Welcome back, everyone. We have an update from Mawson Infrastructure Group. Trades on the Nasdaq under the symbol MIGI. Through innovation, technology, and operational expertise, operates and optimizes digital infrastructures to accelerate the digital economy. Happy to welcome Interim CEO Kalist Saloom. Nice to see you again, Kalist. Happy New Year. Excited for your update. Thank you, Anna. Happy New Year. It's great to see you again, too. Thank you. All right. All right. Go for it. Okay. Thank you. Good afternoon, and thank you for joining us today. As Anna said, I'm Kalist Saloom, Interim CEO of Mawson Infrastructure Group, or Mawson for short. Our stock ticker is MIGI, M-I-G-I. Before we begin, please note that today's presentation includes forward-looking statements. Actual results may differ materially from those expressed or implied by these statements due to various risks and uncertainties. For a detailed discussion of these factors, please refer to the risk factors described in our most recent annual report on Form 10-K and subsequent filings with the SEC, which are also available on our website. As we enter 2026, Mawson stands at a critical inflection point, one defined not by speculation, but by progress, by regulatory tailwinds, and by decisive actions which we have already taken to reposition this company for durable, long-term growth. Today, I'd like to speak to you about recent developments, directly address shareholder concerns, and explain how Mawson is building a future-ready infrastructure platform aligned with the most powerful forces shaping the U.S. energy and AI HPC landscape today. Let me begin with our Nasdaq compliance status. In December 2025, we regained Nasdaq compliance. Mawson remains fully compliant with all Nasdaq listing requirements. We continue to monitor all financial and governance standards to ensure uninterrupted trading and shareholder protection. Turning to legal matters, and as previously reported, Mawson is involved in ongoing legacy lawsuits related to prior business activities and contractual disputes, which have had a material impact on our day-to-day operations and strategic initiatives. While litigation is never ideal, we are aggressively defending our interests. With that said, we are working diligently to amicably resolve these matters. We are committed to resolving these matters efficiently and with minimal disruption to our growth trajectory. But we will not let this interfere with our efforts to protect our shareholders and assets. On December 29, 2025, we filed an adversary proceeding in the United States Bankruptcy Court in Delaware against the parties responsible for the unsuccessful involuntary bankruptcy petition filed against Mawson in December of 2024. The involuntary bankruptcy petition was dismissed with prejudice in November 2025, freeing Mawson to pursue claims for actual and punitive damages, attorney's fees, and costs. Mawson's filing of the adversary action is a first step in our pursuit of claims against those responsible for financial harm caused to the company and its shareholders. In addition, earlier this week, on Tuesday, January 20, Mawson filed a formal complaint for violation of securities laws against certain shareholders in Delaware Federal Court. The objective of this action is to protect shareholder value and company assets in light of alleged improper accumulation and disclosure practices by specific parties. We are seeking injunctive relief, and we are confident that this process will protect our shareholders from further abusive tactics. We expect a preliminary hearing in the coming weeks. On October 22, 2025, we announced our AI infrastructure pilot program focused on deploying next-generation data center capacity for artificial intelligence workloads. Since then, Mawson has achieved several milestones, including site selection, initial hardware installation, and onboarding of our first pilot clients. We are on track to complete the pilot phase by the end of March, with early results demonstrating strong demand and scalability potential. Next steps include expanding our partnerships, securing new clients, refining operational protocols, and preparing for commercial rollout in Q2 or Q3 of this year. Finally, regarding our $40 million at-the-market facility, which we announced on December 11, 2025, the ATM provides Mawson with flexible growth capital but does not obligate the company to issue shares unless conditions are favorable. We remain judicious in our use of the ATM and are focused on balancing liquidity needs with shareholder value. Now, I want to address concerns about dilution tied to the ATM. The ATM is a tool, nothing more. As we've stated in our filings, any use of the facility will depend on market conditions and strategic needs as determined by management and the board. And those priorities today are shifting decisively towards AI and high-performance computing. This shift isn't aspirational. It's backed by tangible progress. In Q4 2025, we launched our GPU pilot program on a decentralized AI network. In Q3 2025, we delivered $13.2 million in revenue and returned a positive net income. We are currently working on our year-end close, but do not currently have the numbers to share here. Some investors have raised concern about potential below-market transactions or misaligned incentives with large shareholders. Our power infrastructure remains one of Mawson's most valuable assets, and protecting it remains central to long-term value creation. We are actively engaged in ensuring our business opportunities continue to maximize all of our resources. Our focus is providing the best value to all shareholders, not just a select few. We have not and will not enter into any transaction which involves below-market rates or preferential treatment to anyone, especially related parties. As I mentioned earlier, we are taking actions to stop shareholder improprieties. We are proactive in ensuring this does not happen. As we move into 2026, we expect to continue expanding our GPU pilot program and utilizing our energy management programs. Our Bellefonte lease extension and our greenfield facility in Ohio often offer even further opportunities for long-term stability and capacity expansion beyond our current 129-megawatt capacity. This is what true transition looks like: volatile in the short term, transformative in the long term. Perhaps the most consequential shift shaping our future is unfolding at the national level in U.S. energy policy. The Trump administration is now pressing hyperscalers such as Microsoft, Meta, and Google to fund new baseload power plants through long-term 15-year commitments. This dramatically elevates the value of energy-secure sites like ours. In December 2025, FERC issued a ruling allowing data centers to connect directly to power plants, bypassing years-long interconnection queues. For operators with energized sites like Mawson, this is historic. On January 16, 2026, a new federal and state agreement mobilized more than $15 billion for new power generation to support AI-driven data center expansion. For Mawson, these developments mean our 129-megawatt power platform is more valuable today than at any time in our history. Our existing footprint positions us to be a direct beneficiary and potentially a direct partner as hyperscalers lock in long-term baseload power. We began 2025 as a company navigating the declining economics of digital mining and the weight of legacy litigation. We enter 2026 as a growing AI and HPC infrastructure provider aligned with national energy priorities, with rising investor interest and positioned to capture value from the hyperscale compute era. Our path forward is grounded in accountable governance, strengthened and diversified revenue streams, disciplined scaling of GPU and HPC infrastructure, and strategic stewardship over a 129-megawatt power platform. This is not a story of survival. This is a story of repositioning, rebuilding, and returning to growth. In summary, Mawson is taking decisive action across regulatory, legal, operational, and strategic fronts to position the company for durable, long-term growth. On behalf of all of us here at Mawson, thank you for your continued confidence. Anna, I turn it back to you. Thank you, Kalist. We really appreciate this conversation here today and your time with us, and we certainly look forward to having a full presentation with you very soon. Thank you so much. Thank you very much. All right, everyone. We'll be right back.
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