BGDE · Big Digital Energy, Inc.

Big Digital Energy, Inc., a technology company, designs, develops, and operates digital infrastructure platforms in the United States. The company offers artificial intelligence and high-performance computing; digital asset colocation; and technology and information systems. The company was formerly known as Mawson Infrastructure Group Inc. and changed its name to Big Digital Energy, Inc. in April 2026. Big Digital Energy, Inc. is based in Midland, Pennsylvania.

Cap structure and valuation

Cap structure
SP	$6.36
SO	5.5M
Options	0.1M
Warrants	4.5M
FD SO	10.1M
MC	$64.1M

Cash	$2.4M
Total debt	$26.6M
EV	$88.2M

TTM Multiples
EV / Revenue	2.9x
EV / EBITDA	—
MC / Net Income	—
EV / FCF	—
MC / FCF	—

Ownership & coverage
Institutional	1.2%
Insiders	43.3%
# Institutions	12
Analysts	0
Consensus	—
Avg target	—

Short % float	5.7%
Days to cover	1.37

MC = SP × FD SO. EV = MC + Debt − Cash. SP = previous yfinance close. Balance-sheet figures as of 2026-05-07. Multiples use TTM (sum of last 4 quarters); shown as "—" when the denominator is zero or negative, or when fewer than four quarters are reported — a partial sum is not a trailing twelve months. Ownership & coverage per Yahoo Finance as of 2026-07-13 — institutional % is 13F-based, so it can lag a quarter and exceed 100% on share-count timing. Short interest per FINRA bi-monthly reporting, as of 2026-06-29; the float denominator can be unreliable on tiny floats.

Financial statements

	3/31/26	12/31/25	9/30/25	6/30/25
Total Revenue	4.82	3.23	13.17	9.53
Revenue YoY %	(65.1%)	(78.5%)	7.0%	(27.3%)
Cost of Revenue	3.81	4.31	4.61	5.60
Gross Profit	1.01	(1.08)	8.56	3.93
Gross Profit YoY %	(83.0%)	(123.1%)	98.2%	(8.9%)
Gross Margin %	20.9%	(33.3%)	65.0%	41.3%

SG&A	7.62	5.11	5.84	5.93
Operating Expense	9.16	13.80	6.98	10.51

Operating Income	(8.15)	(14.88)	1.58	(6.57)
Operating Income YoY %	(1513.5%)	(180.2%)	113.9%	2.7%
Operating Margin %	(169.1%)	(460.3%)	12.0%	(68.9%)
EBITDA	(6.95)	(13.58)	2.88	(5.07)
EBITDA Margin %	(144.2%)	(420.1%)	21.9%	(53.2%)

Interest Expense	0.95	0.89	0.87	0.83
Other Income / (Expense)	9.84	—	—	(0.64)
Pretax Income	0.74	(15.83)	0.42	(8.04)
Tax Provision	0.13	(0.17)	0.09	(0.02)
Net Income	0.61	(15.65)	0.33	(8.02)
Net Margin %	12.7%	(484.3%)	2.5%	(84.1%)

Diluted EPS	$0.12	-$19.71	$0.01	-$0.40
Basic EPS	$0.13	-$19.71	$0.02	-$0.40
Diluted Avg Shares	5.3	—	23.6	—
Basic Avg Shares	4.9	—	20.9	20.2

	LTM	12/31/25	12/31/24	12/31/23	12/31/22
Total Revenue	30.76	39.75	59.27	43.57	84.39
Revenue YoY %	(22.6%)	(32.9%)	36.0%	(48.4%)	—
Cost of Revenue	18.33	22.41	38.99	28.56	47.71
Gross Profit	12.43	17.34	20.28	15.01	36.67
Gross Profit YoY %	(28.4%)	(14.5%)	35.0%	(59.1%)	—
Gross Margin %	40.4%	43.6%	34.2%	34.5%	43.5%

SG&A	24.49	22.65	18.31	19.18	25.85
Operating Expense	40.45	36.64	51.43	75.33	80.76

