Mawson Infrastructure Group Inc. Announces Bitcoin Self-Mining Operating Above 1.0 Exahash Per Second (EH)

Rhea-AI Summary

Mawson Infrastructure Group (NASDAQ:MIGI) announced a significant advancement in its Bitcoin self-mining capabilities, currently operating above 1.0 EH and projecting to reach approximately 1.1 EH by the end of January 2022. This marks a 38% increase from the previous update, yielding about 5.8 Bitcoin per day. Expansion efforts at facilities in Georgia and Pennsylvania are underway, with Georgia achieving an additional 60MW of energy capacity for a total of 100MW. The company also anticipates producing 3.35 EH by Q2 2022, aiming for 5.0 EH by early Q1 2023.

Positive

• Operating above 1.0 EH with a projected increase to approximately 1.1 EH by January 2022.
• Production of about 5.8 Bitcoin per day.
• Expansion plans progressing well in Georgia and Pennsylvania.
• Additional 60MW energy capacity in Georgia facility.
• Total energy capacity expected to reach 220MW with a pipeline exceeding 1GW.

Negative

• None.

Bitcoin Self-Mining expansion on track for 3.35 EH by Q2 2022, 5.0 EH target early Q1 2023 reiterated

Georgia and Pennsylvania facility expansions on track

Monthly unaudited Bitcoin production and operational updates to begin in February 2022

SYDNEY & NEW YORK--(BUSINESS WIRE)-- Mawson Infrastructure Group Inc. (NASDAQ:MIGI) (“Mawson”), a digital infrastructure provider, is pleased to announce it is currently operating above 1.0 EH, and expects to be operating at approximately 1.1 EH by the end of January, +38% higher than the company’s November update, and producing approximately 5.8 Bitcoin per day.

Hash Rate Growth (Graphic: Business Wire)

The company’s expansion in Sandersville, Georgia is progressing rapidly, with an additional 60MW of energy now available, taking the facility to 100MW of capacity.

The company’s Midland, Pennsylvania facility phase 1 of 50MW is on track to be energized in Q1, 2022, with phase 2 on track to be energized in Q2, 2022, for a total of 100MW.

Mawson’s facilities and contracted power currently sit at 220MW, plus a pipeline of over 1GW of energy.

James Manning, CEO and Founder of Mawson, said, "Our operational expansion continues at pace, with both our Georgia and Pennsylvania facilities ramping up rapidly – this is a tremendous achievement from our team given the current bottle-necks in global supply chains. Our ‘Infrastructure First’ approach means we are able to continue to scale operations and strategically add Bitcoin miner ASIC’s when it makes sense to do so. Our energy pipeline continues to grow, and we look forward to updating stockholders on this front in due course.”

About Mawson Infrastructure

Mawson Infrastructure Group (NASDAQ: MIGI) is a digital infrastructure provider, with multiple operations throughout the USA and Australia. Mawson’s vertically integrated model is based on a long-term strategy to promote the global transition to the new digital economy. Mawson matches sustainable energy infrastructure with next-generation mobile data centre (MDC) solutions, enabling low-cost Bitcoin production and on-demand deployment of infrastructure assets. With a strong focus on shareholder returns and an aligned board and management, Mawson Infrastructure Group is emerging as a global leader in ESG focused Bitcoin mining and digital infrastructure.

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 SEC on March 1, 2021 and Mawson’s Quarterly Report on Form 10-Q filed with the SEC on November 15, 2021, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220118005773/en/

Investor Contact:

Brett Maas

646-536-7331

brett@haydenir.com

www.haydenir.com

Source: Mawson Infrastructure Group Inc.

FAQ

What is Mawson Infrastructure Group's current Bitcoin production rate?

Mawson is currently producing approximately 5.8 Bitcoin per day.

What are Mawson Infrastructure Group's Bitcoin self-mining targets?

Mawson aims for 3.35 EH by Q2 2022 and 5.0 EH by early Q1 2023.

What progress has been made in Mawson's facility expansions?

Facility expansions in Georgia and Pennsylvania are on track, with Georgia achieving an additional 60MW of capacity.

How much energy capacity does Mawson have currently?

Mawson currently has a total energy capacity of 220MW, with plans for further expansion.