Mawson Infrastructure Group In - MIGI STOCK NEWS

Mawson Infrastructure Group (NASDAQ: MIGI) has appointed William C. Regan as Chief Financial Officer effective January 17, 2025. Regan, who joined as Deputy CFO in 2024, brings 40 years of finance and accounting experience, including 25 years at public companies and 10 years at technology companies.

The company, focused on digital infrastructure platforms for AI, HPC, and digital assets markets, has reported significant developments including robust year-on-year revenue growth in digital colocation business, acquisition of enterprise-grade customers, and expansion into AI and high-performance computing markets. Former CFO Sandy Harrison has stepped down to spend more time with family but will continue serving as Senior Advisor.

The company has also strengthened its leadership team with hires from Amazon Web Services and Apple, positioning itself as one of the largest digital colocation businesses among publicly-traded peers.

Mawson Infrastructure Group (NASDAQ: MIGI) reported strong growth in December 2024, with Digital Colocation Monthly Revenue increasing 69% year-over-year to $4.49 million and Total Monthly Revenue reaching $5.26 million, up 7% month-over-month. The company's Total Current Operating Hash Rate stands at 4.98 EH/s, with expectations to reach 5.10 EH/s following recent developments.

The company recently secured a new 12-month digital colocation agreement with a NASDAQ-listed company for 5,880 miners (approximately 20 MW). Upon completion of this deployment, Mawson will operate about 41,500 miners. The company's current operating capacity of 129 MW is expected to expand to 153 MW with the completion of its Ohio facility in 2025.

Monthly Energy Management Business Revenue increased 25% month-over-month to $0.41 million, while Digital Assets Mining Monthly Business Revenue was $0.36 million in December 2024.

Mawson Infrastructure Group (NASDAQ: MIGI) has signed a new 12-month digital colocation agreement with an unnamed NASDAQ-listed company on January 3, 2025. The agreement covers services for 5,880 miners, utilizing approximately 20 MW of capacity at Mawson's facilities, with potential for future expansion.

Upon deployment completion, Mawson expects to manage approximately 41,508 miners with a combined operating hashrate of 5.10 EH/s across its facilities. The company currently operates at 129 MW capacity and is developing an additional site in Ohio that will add 24 MW, bringing total operating capacity to 153 MW.

The agreement strengthens Mawson's position in the PJM market, North America's largest competitive wholesale power market, and aligns with their strategy of optimizing digital infrastructure assets while providing enterprise-class compute solutions.

Mawson Infrastructure Group (NASDAQ: MIGI) released its November 2024 operational update, highlighting significant growth in its digital infrastructure business. The company reported a 111% year-over-year increase in Monthly Digital Colocation Revenue, reaching $4.18 million compared to $1.98 million in November 2023.

Total Monthly Revenue reached $4.91 million, showing a 2% Y/Y and 0.5% M/M growth. The company maintains a Current Total Operating Capacity of 129 MW, expected to expand to 153 MW upon completion of its Ohio facility. The Combined Total Current Operating Hash Rate stands at approximately 4.98 EH/s, including both colocation and self-mining operations.

Mawson Infrastructure Group (NASDAQ: MIGI) has responded to false media reports about filing voluntary Chapter 11. The company clarifies that Australian entities, W Capital Advisors Fund and Marshall Investments MIG Trust, have filed an involuntary Chapter 11 petition against them. Mawson's Board intends to vigorously defend against this filing and continues normal operations.

The company has raised concerns about W Capital Advisors and former director James Manning being related parties. Manning is under investigation by Mawson's Audit Committee regarding dealings with W Capital and other matters. Mawson is also involved in litigation with Vertua Property, related to Manning and affiliated with W Capital, regarding alleged self-dealing and breach of contract for their Sharon, PA property.

Mawson Infrastructure Group (NASDAQ: MIGI) announced it will ring the Closing Bell at NASDAQ on November 21, 2024. CEO Rahul Mewawalla, along with the board of directors and management team, will participate in the ceremony at the Nasdaq MarketSite in Times Square, New York City. The event celebrates the company's recent accomplishments in digital infrastructure platforms for artificial intelligence, high-performance computing, and digital assets markets. The ceremony will be broadcasted globally and streamed live from 3:45 p.m. to 4:00 p.m. ET.

Mawson Infrastructure Group (NASDAQ: MIGI) reported strong growth in October 2024, with total monthly revenue reaching $4.89 million, up 49% year-over-year and 18% month-over-month. The company's Digital Colocation business generated $3.96 million in monthly revenue, showing significant growth from $0.08 million in October 2023. Energy Management revenue was $0.70 million, up 13% month-over-month, while Digital Assets Mining revenue reached $0.22 million, increasing 25% from September 2024.

Mawson Infrastructure Group (NASDAQ: MIGI), a technology company specializing in digital infrastructure platforms for AI, high-performance computing, and digital assets, has announced its participation in the Roth 13th Annual Technology Conference in New York City, November 19-20, 2024. CEO and President Rahul Mewawalla and leadership team members will attend the conference, which features meetings with over 100 growth companies in the technology sector. Mewawalla will engage with investors to discuss the company's business strategy and recent developments.

Mawson Infrastructure Group (NASDAQ: MIGI) reported strong Q3 2024 financial results, with notable growth across its business segments. The company's digital colocation business saw a 222% year-over-year revenue increase to $9.52 million, while its energy management business grew 33% to $1.96 million. Total revenue increased 50% year-to-date and 9% year-over-year to $12.32 million. The company expanded into AI and HPC markets, signing a 20 MW agreement for NVIDIA GPU colocation with potential revenue of $92 million in the first two years and $285 million over six years. Mawson's operating capacity is currently 129 MW, with plans to expand to 153 MW in the PJM market.