Operating Income	(28.02)	(19.29)	(31.15)	(60.32)	(44.09)
Operating Income YoY %	(45.2%)	38.1%	48.4%	(36.8%)	—
Operating Margin %	(91.1%)	(48.5%)	(52.6%)	(138.4%)	(52.3%)
EBITDA	(22.72)	(13.69)	(13.25)	(22.22)	19.11
EBITDA Margin %	(73.9%)	(34.4%)	(22.4%)	(51.0%)	22.6%

Interest Expense	3.53	3.37	3.10	3.05	6.06
Other Income / (Expense)	8.85	(0.98)	(11.11)	10.77	(3.88)
Pretax Income	(22.70)	(23.64)	(45.36)	(52.60)	(54.04)
Tax Provision	0.03	0.01	0.98	5.95	—
Net Income	(22.74)	(23.66)	(46.34)	(58.55)	(54.04)
Net Income to Common	(22.74)	(23.66)	(46.13)	(60.42)	(52.76)
Net Margin %	(73.9%)	(59.5%)	(78.2%)	(134.4%)	(64.0%)

Diluted EPS	-$19.98	-$20.11	-$51.75	-$3.86	-$4.16
Basic EPS	-$19.96	-$20.11	-$51.75	-$3.86	-$4.16
Diluted Avg Shares	5.3	1.2	0.9	15.7	12.7
Basic Avg Shares	4.9	1.2	0.9	15.7	12.7

	3/31/26	12/31/25	9/30/25	6/30/25
Cash & Equivalents	2.44	13.27	2.28	3.24
Other Current Assets	17.42	14.22	18.87	15.75
Total Current Assets	19.86	27.49	21.15	18.99

Net PPE	21.43	22.58	23.80	25.13
Operating Lease ROU	2.89	3.24	2.99	3.33
Other Assets	4.21	4.13	4.07	5.29
Total Assets	48.39	57.44	52.02	52.74

Current Debt	26.50	25.18	24.15	23.11
Current Lease Liabilities	1.46	1.40	1.30	1.28
Other Current Liabilities	14.72	32.25	34.44	34.87
Total Current Liabilities	42.68	58.84	59.90	59.26
Long-term Lease Liabilities	1.37	1.72	1.52	1.82
Total Liabilities	44.05	60.56	61.42	61.08

Retained Earnings	(251.84)	(252.45)	(236.80)	(237.13)
Total Equity	4.34	(3.12)	(9.40)	(8.34)

	LTM	12/31/25	12/31/24	12/31/23	12/31/22
Cash & Equivalents	2.44	13.27	6.09	4.48	0.95
Other Current Assets	17.42	14.22	19.92	15.66	19.39
Total Current Assets	19.86	27.49	26.01	20.14	20.34

Net PPE	21.43	22.58	28.07	57.74	91.02
Operating Lease ROU	2.89	3.24	3.98	2.31	2.82
Long-term Investments	—	—	—	0.11	2.09
Other Assets	4.21	4.13	3.38	4.47	17.07
Total Assets	48.39	57.44	61.44	84.77	133.33

Accounts Payable	—	—	—	32.51	10.57
Current Debt	26.50	25.18	20.92	19.35	23.61
Current Lease Liabilities	1.46	1.40	1.27	1.42	1.30
Other Current Liabilities	14.72	32.25	39.76	—	—
Total Current Liabilities	42.68	58.84	61.95	53.32	35.51
Long-term Debt	—	—	—	0.05	4.51
Long-term Lease Liabilities	1.37	1.72	2.52	1.02	1.73
Other Liabilities	—	—	—	—	15.41
Total Liabilities	44.05	60.56	64.68	54.38	57.16

Retained Earnings	(251.84)	(252.45)	(228.80)	(182.67)	(122.26)
Total Equity	4.34	(3.12)	(3.24)	30.38	76.17

	3/31/26	12/31/25	9/30/25	6/30/25
Net Income	0.61	(15.65)	0.33	(8.02)
D&A	1.20	1.30	1.30	1.50
Stock-Based Comp	0.43	7.30	(1.40)	0.98
Δ Working Cap & Other	(19.37)	3.59	(1.07)	3.46
Operating Cash Flow	(17.13)	(3.47)	(0.84)	(2.08)

