Mawson Infrastructure Group Announces Financial Results for Second Quarter 2022
Mawson Infrastructure Group (NASDAQ:MIGI) reported strong Q2 2022 financial results with revenue of
- Q2 2022 revenue of $19.8 million, up 236% vs Q2 2021.
- Non-GAAP EBITDA of $13.7 million, up 756% v Q2 2021.
- Produced 490 self-mined Bitcoin, up 286% v Q2 2021.
- Hosting co-location revenue increased to $3.57 million, up 536% v Q1 2022.
- Expansion of mining operations to 2.3 Exahash expected by Q4 2022.
- New 120-megawatt Texas Bitcoin Mining Facility signed with TPL.
- Gross profit flat at $5.4 million, indicating stagnant profitability despite revenue rise.
Q2 2022 revenue of
Q2 2022 non-GAAP EBITDA of
Q2 2022 gross profit of
490 Self-mined Bitcoin produced in Q2 2022, up
Mawson has approximately 40,000 ASIC Bitcoin Miners deployed across its Self-Mining and Hosting Co-location businesses
Mawson Energy Demand Response Program Participation Commences
Aerial view of
Q2 2022 Financial and Business Highlights
-
Q2 2022 revenue of
, up$19.8 Million 236% vs Q2 2021 -
Q2 2022 non-GAAP EBITDA of
, up$13.7 Million 756% v Q2 2021 -
Q2 2022 gross profit of
, flat v Q2 2021$5.4 Million -
490 Self-mined Bitcoin produced in Q2 2022, up
286% v Q2 2021 - Mawson Energy Demand Response Program Participation Commences
- Mawson has approximately 40,000 ASIC Bitcoin Miners deployed across its Self-Mining and Hosting Co-location businesses
-
Hosting Co-location revenue of
, up$3.57 Million 536% v Q1 2022 -
230-megawatt expansion at
Georgia, USA facility commences, capable of accommodating up to 7.5 Exahash -
New 120 megawatt Texas Bitcoin Mining Facility signed in partnership with
JAI Energy and Texas Pacific Land Corporation (NASDAQ:TPL), capable of accommodating up to 4.0 Exahash -
Positive energy load study received for Mawson’s second
Pennsylvania site in the town ofSharon , with 120 megawatts of capacity capable of accommodating up to 4.0 Exahash -
Mawson to become
33% shareholder in Tasmania Data Infrastructure, developer of a large-scale hydro powered Bitcoin Mining Facility inAustralia
Subsequent to Quarter End
-
in new capital raised in July to continue to build out digital infrastructure, potential strategic transactions and for general corporate purposes, including working capital.$10 Million
2022/23 Strategic Focus
- Expand existing Bitcoin Self-Mining operations from the end of July hash rate of 1.7 Exahash, to our anticipated 2.3 Exahash by Q4, 2022 and on to our anticipated 5.5 Exahash in 2023.
- Expand Mawson’s hosting co-location business from the 1.8 Exahash (54 megawatts) online at the end of June to our anticipated 3.0 Exahash (100 megawatts) by Q4, 2022 and on to our anticipated 6.5 Exahash (200 megawatts) in 2023.
-
Continue to develop the company’s
Georgia ,Pennsylvania ,Texas and Australian Bitcoin Mining facilities. - Continue to evaluate opportunities to decrease the overall costs of Bitcoin production.
- Continue with our strong ESG focus across our business.
Conference Call Details:
The company has scheduled a webcast for
A new Investor Presentation will be available on the website at www.mawsoninc.com prior to the call.
Conference Call Information:
Date:
Time:
Dial in Number for
Dial in Number for International Callers: 1-201-689-8471
Please Reference Conference ID: 13731984
The call will also be accompanied live by webcast and will be accessible at: https://viavid.webcasts.com/starthere.jsp?ei=1561902&tp_key=1890ad1a4d
To join the live conference call, please dial in to the above referenced telephone numbers five to ten minutes prior to the scheduled conference call time.
A replay will be available starting on
About
For more information, visit: www.mawsoninc.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Mawson cautions that statements in this press release that are not a description of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words referencing 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 by such forward-looking statements. These forward-looking statements are based upon Mawson’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, the possibility that Mawson’s need and ability to raise additional capital, the 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 in the value and prices of cryptocurrencies and further or new regulation of digital assets. More detailed information about the risks and uncertainties affecting Mawson is contained under the heading “Risk Factors” included in Mawson’s Annual Report on Form 10-K filed with the
View source version on businesswire.com: https://www.businesswire.com/news/home/20220822005438/en/
Investor Contact:
646-536-7331
brett@haydenir.com
www.haydenir.com
Source:
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