Mawson Infrastructure Group Announces Upgrade to Exahash Targets, Financial Results for Fourth Quarter and Full Year 2021
Mawson Infrastructure Group (NASDAQ:MIGI) reported record financial results for FY 2021, achieving $43.9 million in revenue, a notable 886% increase from FY 2020. The company also recorded a gross profit of $34.0 million, up 2,526%. Non-GAAP EBITDA reached $17.9 million. The company produced 808 self-mined Bitcoin during the year. Mawson announced expansions including a new 100-megawatt facility in Pennsylvania and further developments in Georgia and Australia, aiming for 4 Exahash by Q3 2022 and 5.5 Exahash by Q1 2023.
- Record revenue of $43.9 million in FY 2021, up 886% YoY.
- Gross profit reached $34.0 million, increasing by 2,526% YoY.
- Non-GAAP EBITDA for FY 2021 was $17.9 million.
- 808 self-mined Bitcoin produced in FY 2021.
- New 100-megawatt facility signed in Pennsylvania.
- Expansion at Georgia facility commenced, aiming for 230 megawatts.
- None.
Full Year 2021 record revenue of
Full Year 2021 record gross profit of
Full Year 2021 record non-GAAP EBITDA of
Upgrade to Exahash targets – 4 Exahash by Q3 2022, 5.5 Exahash by early Q1 2023
808 Self-mined Bitcoin produced in FY 2021
New 100-megawatt facility in
100-megawatt expansion at
In early 2022, 100 megawatt hosting customer agreement executed and
First revenues from Mawson’s Hosting Co-location business
Aerial views of
Q4 2021 Financial and Business Highlights
-
Revenue of
compared to$19.6 million in Q3 2021, up$10.9 million 79% -
Gross profit of
, compared to$16.0 million in Q3 2021, up$8.4 million 89% -
Non-GAAP EBITDA of
, compared to$10.0 million in Q3 2021, up$3.3 million 203% -
Record 0.83 Exahash online reached on 22nd
December 2021 - Stage 2 of 100 megawatt expansion at Georgia Bitcoin mining facility ongoing
-
First Australian Bitcoin mining facility operational, in partnership with
Quinbrook Infrastructure Partners - Purchased an additional 4,000 latest generation ASIC bitcoin miners
-
Mawson’s
Luna Squares LLC hosting co-location business, utilizing the company’sModular Data Centre (MDC) technology continues to expand -
Mawson joins the
Bitcoin Mining Council -
Cosmos Asset Management launches ‘DIGA’ – The Cosmos Global Digital Miners Access ETF in
Australia
Full Year 2021 Financial and Business Highlights
-
Full year record revenue of
compared to$43.9 million in 2020; up$4.4 million 886% -
Full year record gross profit of
, compared to$34.0 million in 2020, up 2,$1.3 million 526% -
Full year record non-GAAP EBITDA of
$17.9 million -
New 100 megawatt Bitcoin mining facility in
Pennsylvania, USA signed - Stage 2 of 100 megawatt expansion at Georgia Bitcoin mining facility commenced
-
First Australian Bitcoin mining facility operational, in partnership with
Quinbrook Infrastructure Partners - Total available energy infrastructure capacity at Bitcoin mining facilities reaches 220 megawatts
-
Mawson’s
Luna Squares LLC hosting co-location business launched - Mawson lists on the Nasdaq Capital Market
-
Over 33,000 new ASIC Bitcoin Miners added in FY 2021 to fleet of over 40,000 as at
31 Dec 2021
Subsequent to Quarter End
-
New 100 megawatt hosting customer co-location agreement signed with
Celsius Mining LLC - Georgia, USA Bitcoin mining facility Stage 3 expansion approved to 230 megawatts, which could accommodate up to 7.5 Exahash of operational capacity
-
debt facility executed with$20M Celsius Mining LLC , to accelerate the rollout of our energy infrastructure capacity -
New 12 megawatt hosting co-location agreement signed with
Foundry Digital LLC
2022 Strategic Focus
- Expand existing Bitcoin mining operations from the expected end of March online hash rate of 1.5 Exahash, to our target of 4.0 Exahash by Q3, 2022 and to our target of 5.5 Exahash by early Q1 2023
-
Expand Luna Squares LLC hosting co-location business from the current 4 megawatts online to the 116 megawatts now contracted, and beyond -
Continue the ongoing expansion of the company’s
Georgia ,Pennsylvania and Australian Bitcoin Mining facilities - Continue to assess, and where appropriate, add more Bitcoin mining facilities to the global portfolio
- Continue to assess, and where appropriate, add more Bitcoin miners to global operations
- Evaluate opportunities to decrease the overall costs of Bitcoin production
- Continue with our strong ESG focus across our business
We also successfully launched our Luna Squares hosting co-location business, signed a new large-scale facility in
The Mawson team have put in a phenomenal effort these past 12 months and for that I am very grateful. We enter 2022 with a large bitcoin self-mining business, and a large scale hosting co-location business and I’m very excited for what 2022 has in store.”
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/20220321005519/en/
Investor Contact:
646-536-7331
brett@haydenir.com
www.haydenir.com
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