Mawson Infrastructure Group Reports 33% Revenue Decline and $23.7 Million Net Loss for Fiscal Year 2025

Mawson Infrastructure Group Inc. reported a significant decline in its financial performance for the fiscal year ending December 31, 2025, with total revenues of $39.8 million, down 33% from $59.3 million in 2024. The decrease was primarily driven by a 32% drop in digital colocation revenue, which fell to $26.1 million from $38.5 million, attributed to a reduction in customer numbers and average contract sizes. Additionally, revenue from digital assets mining plummeted by 85% to $1.9 million, largely due to increased energy costs and network difficulty impacting Bitcoin production. In contrast, energy management revenue increased by 56% to $11.8 million, reflecting enhanced participation in energy management programs.

The company's operating expenses also saw a notable shift, totaling $36.6 million in 2025 compared to $51.4 million in 2024, marking a 29% decrease. This reduction was influenced by lower depreciation and amortization expenses, which fell to $5.6 million from $17.9 million, following the liquidation of certain subsidiaries. However, selling, general, and administrative expenses rose by 24% to $22.6 million, driven by increased legal and litigation-related costs. Mawson reported a net loss of $23.7 million for 2025, a decrease from a loss of $46.3 million in the previous year.

Strategically, Mawson has focused on enhancing its digital colocation capabilities and expanding its energy management services. The company launched a GPU pilot program in October 2025, aimed at establishing a scalable framework for AI cloud services, which has shown promising performance metrics. Mawson's operational capacity currently stands at approximately 129 megawatts, with plans for further expansion in the U.S. market, having shifted its focus away from Australia.

As of December 31, 2025, Mawson's financial condition remains precarious, with negative working capital of $31.3 million and an accumulated deficit of $252.5 million. The company has $25.2 million in overdue debt and is actively seeking additional capital to support its operations and growth strategy. Mawson has entered into an At the Market Offering Agreement to raise up to $40 million, which it hopes will provide necessary liquidity. The company is also navigating ongoing legal disputes, including a significant claim against CleanSpark, Inc. for $2 million related to a breach of contract.

Looking ahead, Mawson's management has expressed the need for substantial additional capital to continue operations and execute its business strategy. The company is exploring various strategic options, including potential asset sales and equity investments, to stabilize its financial position. However, the ongoing volatility in the digital asset market and regulatory uncertainties pose significant risks to its future performance.