Mawson Infrastructure Group Inc. - MIGI STOCK NEWS

Mawson Infrastructure Group Inc. (NASDAQ: MIGI) has announced its expansion into Ohio, bolstering its AI and HPC growth capacities. This move is expected to increase the company's total capacity from 129 MW to approximately 153 MW. Mawson has secured a lease amendment for an extended 9-year term through April 2033, with an initial 24 MW capacity.

The expansion further increases Mawson's footprint in the PJM market, the largest wholesale electric market in North America. CEO Rahul Mewawalla highlighted the attractiveness of this market for AI and HPC operations, noting that major tech companies are also expanding their presence there. Mawson is inviting additional AI and HPC partners for collaboration and innovation, emphasizing its Carbon-Free energy approach, including nuclear energy.

Mawson Infrastructure Group Inc. (NASDAQ: MIGI) reported significant progress in July 2024, with 54% year-over-year growth in digital assets colocation revenue. The company expanded its Midland Facility to 120MW, increasing overall operating capacity to 129MW. Mawson entered the AI and HPC colocation markets, signing a 20MW agreement to host NVIDIA GPUs, potentially generating $285 million over a 6-year term. A non-binding LOI could increase this capacity to 144MW. July's overall revenue was $3.94 million, with digital asset colocation revenue at $2.75 million. The company is expanding its digital infrastructure platform across AI, HPC, and digital assets markets, aiming for sustainable growth and increased shareholder value.

Mawson Infrastructure Group Inc. (NASDAQ: MIGI) reported strong Q2 2024 financial results, with total revenue increasing 24% Y/Y to $13.11 million. The company's digital colocation business saw a 77% Y/Y revenue increase to $8.13 million, while its energy management business grew 70% Y/Y to $1.73 million. Mawson completed a 20 MW expansion of its Midland facilities, increasing capacity to 120 MW. The company also expanded into AI and HPC colocation markets, executing a 20 MW agreement to host NVIDIA GPUs. Mawson's Bitcoin production for Q2 was 49 BTC, generating $3.25 million in self-mining revenue. The company has successfully diversified its operations, signed new colocation agreements, and positioned itself for growth in digital assets, AI, and HPC markets.

Mawson Infrastructure Group Inc. (NASDAQ: MIGI) announced its participation in the World Summit AI (WSAI) scheduled for October 9-10, 2024, in Amsterdam. CEO and President Rahul Mewawalla will represent Mawson at this major AI innovation event. This aligns with Mawson's recent expansion into AI and HPC markets, positioning the company as a rising player in accelerated computing.

The WSAI brings together global AI innovators, including industry leaders like NVIDIA, Google, Amazon, and Meta. Mawson's participation follows its recent announcement of an AI/HPC colocation customer agreement and reflects its vision to be at the forefront of next-generation digital infrastructure platforms for AI, HPC, and digital assets.

Mawson Infrastructure Group Inc. (NASDAQ: MIGI) has entered the AI and HPC markets with a significant colocation agreement. The company signed a 6-year contract for 20 MW of digital infrastructure services with BE Global Development , potentially generating $285 million in cumulative revenue. The initial deployment is expected in Q1 2025, with $92 million potential revenue in the first two years.

Additionally, Mawson signed a non-binding LOI to expand the AI/HPC colocation business to 144 MW, potentially increasing capacity by 6x. This move positions Mawson as a competitive provider in the AI and HPC infrastructure market, which is projected to grow to over $200 billion by 2030. The expansion is expected to enhance Mawson's earnings power and create a powerful digital infrastructure platform across AI, HPC, and digital assets.

Mawson Infrastructure Group Inc. (NASDAQ: MIGI), a publicly traded digital infrastructure company, has announced its participation in the 2024 Annual Gateway Conference in San Francisco, CA. The event is scheduled for September 4-5, 2024.

Key points:

• CEO and President Rahul Mewawalla will present on September 5th at 10:00 a.m. PT / 1:00 p.m. ET
• The conference will feature over 100 invite-only companies from various sectors
• Sectors represented include technology, cleantech, consumer, industrials, and financial services
• The event aims to connect growth companies with investors, analysts, and capital markets constituents

For additional information, interested parties can email IR@mawsoninc.com or visit the conference website at https://www.gateway-grp.com/conference.

Mawson Infrastructure Group Inc. (NASDAQ: MIGI) reported strong growth in its June 2024 operational update. The company's digital colocation business revenue increased 56% year-over-year to $2.48 million, while energy management revenue surged 262% year-over-year to $0.74 million. Mawson completed a 20 MW facility expansion, increasing total capacity to 129 MW and 41,530 miners.

The company also expanded its digital computation expertise by executing a colocation agreement for about 5,880 IceRiver KAS KS3M miners to mine Kaspa (KAS), the fifth-largest proof-of-work digital asset by market cap. This move allows Mawson to broaden its expertise across various digital assets and high-performance computing solutions.

Overall monthly revenue reached approximately $3.81 million, equivalent to about 58 BTC. The company's CEO, Rahul Mewawalla, expressed excitement about accelerating innovation across the broader ecosystem and advancing next-gen compute resources.

Mawson Infrastructure Group Inc. (NASDAQ: MIGI) has announced several strategic new hires to drive growth initiatives and expand capabilities across AI, HPC, and third-party managed sites. The company aims to enhance its digital infrastructure to meet the growing demand for compute resources. Key appointments include:

- Max Franklin as Director of Strategic Partnerships and Sales
- Annie Bass as Director of Finance
- Adam Yaeger as Senior Corporate Counsel
- Stephanie Massingill as Director of Finance
- Jonathan Sites as Director of Human Resources

These hires bring expertise from various industries and are expected to strengthen Mawson's position in the digital infrastructure sector. CEO Rahul Mewawalla emphasized the company's focus on transformation and growth in response to the increasing value of digital infrastructure for computing capabilities.

Mawson Infrastructure Group has completed its planned expansion at the Midland, Pennsylvania digital infrastructure and bitcoin mining facility. The site, now one of the largest in the PJM market, has increased its capacity by 20% to approximately 120 MW, supporting around 38,810 ASIC miners. This expansion brings Mawson’s total operational capacity to about 129 MW with a capacity for 41,530 miners, including its Bellefonte facility. CEO Rahul Mewawalla highlighted the strategic importance of the greater Pittsburgh area for digital infrastructure, emphasizing the benefits of the expansion for Mawson’s growth and innovation in digital assets, AI, and high-performance computing.