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Mawson Infrastructure Group expands to new Bitcoin mining site in Ohio, plans to increase hashpower by 1 EH/s – Mining Bitcoin News
Mawson Infrastructure Group announced Monday that the company has secured a new mine site in Corning, Ohio. The bitcoin mining company, on May 1, 2023, unveiled its plans to set up its miners at the new location by the 3rd quarter of this year, with a goal of increasing the operation’s hash power by 1 exahash per second (EH/s).
Bitcoin Miner Mawson Acquires 24 MW in Ohio with Room for Expansion
On 1 May 2023, Mawson Infrastructure Group revealed that they have signed an agreement for a new site in Ohio. This development comes on the heels of the company’s previous ventures in Pennsylvania and the decision to pull out of Australia.
The new mine facility, located in Ohio, is expected to offer an initial capacity of 24 MW. However, Mawson expects to expand its operations to utilize a further 26MW of power, effectively bringing the total capacity of the site to 50MW.
The mining company revealed that it already operates 240 MW of capacity in the surrounding area. “We are very pleased to have completed this new site. The addition of this site to our portfolio of assets in the region is a great achievement by the team that reinforces our revised strategy of focus in the PA/OH region,” commented Mawson’s CEO, James Manning.
Despite the expansion news, Mawson’s listed shares (Nasdaq: MIGI ) have seen a 5% drop in the past 24 hours and a 1.97% decline in the past month. Nevertheless, statistics for the past six months show an upward trend in MIGI shares of 11.26%, and so far this year, the shares have increased by more than 107%.
Mawson’s original plan for the Corning facility is to house 12 mobile data center (MDC) units and 7,056 miners. Both hosted and self-powered machines will be deployed at the new mining site. Just before the Ohio announcement, in April, Mawson sold its Greenfield Texas sites for $8.5 million.
What do you think the future holds for Mawson Infrastructure Group’s expansion plans in the PA/OH region? Share your thoughts on this topic in the comments section below.
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