CapEx	(0.03)	(0.08)	(0.02)	(0.05)
Investing Cash Flow	(0.04)	(0.04)	(0.02)	(0.05)

Stock Issuance	6.41	—	—	—
Other Financing	—	14.50	—	—
Financing Cash Flow	6.34	14.50	(0.10)	(0.10)

Free Cash Flow	(17.16)	(3.55)	(0.86)	(2.13)

	LTM	12/31/25	12/31/24	12/31/23	12/31/22
Net Income	(22.74)	(23.66)	(46.34)	(58.55)	(54.04)
D&A	5.30	5.60	17.90	38.10	63.20
Stock-Based Comp	7.30	8.98	14.06	10.83	3.01
Δ Working Cap & Other	(13.39)	2.18	17.93	7.06	2.08
Operating Cash Flow	(23.52)	(6.90)	3.56	(2.55)	14.26

CapEx	(0.17)	(0.15)	(1.96)	(5.35)	(49.98)
Other Investing	—	—	0.84	16.09	17.44
Investing Cash Flow	(0.14)	(0.11)	(1.12)	10.74	(32.54)

Debt Repayment	—	—	(0.50)	(12.46)	(28.00)
Stock Issuance	—	14.64	—	6.19	6.70
Other Financing	20.64	—	—	1.62	35.29
Financing Cash Flow	20.64	14.19	(0.83)	(4.65)	13.99

Effect of FX on Cash	—	—	—	(0.02)	(0.22)

Free Cash Flow	(23.70)	(7.05)	1.60	(7.90)	(35.72)

	3/31/26	12/31/25	9/30/25	6/30/25
Current Ratio	0.47	0.47	0.35	0.32
Quick Ratio	—	—	—	—
Debt / Equity	10.14	-19.42	-6.53	-7.32
EBITDA Margin %	(144.2%)	(420.1%)	21.9%	(53.2%)
Working Capital	(22.82)	(31.35)	(38.75)	(40.26)
Net Debt	—	—	—	—
ROE %	14.0%	502.0%	(3.5%)	96.2%
ROA %	1.3%	(27.2%)	0.6%	(15.2%)

	LTM	12/31/25	12/31/24	12/31/23	12/31/22
Current Ratio	0.47	0.47	0.42	0.38	0.57
Quick Ratio	—	—	—	—	—
Debt / Equity	10.14	-19.42	-19.97	1.79	0.75
EBITDA Margin %	(73.9%)	(34.4%)	(22.4%)	(51.0%)	22.6%
Working Capital	(22.82)	(31.35)	(35.94)	(33.18)	(15.17)
Net Debt	—	—	—	(4.43)	3.56
ROE %	(523.4%)	758.8%	1430.7%	(192.7%)	(70.9%)
ROA %	(47.0%)	(41.2%)	(75.4%)	(69.1%)	(40.5%)

Insider activity (last 2 years)

