ATLANTA–(BUSINESS WIRE)–Mawson Infrastructure Group Inc. (NASDAQ:MIGI) (“Mawson”), a digital infrastructure provider, announces unaudited Bitcoin production and operations update for June 2022.
Mawson Self-Mining and Hosting Co-location operational capacity of approximately 3.1 Exahash at the end of June, expected to rise to approximately 3.5 Exahash by the end of July 2022.
Bitcoin Self-Mining Update:
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In June, Mawson produced 127 Bitcoin, +140% compared to June 2021
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Average hash rate in June of about 1.0 Exahash, +260% compared to June 2021
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Mawson Self-Mining delivered and fully paid for operational mining capacity of approx. 2.3 Exahash, expected to operate at reduced average hash rate levels in July given active participation in energy demand response programs
Hosting Co-location Update:
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Mawson Hosting Co-location at 54 megawatts online at the end of June, expected to rise to approximately 67 megawatts online by the end of July (+24% vs. June 2022), as Mawson’s hosting co-location business continues to deploy, providing an additional revenue stream for the company, paid in USD, beyond Mawson’s Bitcoin Self-Mining business unit.
Operational update:
In June, Mawson continued its operational deployment and began its participation in energy demand response programs to reduce overall costs. Mawson’s final shipment of Bitcoin Self-Mining ASICs has now been delivered, which will be distributed across the company’s operations over the coming months. Mawson produced 127 Self-Mined Bitcoin in June, up +140% compared to June 2021. Mawson now has over 40,000 ASIC Bitcoin Miners deployed at its facilities across its Self-Mining and Hosting Co-location businesses.
Balance strengthened in July:
In July, Mawson raised a total of $10 million in new capital to strengthen its balance sheet and provide flexibility given the recent Chapter 11 filing of major hosting customer Celsius Mining LLC. To date, the Celsius Mining LLC Hosting Co-location Agreement continues to operate, with deployment of miners continuing in July.
James Manning, CEO and founder of Mawsonsaid, “The month of June was characterized by continued deployments of our hosting co-location business, establishment of energy demand response programs and further deployments of our Bitcoin Self-Mining business. Markets have been volatile and we made the prudent decision to defer all major forward investments until market conditions normalise, as well as raising $10 million in new capital to strengthen our balance sheet, this, combined with the fact that we have no more outstanding ASIC Bitcoin Miner deliveries, puts Mawson in a solid position to weather the current market volatility. We continue to receive incoming inquiries for hosting co-location services given our large amount of energy infrastructure capacity available for Bitcoin Mining.
About Mawson Infrastructure
Mawson Infrastructure Group (NASDAQ: MIGI) is a digital infrastructure provider, with multiple operations throughout the US and Australia. Mawson’s vertically integrated model is based on a long-term strategy to promote the global transition to the new digital economy. Mawson matches sustainable energy infrastructure with next-generation Mobile Data Center (MDC) solutions, enabling low-cost production of Bitcoin and distribution of infrastructure resources on demand. With a strong focus on shareholder returns and an aligned board and management, Mawson Infrastructure Group emerges as a global leader in ESG-focused Bitcoin mining and digital infrastructure.
For more information, visit: www.mawsoninc.com
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
Mawson cautions that statements in this press release that are not statements of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words referring to future events or circumstances such as “expect,” “intend”, “plan”, “anticipate”, “believe” and “will” among others. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied in such forward-looking statements. These forward-looking statements are based on Mawson’s current expectations and involve assumptions that may never be realized or that may prove to be incorrect. Actual results and the timing of events may differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, including, without limitation, the possibility that Mawson’s need and ability to raise additional capital, its development and acceptance. of digital asset networks and digital assets and their protocols and software, the reduction in incentives to mine digital assets over time, the costs associated with digital asset mining, the volatility of the value and prices of cryptocurrencies and additional or new regulation of digital assets. More detailed information about the risks and uncertainties affecting Mawson can be found under the heading “Risk Factors” included in Mawson’s Annual Report on Form 10-K filed with the SEC on March 21, 2022, and Mawson’s Quarterly Report on Form 10-Q filed with the SEC on May 16, 2022, and in other filings Mawson has made and may make with the SEC in the future. Undue reliance should not be placed on these forward-looking statements, which speak only as of the date they are made. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied in such forward-looking statements. Mawson undertakes no obligation to update such statements to reflect events occurring or circumstances existing after the date they are made, except as may be required by law.
