Mawson Infrastructure Group Expands to Ohio for AI/HPC Expansion
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) ha annunciato la sua espansione in Ohio, rafforzando la sua capacità di crescita nell'AI e nell'HPC. Questo passo dovrebbe aumentare la capacità totale dell'azienda da 129 MW a circa 153 MW. Mawson ha ottenuto un emendamento al contratto di locazione per un'estensione di 9 anni fino ad aprile 2033, con una capacità iniziale di 24 MW.
L'espansione aumenta ulteriormente la presenza di Mawson nel mercato PJM, il più grande mercato elettrico all'ingrosso in Nord America. Il CEO Rahul Mewawalla ha sottolineato l'attrattività di questo mercato per le operazioni di AI e HPC, notando che anche grandi aziende tecnologiche stanno espandendo la loro presenza lì. Mawson sta invitando ulteriori partner nell'AI e nell'HPC per collaborazioni e innovazioni, sottolineando il suo approccio a energia senza carbonio, compresa l'energia nucleare.
Mawson Infrastructure Group Inc. (NASDAQ: MIGI) ha anunciado su expansión en Ohio, fortaleciendo su capacidad de crecimiento en IA y HPC. Este movimiento se espera que aumente la capacidad total de la empresa de 129 MW a aproximadamente 153 MW. Mawson ha asegurado una enmienda de arrendamiento por un plazo extendido de 9 años hasta abril de 2033, con una capacidad inicial de 24 MW.
La expansión aumenta aún más la huella de Mawson en el mercado PJM, el mayor mercado mayorista eléctrico de América del Norte. El CEO Rahul Mewawalla destacó la atractividad de este mercado para las operaciones de IA y HPC, señalando que grandes compañías tecnológicas también están expandiendo su presencia allí. Mawson está invitando a socios adicionales de IA y HPC para la colaboración y la innovación, enfatizando su enfoque de energía libre de carbono, incluida la energía nuclear.
Mawson Infrastructure Group Inc. (NASDAQ: MIGI)는 오하이오로의 확장을 발표하며 AI 및 HPC 성장 능력을 강화했습니다. 이 조치는 회사의 총 용량을 129 MW에서 약 153 MW로 증가시킬 것으로 예상됩니다. Mawson은 2033년 4월까지 9년 동안 연장된 임대 계약을 확보했으며, 초기 용량은 24 MW입니다.
이 확장은 Mawson의 PJM 시장에서의 입지를 더욱 확장합니다. JW CEO인 Rahul Mewawalla는 AI 및 HPC 운영을 위한 이 시장의 매력을 강조하며, 주요 기술 기업들도 이곳에서의 존재감을 확장하고 있다고 언급했습니다. Mawson은 협업 및 혁신을 위해 추가 AI 및 HPC 파트너를 초대하며, 원자력 에너지를 포함한 탄소 없는 에너지 접근 방식을 강조하고 있습니다.
Mawson Infrastructure Group Inc. (NASDAQ: MIGI) a annoncé son expansion dans l'Ohio, renforçant ses capacités de croissance en IA et HPC. Ce mouvement devrait augmenter la capacité totale de l'entreprise de 129 MW à environ 153 MW. Mawson a sécurisé un amendement de bail pour un terme prolongé de 9 ans jusqu'en avril 2033, avec une capacité initiale de 24 MW.
L'expansion augmente encore l'empreinte de Mawson sur le marché PJM, le plus grand marché de l'électricité en gros d'Amérique du Nord. Le PDG Rahul Mewawalla a souligné l'attractivité de ce marché pour les opérations d'IA et HPC, en notant que de grandes entreprises technologiques étendent également leur présence là-bas. Mawson invite de nouveaux partenaires en IA et HPC pour la collaboration et l'innovation, en mettant l'accent sur son approche énergétique sans carbone, y compris l'énergie nucléaire.
Mawson Infrastructure Group Inc. (NASDAQ: MIGI) hat seine Expansion nach Ohio angekündigt und damit seine Wachstumsfähigkeiten im Bereich KI und HPC gestärkt. Diese Maßnahme wird voraussichtlich die Gesamtkapazität des Unternehmens von 129 MW auf etwa 153 MW erhöhen. Mawson hat eine Mietvertragsänderung für einen verlängerten Zeitraum von 9 Jahren bis April 2033 gesichert, mit einer anfänglichen Kapazität von 24 MW.
Die Expansion erhöht weiter Mawsons Präsenz im PJM-Markt, dem größten Großhandelsstrommarkt in Nordamerika. CEO Rahul Mewawalla hob die Attraktivität dieses Marktes für KI- und HPC-Betriebe hervor und bemerkte, dass auch große Technologieunternehmen ihre Präsenz dort ausweiten. Mawson lädt weitere KI- und HPC-Partner zur Zusammenarbeit und Innovation ein und betont seinen Ansatz für CO2-freie Energie, einschließlich Kernenergie.
- Expansion into Ohio increases total capacity from 129 MW to 153 MW
- Secured 9-year lease extension through April 2033
- Expansion in PJM market, the largest wholesale electric market in North America
- Carbon-Free energy approach, including nuclear energy
- Potential for partnerships with AI and HPC colocation customers
- None.