Date Filed	Reporter	Relationship	Trans. Date	Code	Shares	Price	Total Value
2026-07-10	Endeavor Blockchain, LLC	10% Owner	2026-06-30	P	16,700	$1,000.00	$16,700,000
2026-07-02	Endeavor Blockchain, LLC	10% Owner	2026-06-30	P	16,700	$1,000.00	$16,700,000
2026-06-15	Endeavor Blockchain, LLC	10% Owner	2026-06-12	P	8	$7.62	$61
2026-06-15	Endeavor Blockchain, LLC	10% Owner	2026-06-12	P	25,776	$7.33	$188,938
2026-06-15	Endeavor Blockchain, LLC	10% Owner	2026-06-11	P	24,224	$6.99	$169,326
2026-06-15	Endeavor Blockchain, LLC	10% Owner	2026-06-11	P	9,662	$7.19	$69,470
2026-06-15	Endeavor Blockchain, LLC	10% Owner	2026-06-11	P	10,000	$7.05	$70,500
2026-06-12	Hough Lisa	Director	2026-06-12	P	1,000	$7.46	$7,460
2026-06-12	Morrison Daniel J	Director	2026-06-12	P	3,021	$7.50	$22,658
2026-06-12	Davis Rodger	Director	2026-06-11	P	2,000	$7.04	$14,080
2026-06-11	Danges Kyle B.	Director	2026-06-11	P	1,000	$6.75	$6,750
2026-06-11	Danges Kyle B.	Director	2026-06-11	P	500	$6.72	$3,359
2026-06-11	Danges Kyle B.	Director	2026-06-11	P	273	$7.05	$1,925
2026-06-11	Danges Kyle B.	Director	2026-06-11	P	1,227	$7.13	$8,751
2026-05-13	Saloom Kaliste	Officer (See Remarks)	2026-04-06	M	17,365	—	$0
2026-05-13	Saloom Kaliste	Officer (See Remarks)	2026-04-06	F	(5,604)	$2.59	-$14,514
2026-05-13	Saloom Kaliste	Officer (See Remarks)	2026-04-06	M	(11,962)	—	$-0
2026-05-13	Saloom Kaliste	Officer (See Remarks)	2026-04-06	M	(5,403)	—	$-0
2026-05-13	REGAN WILLIAM C	Officer (Chief Financial Officer)	2026-04-06	M	23,923	—	$0
2026-05-13	REGAN WILLIAM C	Officer (Chief Financial Officer)	2026-04-06	F	(8,183)	$2.59	-$21,194
2026-05-13	REGAN WILLIAM C	Officer (Chief Financial Officer)	2026-04-06	M	(23,923)	—	$-0
2026-01-30	Endeavor Blockchain, LLC	10% Owner	2026-01-28	P	40,000	$4.57	$182,800
2026-01-30	Endeavor Blockchain, LLC	10% Owner	2026-01-28	P	2,100	$4.62	$9,702
2026-01-26	Endeavor Blockchain, LLC	10% Owner	2026-01-26	P	60,000	$4.84	$290,400
2026-01-22	Endeavor Blockchain, LLC	10% Owner	2025-12-16	P	20,000	$4.07	$81,400
2026-01-22	Endeavor Blockchain, LLC	10% Owner	2025-12-16	P	245	$4.03	$987
2026-01-22	Endeavor Blockchain, LLC	10% Owner	2025-12-15	P	50,000	$4.31	$215,500
2026-01-22	Endeavor Blockchain, LLC	10% Owner	2025-12-15	P	10,000	$4.60	$46,000
2026-01-22	Endeavor Blockchain, LLC	10% Owner	2025-12-12	P	98,000	$5.37	$526,260
2026-01-22	Endeavor Blockchain, LLC	10% Owner	2025-12-11	P	122,000	$8.38	$1,022,360
2026-01-22	Endeavor Blockchain, LLC	10% Owner	2025-12-11	P	2,000	$12.00	$24,000
2026-01-22	Endeavor Blockchain, LLC	10% Owner	2025-12-10	P	105,000	$6.01	$631,050
2026-01-22	Endeavor Blockchain, LLC	10% Owner	2025-12-10	P	5	$4.94	$25
2026-01-22	Endeavor Blockchain, LLC	10% Owner	2025-12-09	P	70,000	$4.74	$331,800
2026-01-22	Endeavor Blockchain, LLC	10% Owner	2025-12-09	P	106	$4.68	$496
2026-01-22	Endeavor Blockchain, LLC	10% Owner	2025-12-08	P	50,189	$4.37	$219,326
2026-01-22	Endeavor Blockchain, LLC	10% Owner	2025-12-08	P	112	$4.45	$498
