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Mawson Infrastructure Group Inc. Announces Community Engagement Program in Beaver County, Pennsylvania, USA
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Mawson Infrastructure Group (NASDAQ:MIGI) has inaugurated a 100 Megawatt Bitcoin mining facility in Beaver County, Pennsylvania, aimed at enhancing local energy resources. The initiative includes community support efforts alongside a partnership with Voltus to supply energy to the PJM Interconnection grid. CEO James Manning emphasized the company's commitment to being a good corporate citizen. The Pennsylvania Department of Community and Economic Development welcomed Mawson's contributions to the community and job creation. Mawson aims to leverage sustainable practices in its digital infrastructure business.
Positive
Inauguration of a 100 Megawatt Bitcoin mining facility in Beaver County, enhancing local energy supply.
Commitment to supporting community institutions like Community College Beaver County and Heritage Valley Health System.
Partnership with Voltus for delivering energy back into the PJM Interconnection grid.
Negative
Potential risks associated with Bitcoin mining, including regulatory changes and cryptocurrency price volatility.
Mawson to energize 100 Megawatt Bitcoin mining facility in Beaver County, Pennsylvania in March 2022
SYDNEY & NEW YORK--(BUSINESS WIRE)--
Mawson Infrastructure Group Inc. (NASDAQ:MIGI) (“Mawson”), a digital infrastructure provider, announces its community engagement program in Beaver County, Pennsylvania, USA.
Mawson team members and local members of the Community College Beaver County, the Lincoln Park Performing Arts Centre, Beaver Falls Park and the Heritage Valley Health System. (Photo: Business Wire)
Mawson last week formally opened its second Bitcoin mining facility in the USA, at a former industrial site in Beaver County, Pennsylvania, and has been working with the Pennsylvania Department of Community and Economic Development to determine the areas of greatest need in the local community. To that end, in 2022 Mawson is pleased to support the Community College Beaver County, the Lincoln Park Performing Arts Centre, Beaver Falls Park, the Heritage Valley Health System and Buhl Park.
James Manning, CEO and Founder of Mawson, said, "Being a good corporate citizen in the communities in which we operate is hugely important at Mawson. The support programs announced today tie in with our partnership with Voltus announced last week, whereby we have committed to delivering up to 100MW of energy back into the PJM Interconnection as a grid balancing resource. Ultimately it is the local communities that we operate in that support us and giving back in this way is a small gesture of our gratitude.”
David Briel, Executive Director, Office of International Business Development, Pennsylvania Department of Community and Economic Development, said, “The Wolf administration is pleased to welcome Mawson Infrastructure to Pennsylvania. Between the jobs they are creating and the contributions to the community they are making, Mawson Infrastructure promises to be a great addition to the commonwealth.”
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.
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.
What is the significance of Mawson Infrastructure's new facility in Beaver County?
Mawson Infrastructure's new 100 Megawatt facility in Beaver County aims to enhance energy supply and promote community engagement.
How much energy is Mawson Infrastructure planning to deliver back to the grid?
Mawson Infrastructure plans to deliver up to 100 Megawatts of energy back to the PJM Interconnection as part of its community engagement efforts.
What community support initiatives is Mawson involved in?
Mawson is supporting local institutions, including Community College Beaver County and Heritage Valley Health System, as part of its community engagement program.
What are the risks associated with Mawson Infrastructure's Bitcoin mining operations?
Mawson faces risks such as regulatory changes, market volatility in cryptocurrency prices, and the need for additional capital.
