Mawson Infrastructure holders report 40.7% stake

Mawson Infrastructure Group Inc. received an amended Schedule 13D showing that a group of investors collectively holds a significant stake in its common stock.

Rhea-AI Filing Summary

Mawson Infrastructure Group Inc. received an amended Schedule 13D showing that a group of investors collectively holds a significant stake in its common stock. Endeavor Blockchain, LLC reports beneficial ownership of 1,260,000 shares, equal to 38.1 % of the outstanding common stock, while Cody Smith reports 75,000 shares, or 2.3 %, and Joshua Kilgore and PM Squared, LLC report smaller holdings. Together, the reporting persons state they own a total of 1,345,297 shares, representing 40.7 % of Mawson’s 3,304,639 shares outstanding as of December 16, 2025.

The group says it bought the shares because it viewed them as undervalued and an attractive investment and indicates an intention to engage with Mawson’s management and board about value-creation opportunities. Recent purchases include multiple open-market trades between late December 2025 and mid-January 2026 at prices around $4.39–$4.56 per share.

Insights

Equity ownership and governance analyst

Investor group discloses 40.7% Mawson stake and plans to engage management.

An investor group led by Endeavor Blockchain, LLC reports owning a combined 1,345,297 shares of Mawson Infrastructure Group Inc., representing 40.7 % of the company’s 3,304,639 shares outstanding as of December 16, 2025. Endeavor Blockchain, LLC alone reports 1,260,000 shares, or 38.1%, making it the largest holder in the group.

The filing states the shares were purchased because they were believed to be undervalued and an attractive investment. It also notes that the reporting persons intend to engage with Mawson’s management and board regarding “opportunities for value creation,” while explicitly stating they have no present plans for specific corporate actions listed in Item 4 subparagraphs (a)–(j). This combination of a large ownership position and an expressed intention to engage suggests active shareholder involvement without detailing particular change proposals.

The document outlines recent open‑market purchases, including 10,000, 100,000 and 160,000 shares acquired on January 6, 7 and 9, 2026 at prices around $4.52–$4.56 per share, and additional trades by Cody Smith at prices around $4.39–$4.54 per share. These transactions demonstrate continued accumulation into early 2026, with any future impact depending on how the group’s engagement with management and the board develops.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many Mawson Infrastructure Group (MIGI) shares does the investor group report owning?

The reporting persons state they collectively own 1,345,297 shares of Mawson Infrastructure Group Inc.’s common stock, representing 40.7 % of the outstanding shares.

Who are the reporting persons in this Mawson Infrastructure Group (MIGI) Schedule 13D/A?

The reporting persons are Endeavor Blockchain, LLC, Joshua Kilgore, Cody Smith, and PM Squared, LLC, which have entered into a joint filing agreement.

What individual stake does Endeavor Blockchain, LLC hold in Mawson Infrastructure Group (MIGI)?

Endeavor Blockchain, LLC reports beneficial ownership of 1,260,000 shares of Mawson common stock, representing 38.1 % of the outstanding shares, with sole voting and dispositive power over those shares.

Why did the group say it invested in Mawson Infrastructure Group (MIGI)?

The filing states the reporting persons bought Mawson shares because they believed the stock was undervalued and represented an attractive investment opportunity.

Does the investor group plan to influence Mawson Infrastructure Group (MIGI) management?

The reporting persons state they intend to engage with Mawson’s management and Board of Directors regarding opportunities for value creation, while noting they have no present plans for specific corporate actions listed in Item 4(a)–(j).

What recent Mawson Infrastructure Group (MIGI) share purchases are disclosed?

Disclosed trades include purchases of 10,000, 100,000, and 160,000 shares on January 6, 7, and 9, 2026 at average prices around $4.52–$4.56 per share, and additional purchases by Cody Smith in late December 2025 and January 2026 at prices around $4.39–$4.54.

What is the total number of Mawson Infrastructure Group (MIGI) shares outstanding used in this filing?

The percentages in the filing are based on 3,304,639 shares of Mawson common stock outstanding as of December 16, 2025, as referenced from the issuer’s reports.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Accepted by SEC EDGAR 01/12/2026 - 02:55 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 2)

Mawson Infrastructure Group Inc.

(Name of Issuer)

Common Stock, $0.001 par value

(Title of Class of Securities)

57778N307

(CUSIP Number)

Joshua Kilgore
5701 Euper Lane, Ste A,
Fort Smith, AR, 72903
479-420-8957

Cam C. Hoang
Dorsey & Whitney LLP, 50 S. Sixth Street, Suite 1500
Minneapolis, MN, 55402
(612) 492-6109

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

01/07/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 57778N307

1

Name of reporting person

Endeavor Blockchain, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

ARKANSAS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 1,260,000.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 1,260,000.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

1,260,000.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

38.1 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Endeavor Blockchain, LLC is 100% owned Joshua Kilgore, the managing member.