2026-01-22	Endeavor Blockchain, LLC	10% Owner	2025-12-05	P	99,811	$4.41	$440,167
2026-01-22	Endeavor Blockchain, LLC	10% Owner	2025-12-05	P	10,000	$4.20	$42,000
2026-01-22	Endeavor Blockchain, LLC	10% Owner	2025-12-05	P	380	$4.20	$1,596
2026-01-22	Endeavor Blockchain, LLC	10% Owner	2025-12-03	P	52,850	$4.85	$256,322
2026-01-22	Endeavor Blockchain, LLC	10% Owner	2025-12-03	P	1,000	$4.89	$4,890
2026-01-22	Endeavor Blockchain, LLC	10% Owner	2025-12-03	P	5,982	$4.79	$28,654
2026-01-22	Endeavor Blockchain, LLC	10% Owner	2025-12-02	P	17,150	$4.90	$84,035
2026-01-22	Endeavor Blockchain, LLC	10% Owner	2025-12-02	P	1,449	$4.91	$7,115
2026-01-22	Endeavor Blockchain, LLC	10% Owner	2025-12-01	P	29,000	$4.83	$140,070
2026-01-22	Endeavor Blockchain, LLC	10% Owner	2025-11-28	P	1,000	$5.23	$5,230
2026-01-22	Endeavor Blockchain, LLC	10% Owner	2025-11-28	P	5,000	$5.18	$25,900
2026-01-22	Endeavor Blockchain, LLC	10% Owner	2025-11-26	P	50,000	$5.06	$253,000
2026-01-21	Endeavor Blockchain, LLC	10% Owner	2026-01-16	P	140,000	$4.68	$655,200
2026-01-12	Endeavor Blockchain, LLC	10% Owner	2026-01-12	P	22,018	$4.54	$99,962
2026-01-12	Endeavor Blockchain, LLC	10% Owner	2026-01-09	P	160,000	$4.56	$729,600
2026-01-12	Endeavor Blockchain, LLC	10% Owner	2026-01-07	P	100,000	$4.52	$452,000
2026-01-12	Endeavor Blockchain, LLC	10% Owner	2026-01-06	P	10,000	$4.52	$45,200
2026-01-12	Endeavor Blockchain, LLC	10% Owner	2026-01-06	P	10,000	$4.46	$44,600
2026-01-12	Endeavor Blockchain, LLC	10% Owner	2026-01-05	P	10,000	$4.60	$46,000
2026-01-12	Endeavor Blockchain, LLC	10% Owner	2025-12-29	P	20,000	$4.55	$91,000
2026-01-12	Endeavor Blockchain, LLC	10% Owner	2025-12-26	P	45,000	$4.33	$194,850
2026-01-12	Endeavor Blockchain, LLC	10% Owner	2025-12-26	P	10,000	$4.39	$43,900
2026-01-06	Saloom Kaliste	Officer (See Remarks)	2026-01-05	M	4,099	—	$0
2026-01-06	Saloom Kaliste	Officer (See Remarks)	2026-01-05	F	(1,342)	$4.55	-$6,106
2026-01-06	Saloom Kaliste	Officer (See Remarks)	2026-01-05	M	(4,099)	—	$-0
2026-01-06	REGAN WILLIAM C	Officer (Chief Financial Officer)	2026-01-05	M	8,197	—	$0
2026-01-06	REGAN WILLIAM C	Officer (Chief Financial Officer)	2026-01-05	F	(3,078)	$4.55	-$14,005
2026-01-06	REGAN WILLIAM C	Officer (Chief Financial Officer)	2026-01-05	M	(8,197)	—	$-0
2025-12-29	Saloom Kaliste	Officer (See Remarks)	2025-12-24	F	(6,564)	$4.18	-$27,438
2025-12-29	REGAN WILLIAM C	Officer (Chief Financial Officer)	2025-12-24	F	(7,730)	$4.18	-$32,311
2025-12-22	Saloom Kaliste	Officer (Interim CEO, GC & CS)	2025-12-18	A	23,923	—	$0
2025-12-22	Saloom Kaliste	Officer (Interim CEO, GC & CS)	2025-12-18	A	11,962	—	$0
2025-12-22	REGAN WILLIAM C	Officer (Chief Financial Officer)	2025-12-18	A	23,923	—	$0
2025-12-22	REGAN WILLIAM C	Officer (Chief Financial Officer)	2025-12-18	A	23,923	—	$0
2025-11-12	Soles Steven	Director	2025-11-10	M	36,188	—	$0
2025-11-12	Soles Steven	Director	2025-11-10	M	36,188	—	$0
