Water content, whether as free or lattice-bound water, is a crucial factor in determining the Earth’s internal thermal state and plays a key role in volcanic eruptions, melting phenomena, and mantle convection rates. As electrical conductivity in the Earth’s interior is highly sensitive to water content, it is an important geophysical parameter for understanding the deep Earth water content. Since its launch on May 21, 2023, the MSS-1 (Macau Science Satellite-1) mission has operated for nearly one year, with its magnetometer achieving a precision of higher than 0.5 nT after orbital testing and calibration. Orbiting at 450 kilometers with a unique 41-degree inclination, the satellite enables high-density observations across multiple local times, allowing detailed monitoring of low-latitude regions and enhancing data for global conductivity imaging. To better understand the global distribution of water within the Earth’s interior, it is crucial to study internal conductivity structure and water content distribution. To this aim, we introduce a method for using MSS-1 data to estamate induced magnetic fields related to magnetospheric currents. We then develop a trans-dimensional Bayesian approach to reveal Earth’s internal conductivity, providing probable conductivity structure with an uncertainty analysis. Finally, by integrating known mineral composition, pressure, and temperature distribution within the mantle, we estimate the water content range in the mantle transition zone, concluding that this region may contain the equivalent of up to 3.0 oceans of water, providing compelling evidence that supports the hypothesis of a deep water cycle within the Earth’s interior.