SCHEDULE 13D

CUSIP No. 57778N307

1

Name of reporting person

Joshua Kilgore

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 8,000.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 8,000.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

8,000.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.2 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP No. 57778N307

1

Name of reporting person

Cody Smith

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 75,000.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 75,000.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

75,000.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

2.3 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP No. 57778N307

1

Name of reporting person

PM Squared, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

TEXAS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 2,297.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 2,297.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

2,297.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.1 %

14

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person:

PM Squared, LLC is 100% owned by Phil Stanley, the managing member.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, $0.001 par value
(b)	Name of Issuer: Mawson Infrastructure Group Inc.
(c)	Address of Issuer's Principal Executive Offices: 950 RAILROAD AVE, MIDLAND, PENNSYLVANIA , 15059.
Item 2.	Identity and Background
(a)	i) Endeavor Blockchain, LLC ii) Joshua Kilgore iii) Cody Smith iv) PM Squared, LLC (Together, the "Reporting Persons") Each of the Reporting Persons is a party to that certain Joint Filing Agreement, as further described in Item 6. Accordingly, the Reporting Persons are hereby filing a joint Amendment No 1 to Schedule 13D.
(b)	i) and ii) Endeavour Blockchain, LLC and Joshua Kilgore: 5701 Euper Lane, Suite A, Fort Smith, Arkansas 72903 iii) Cody Smith: 3801 Bent Elm Ln., Forth Worth,, TX iv) PM Squared, LLC: 6050 Southwest Blvd, Suite 150 Fort Worth, TX 76109
(c)	Each of the Reporting Persons are engaged in the business of investment. See Item 2(a).
(d)	The Reporting Persons have not, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e)	The Reporting Persons have not, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction, and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
(f)	i) Arkansas ii) United States iii) United States iv) Texas
Item 3.	Source and Amount of Funds or Other Consideration
	i) WC ii) PF iii) PF iv) WC
Item 4.	Purpose of Transaction
	The Reporting Persons purchased the common shares (the "Shares") of Mawson Infrastructure Group, Inc. (the "Issuer") based on the Reporting Persons' belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Shares at prices that would make the purchase or sale of Shares desirable, the Reporting Persons may endeavor to increase or decrease their position in the Issuer through, among other things, the purchase or sale of Shares on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable. The Reporting Persons intend to engage with the Issuer's management and Board of Directors regarding opportunities for value creation. No Reporting Person has any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) - (j) of Item 4 of Schedule 13D.
Item 5.	Interest in Securities of the Issuer
(a)	The percentages used in this Amendment No. 1 to Schedule 13D are based upon 3,304,639 Shares outstanding, as of December 16, 2025, as reported in the Issuer's Quarterly Report filed on November 14, 2025 and the Issuer's Current Report filed on December 17, 2025. All Shares are reported post 1 to 20 reverse stock split effective in November 2025. See rows (11) and (13) of the cover pages to this Amendment No. 1 to Schedule 13D for the aggregate number of Shares and percentage of the Shares beneficially owned by each of the Reporting Persons as of the close of business on December 26, 2025. The filing of this Amendment No. 1 to Schedule 13D shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer that he or it does not directly own. Each of the Reporting Persons specifically disclaims beneficial ownership of the securities reported herein that he or it does not directly own. Total aggregate shares owned by Reporting Persons: 1,345,297 Total aggregate percentage of class owned by Reporting Persons: 40.7%
(b)	See rows (7) through (10) of the cover pages to this Amendment No. 1 to Schedule 13D for the number of Shares as to which each Reporting Person has the sole or shared power to vote or direct the vote and the sole or shared power to dispose or to direct the disposition.
(c)	i) Purchase of 10,000 shares of the Issuer's common stock on January 6, 2026, at an average weighted purchase price of $4.52 per share, for a total purchase price of $45,218.60. Purchase of 100,000 shares of the Issuer's common stock on January 7, 2026, at an average weighted price of $4.52 per share, for a total purchase price of $452,153.50. Purchase of 160,000 shares of the Issuer's common stock on January 9, 2026, at an average weighted price of $4.56 per share, for a total purchase price of $730,051.70. ii) None iii) Purchase of 10,000 shares of the Issuer's common stock on December 26, 2025, at an average weighted price of $4.39 per share, for a total purchase price of $43,879.83. Purchase of 10,000 shares of the Issuer's common stock on January 6, 2026, at an average weighted price of $4.46 per share, for a total purchase price of $44,614.80. Purchase of 22,018 shares of the Issuer's common stock on January 12, 2026, at an average weighted price of $4.54 per share, for a total purchase price of $99,947.69. iv) None
(d)	Not applicable
(e)	Not applicable
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	The Joint Filing Agreement entered into by the Reporting Persons as of January 6, 2026, and attached as Exhibit 99.1 to Amendment No. 1 to Schedule 13D is incorporated herein by reference.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Endeavor Blockchain, LLC

Signature:	Joshua Kilgore
Name/Title:	Managing Member
Date:	01/12/2026

Joshua Kilgore

Signature:	Joshua Kilgore
Name/Title:	Individual
Date:	01/12/2026

Cody Smith

Signature:	Cody Smith
Name/Title:	Individual
Date:	01/12/2026

PM Squared, LLC

Signature:	Phil Stanley
Name/Title:	Managing Member
Date:	01/12/2025