2025-11-12	Schellenger Kathryn Yingling	Director	2025-11-07	A	156,619	—	$0
2025-11-12	Soles Steven	Director	2025-11-07	A	36,188	—	$0
2025-11-12	Soles Steven	Director	2025-11-07	A	138,053	—	$0
2025-11-12	Costello Ryan	Director	2025-11-07	A	197,570	—	$0
2025-10-07	Costello Ryan	Director	2025-09-30	M	(113,473)	—	$-0
2025-10-02	Costello Ryan	Director	2025-09-30	M	113,473	—	$0
2025-10-02	Costello Ryan	Director	2025-09-30	M	(113,473)	—	$-0
2025-10-02	Saloom Kaliste	Officer (ICEO, General Counsel & CS)	2025-08-26	M	36,023	—	$0
2025-10-02	Saloom Kaliste	Officer (ICEO, General Counsel & CS)	2025-08-26	F	9,885	$0.43	$4,251
2025-10-02	Saloom Kaliste	Officer (ICEO, General Counsel & CS)	2025-08-26	M	(36,023)	—	$-0
2025-10-02	Saloom Kaliste	Officer (ICEO, General Counsel & CS)	2025-05-15	A	81,967	—	$0
2025-10-02	REGAN WILLIAM C	Officer (Chief Financial Officer)	2025-05-15	A	163,934	—	$0
2025-06-16	Saloom Kaliste	Officer (See Remarks)	2025-05-12	M	126,263	—	$0
2025-06-16	Saloom Kaliste	Officer (See Remarks)	2025-05-12	F	(34,647)	$0.40	-$13,720
2025-06-16	Saloom Kaliste	Officer (See Remarks)	2025-05-06	A	126,263	—	$0
2025-06-16	Saloom Kaliste	Officer (See Remarks)	2025-05-06	M	126,263	—	$0
2025-05-27	MEWAWALLA RAHUL	Director, Officer (Director, CEO, President), 10% Owner	2025-05-22	M	833,333	—	$0
2025-05-27	MEWAWALLA RAHUL	Director, Officer (Director, CEO, President), 10% Owner	2025-05-22	F	(332,750)	$0.60	-$199,650
2025-05-27	MEWAWALLA RAHUL	Director, Officer (Director, CEO, President), 10% Owner	2025-05-22	M	(833,333)	—	$-0
2025-05-27	Saloom Kaliste	Officer (General Counsel & Corp. Secry.)	2025-03-31	M	158,730	—	$0
2025-05-27	Saloom Kaliste	Officer (General Counsel & Corp. Secry.)	2025-03-31	F	(75,387)	$0.50	-$37,694
2025-05-27	Saloom Kaliste	Officer (General Counsel & Corp. Secry.)	2025-03-31	M	158,730	—	$0
2025-05-27	Saloom Kaliste	Officer (General Counsel & Corp. Secry.)	2024-07-01	A	144,093	—	$0
2025-04-02	MEWAWALLA RAHUL	Director, Officer (Director, CEO, President), 10% Owner	2025-03-31	M	1,587,302	—	$0
2025-04-02	MEWAWALLA RAHUL	Director, Officer (Director, CEO, President), 10% Owner	2025-03-31	F	(633,713)	$0.50	-$316,856
2025-04-02	MEWAWALLA RAHUL	Director, Officer (Director, CEO, President), 10% Owner	2025-03-31	M	(1,587,302)	—	$-0
2025-02-28	MEWAWALLA RAHUL	Director, Officer (Director, CEO, President), 10% Owner	2025-02-26	A	1,235,030	—	$0
2024-09-18	Costello Ryan	Director	2024-09-13	S	(15,000)	$1.28	-$19,200
2024-09-18	Costello Ryan	Director	2024-09-13	S	(10,000)	$1.20	-$12,000
2024-09-18	Costello Ryan	Director	2024-09-13	S	(7,075)	$1.26	-$8,914
2024-09-18	Costello Ryan	Director	2024-09-13	S	(2,900)	$1.27	-$3,683
2024-09-18	Costello Ryan	Director	2024-09-13	S	(1,325)	$1.27	-$1,683
2024-09-18	Costello Ryan	Director	2024-09-13	S	(700)	$1.27	-$889
2024-09-18	Costello Ryan	Director	2024-09-13	S	(11,395)	$1.24	-$14,130
2024-09-09	MEWAWALLA RAHUL	Director, Officer (Director, CEO, President), 10% Owner	2024-09-09	A	2,500,000	—	$0