Mawson's expansion into Ohio marks a strategic move in the rapidly growing AI and HPC infrastructure market. The addition of 24 MW capacity, potentially increasing their total to 153 MW, positions them to capitalize on the surging demand for high-performance computing resources. The PJM market, being the largest wholesale electric market in North America, offers competitive power rates important for energy-intensive AI operations.
The company's focus on carbon-free energy, including nuclear power, aligns with the increasing emphasis on sustainable AI infrastructure. This expansion, coupled with their invitation for AI/HPC partnerships, suggests Mawson is positioning itself as a key player in the AI infrastructure ecosystem, potentially competing with major cloud providers in the specialized AI computing space.
Mawson's Ohio expansion represents a significant growth opportunity. The 9-year lease extension through 2033 provides long-term operational stability. While specific financial figures aren't disclosed, the potential
Investors should note the strategic alignment with major tech players like Amazon, Microsoft and Google in the PJM market. This could indicate strong future demand for Mawson's services. However, the capital expenditure required for this expansion and its impact on short-term profitability should be closely monitored. The company's ability to secure AI/HPC partners will be important for realizing the full potential of this expansion.
Mawson's expansion aligns with the booming AI infrastructure market, projected to grow at a CAGR of over
The company's emphasis on carbon-free energy could be a significant differentiator, appealing to environmentally conscious AI firms. The invitation for AI/HPC partnerships suggests a B2B focus, potentially targeting mid-sized AI companies unable to build their own infrastructure. This strategy could help Mawson carve out a niche in a market dominated by cloud giants, but success will depend on their ability to offer competitive pricing and cutting-edge technology like NVIDIA GPUs.
To Bolster Long-Term AI/HPC Growth Capacities, Mawson Expands to Ohio
Expected to Increase Company's Total Capacity to 153 Megawatts upon Completion
Mawson Invites Additional AI and HPC Partners for Further AI Collaboration and Innovation
MIDLAND, Pa., Aug. 27, 2024 (GLOBE NEWSWIRE) -- Mawson Infrastructure Group Inc. (NASDAQ: MIGI) ("Mawson" or "the Company"), a publicly-traded technology company providing digital infrastructure to the AI, HPC and digital assets markets, and headquartered in the United States, today announced its expansion of its lease in Ohio, further extending its AI (artificial intelligence) and HPC (high-performance computing) growth capacities.
Mawson also invites additional AI/HPC partners, as it expects to further increase its total capacity from the currently operational 129 megawatts (“MW”) across its Pennsylvania facilities in Midland, PA and Bellefonte, PA, to about 153 MW, given its expansion to Ohio.
Rahul Mewawalla, CEO and President, stated, “Our expansion into Ohio further increases our footprint in the PJM market, the largest wholesale electric market in North America, and amongst the most attractive markets, in our view, for AI (artificial intelligence) and HPC (high-performance computing). We are also seeing companies such as Amazon Web Services, Microsoft, and Google expanding their operations in the PJM market, which speaks favourably to its future growth opportunities. Moreover, we are extremely proud of our Carbon-Free energy approach, including nuclear energy, as we continue to expand our digital infrastructure platforms to serve AI, HPC, and digital assets markets. We expect digital infrastructure for high-performance and accelerated computing to become increasingly valuable and we are excited about our expansion to Ohio, building upon our recent expansion in Pennsylvania which we successfully completed last quarter. We also look forward to our continuing to partner and collaborate with innovative AI and HPC colocation customers to power the future of AI.”
Key Highlights:
- Mawson’s expansion into Perry County, Ohio further increases its footprint in the PJM market, which is the largest wholesale electric market in North America and has competitive power rates and is a deregulated market.
- Secures lease amendment for an extended term for 9 years through April 2033.
- Secures initial 24 megawatts of capacity through agreements, which could grow Mawson from currently operational 129 MW to 153 MW.
- Expected to commence initial construction while inviting AI/HPC partners to discuss opportunities to partner and collaborate with Mawson to power the deployment of NVIDIA GPUs and other high performance and accelerated computing.
About Mawson Infrastructure
Mawson Infrastructure Group (NASDAQ: MIGI) is a technology company providing next-generation infrastructure platforms for AI, HPC, and digital assets. Our innovation, technology, and operational expertise enables us to operate and optimize digital infrastructure to accelerate the digital economy including artificial intelligence, high-performance computing solutions, and digital assets using a Carbon-Free energy approach.
For more information, visit: https://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 of 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 digital assets and cryptocurrencies, further or new regulation of digital assets, the evolution of AI and HPC market and changing technologies, the slower than expected growth in demand for AI, HPC and other accelerated computing technologies than expected, the ability to timely implement and execute on AI and HPC digital infrastructure, and the ability to timely complete the digital infrastructure build-out in order to achieve its revenue expectations for the periods mentioned. 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 SEC on April 1, 2024, and Mawson’s Quarterly Report on Form 10-Q filed with the SEC on August 21, 2023, November 13, 2023, May 15, 2024, August 19,2024, and in other filings Mawson has made and may make with the SEC in the future. One should not place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Mawson undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as may be required by law.
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