

Authorized capital increased

800,000,000

Stockholders Equity (Details) -

Stockholders Equity (Details) - Schedule of outstanding stock warrants - Warrant [Member]	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Stockholders Equity (Details) - Schedule of outstanding stock warrants [Line Items]
Number of Warrants, Outstanding, Beginning	14,219
Weighted Average Exercise Price, Outstanding, Beginning (in Dollars per share) | $ / shares
Weighted Average Remaining Contractual Life (in years), Outstanding, Beginning
Number of Warrants, Issued	4,220,281
Weighted Average Exercise Price, Issued (in Dollars per share) | $ / shares	$ 0.001
Weighted Average Remaining Contractual Life (in years), Issued	3 years
Number of Warrants, Exercised	(11,590)
Number of Warrants, Expired	0
Number of Warrants, Outstanding, Ending	4,222,910
Weighted Average Exercise Price, Outstanding, Ending (in Dollars per share) | $ / shares	$ 0.001
Weighted Average Remaining Contractual Life (in years), Outstanding, Ending	3 years
Number of Warrants, Exercisable	4,222,910
Weighted Average Exercise Price, Exercisable (in Dollars per share) | $ / shares	$ 0.001
Weighted Average Remaining Contractual Life (in years), Exercisable	3 years

Debt, Commitments and Conting_2

Debt, Commitments and Contingencies (Details)	Aug. 13, 2021$ / sharesshares	Aug. 06, 2021USD ($)	Jun. 01, 2021AUD ($)	Feb. 12, 2021USD ($)$ / sharesshares	Feb. 05, 2021	Sep. 30, 2021aft
Debt, Commitments and Contingencies (Details) [Line Items]
Unsecured convertible promissory notes | $				$ 28,012,364
Conversion price | $ / shares	$ 0.339			$ 0.0424
Interest rate				8.00%
Net proceeds | $				$ 20,275,349
Gross proceeds | $		$ 500,000		$ 21,569,520
Share price | $ / shares				$ 0.339
Share issued | shares				63,626,903
convertible notes outstanding | shares	28,012,364
Converted common stock shares | shares	63,626,903
Common stock shares issued | shares	869,061
Convertible notes share price | $ / shares	$ 0.98
Working capital facility | $			$ 1,000,000
Payment due date						Feb. 5, 2021
Description of debt					Under the terms of the agreement, Cosmos Infrastructure purchased 500 Whatsminer M30S mining machines, paid a deposit of $264,000, and borrowed a total of $1,056,000. The Company plans to repay the facility in full by the last payment date, November 1, 2022.
Leases equity percentage						95.00%
Land of acres | a						11.35
Square feet of office space | ft						1,076
Luna Squares, LLC. [Member]
Debt, Commitments and Contingencies (Details) [Line Items]
Description of leases term						Luna Squares LLC leases a 16.35 acre lot in the State of Georgia referred to as “Luna Squares” from the Development Authority of Washington County. The initial lease held by Luna Squares LLC, is from May 1, 2020 until April 30, 2023. Luna Squares entered into an amendment to the lease and exercised its option for additional land, which was signed and came into effect from February 23, 2021 (“Lease Amendment”). In addition to the extra land occupied, the amendment also includes five, 3-year extension options bringing a total optional lease period until 2038.

Deferred Tax (Details)

Deferred Tax (Details) $ in Thousands	Sep. 30, 2021USD ($)
Federal Tax [Member]
Deferred Tax (Details) [Line Items]
Net operating loss carryforwards	$ 4,980
Foreign Tax [Member]
Deferred Tax (Details) [Line Items]
Net operating loss carryforwards	$ 5,360

Deferred Tax (Details) - Schedu

Deferred Tax (Details) - Schedule of deferred tax assets and deferred tax liabilities - USD ($)	1 Months Ended	9 Months Ended
	Dec. 31, 2020	Sep. 30, 2021
Deferred income tax liabilities:
Depreciation	$ (1,116,350)	$ (3,574,492)
Transaction gains and losses	(129,483)	(351,562)
Other deferred tax liability	(775)
Net deferred tax liability	(1,246,608)	(3,926,054)
Deferred income tax assets:
Net operating loss carryforwards	2,782,861	4,984,048
Transaction gains and losses	93,874	8,654
Transaction costs	3,688
Total deferred tax assets	2,880,423	4,992,702
Valuation allowance	(1,633,815)	1,066,648
Net deferred tax assets

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Oct. 15, 2021	Oct. 11, 2021
Subsequent Event [Member]
Subsequent Events (Details) [Line Items]
Deposit amount	$ 3,202,766
Consideration term	12 months
Canaan [Member]
Subsequent Events (Details) [Line Items]
Subsequent event, description		On October 11, 2021, the Company acquired 2,000 Canaan A1246 for delivery in October 2021 from Canaan for a total consideration of $10,800,000.
Foundry Digital LLC [Member]
Subsequent Events (Details) [Line Items]
Subsequent event, description	On October 15, 2021, the Company acquired 2,000 Whatminers M30’s for delivery in October 2021 from Foundry Digital LLC for a total consideration of $16,481,328.