Big Digital Energy, Inc. · NASDAQ:BGDE
Big Digital Energy — Mawson Infrastructure Group — Q3 2021 Earnings Presentation
19 slides from Big Digital Energy's earnings presentation, November 2021
Slide 1: The Digital Asset Company Q3 Investor Presentation
NASDAQ: MIGI THE DIGITAL ASSET COMPANY Q3 Investor Presentation November 2021
Slide 2: Legal Disclaimer
LEGAL DISCLAIMER differ materially from those projected or suggested. Readers are Additional risks not presently known to us or that we currently deem Information contained herein is derived from various internal and cautioned not to place undue reliance on these forward-looking immaterial may also
Slide 3: Mawson at a glance
Mawson Focused on bitcoin mining and high performance computing (HPC), Mawson’s vertically integrated model is based on a long term strategy at a glance to assist in the global transition to a decarbonised society. Online hashing Contracted hash rate increase Planned hash rate increase 0.80EH 3.35EH
Slide 4: Headline Results Q3
Headline Results Q3 Financial Highlights Operational Highlights Subsequent Events to Q3 $10.9 M Revenue MIGI listed 4,000 Additional ASIC up 1100% from Q3 2020 On Nasdaq Sept 2021 Miners purchased, upgrading total mining capacity to 3.35EH $8.4M Gross Profit 17,352 Additional ASIC Q2, 2022 Up $8.3M
Slide 5: Q3 Results Summary
Q3 Results Non-GAAP Balance Sheet Summary Q3-21 ($M) Q2-21 ($M) Δ ($M) BTC Revenues (in millions) ASSETS 12.00 10.9 BTC Revenu es (in millions) Cash and cash equivalents $51.0 $3.6 10.00 $47.4 8.00 5.9 Property and equipment, net $27.5 $15.6 $11.9 6.00 5.1 4.00 Equipment deposits $33.2 $13.0 $20.2 1
Slide 6: Attractive Mining Metrics
Attractive Mining Metrics Early Q1 2023 Nov 2021 Q2 20221 Δ Δ Target2 Capacity (MW) 220 MW 400 MW +180 MW 1,000 MW +600 MW Total Exahash Capacity 0.80 EH 3.35 EH +2.55 EH 5.00 EH +1.65 EH BTC Mining Production 4.7 BTC /day1 19.5 BTC /day1 +14.8 BTC 28.5 BTC /day +9.0 BTC Annualised Revenue1 $102M ~$
Slide 7: Deployment Timeline (EH)
Deployment Timeline (EH) Aggressively Increasing Hash Rate Hash Rate Growth (EH/s) From 0.20 EH in Q1 2021 6.00 to 3.35 EH by Q2 2022, +17x 1 .2 0 MIGI Actu al Hash Rate (EH/s) to 5.00 EH by early Q1 +25x MIGI Comitted Hash Rate (E H/s) 1 .0 5.00 2023 MIGI Target Hash Rate (E H/ s) 0 .8 0 4.00 Blend
Slide 8: Secure Energy Pipeline
Secure Energy Pipeline Georgia USA 200MW 26 Year lease 100MW Target Expansion Energy Infrastructure underpins future growth Pennsylvania USA We focus on identifying stranded and distressed energy 100MW 200MW 15 Year lease Target Expansion Over 1GW pipeline of projects Byron Bay AUS Existing contract
Slide 9: Compelling Facility Metrics
Compelling Facility Metrics Co-location Georgia Pennsylvania Byron Bay Pipeline1 Total USA USA USA AUS AUS + USA E/H Capacity 0.1 7 7 0.4 14.5 Current MW capacity 5 100 100 20 220 Future additional MW 0 200 200 0 1,470 1,870 capacity MDC Capacity 150 150 10 735 1045 Term 6 Months 26 Years 15 Years 7
Slide 10: Mawson's Infrastructure First Approach
Mawson’s Infrastructure First Approach Strict ROIC - Target high quality, stable and supportive jurisdictions 1 assessment of sites - Selection of sites with stranded/under-utilised energy especially in regional areas - Low blended cost of < 4.0c / kwh across global portfolio Modular - Design allows
Slide 11: Secured Capacity
Secured Capacity ASIC Units MDC Units Transformers Latest generation bitcoin mining hardware 2.5 MW / MDC 2500 Kva >40,000 units purchased 200+ units ordered 100+ units ordered 3.35 EH Q2 2022 440 MW total capacity 220 MW total capacity Q3 Investor Presentation 11
Slide 12: BTC Pricing Scenarios
BTC Pricing Based on 3.35 EH online, Mawson can provide a worked example of the current mining economics. This example works across various Scenarios Bitcoin price assumptions, with no changes to the global difficulty rate under each scenario. Bitcoin Mining ASIC Breakeven $5,321/BTC Based on global
Slide 13: ESG Focus
ESG Focus Net Zero Socially Governance Carbon Engaged Framework Brentwood School, GA, USA A responsible, accountable and ethical 22,277 Platinum sponsor of School Athletics Program Mawson Group Scholarship approach to corporate governance Tonnes of C02 Mawson and Brentwood Career Pathways Program un
Slide 14: Highly experienced Management & Board
Highly experienced Management & Board Key employees Board Hetal Majithia Liam Wilson Greg Martin James Manning Chief Financial Officer Chief Operating Officer Independent Non-Executive Chair Founder & CEO 10 years’ experience as a chartered 16 years experience in senior 25 years with AGL Energy 15 y
Slide 15: Mawson Innovation Portfolio
Mawson Innovation Portfolio The Cosmos Global Digital Distributed Storage Bitcoin & HPC Miners Access ‘DIGA’ ETF Solutions hosting services DIGA aims to track the Global Digital Miners Filecoin (FIL) mining business, incubated Mawson’s subsidiary, Luna Squares LLC, Access Index (before fees and expe
Slide 16: Mawson Register
Mawson Register Market capitalisation Ownership $998M Based on Nov 12, 2021 Board and Management 9% Ticker NASDAQ:MIGI External Investors 10% Share price $12.92 24% Shares outstanding 70,709,169 Warrants 2,526,542 76% Options 29,458 RSU 4,000,000 Fully diluted capital 77,265,169 Q3 Investor Presenta
Slide 17: Mawson's Investment Thesis
Mawson’s Investment Thesis Rapid Growth Strategic Partnership 4 Secured and Scale in place Locations +600% targeted operational growth with Global Green Energy Infrastructure 3 USA based sites from Nov 2021 to early Q1 2023 Fund Quinbrook Infrastructure Partners 1 AUS based site Infrastructure First
Slide 18: Reconciliation of Non-GAAP Metrics
Reconciliation of Non-GAAP Metrics Q3 EBITDA + Gross Profit Q3 BALANCE SHEET Slide 4 identifies some non-GAAP financial metrics, which require Slide 5 identifies some non-GAAP financial metrics, which require reconciliation to the statutory GAAP numbers. We set them out as follows: reconciliation to
Slide 19: Head Office / Investor Relations
Head Office Investor Relations Level 5, 97 Pacific Highway Brett Mass North Sydney, NSW Australia Hayden IR [email protected] [email protected]
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