Mawson Infrastructure Group Inc. Announces Energy Demand Response Program Participation and Market Update
Mawson Infrastructure Group (NASDAQ:MIGI) is actively participating in energy demand response programs, generating revenue while reducing operating costs. The company has received the final shipment of ASIC Bitcoin miners and will not incur further payments for deliveries. Mawson's hosting co-location services with Celsius Mining LLC continue to perform well. In light of current market volatility, Mawson has chosen to defer major capital expenditures until conditions improve, while consistently selling self-mined Bitcoin.
- Participating in energy demand response programs, generating revenue and reducing costs.
- Successful final shipment of ASIC Bitcoin Miners received with no further payments due.
- Co-location services are performing as expected with major customer, Celsius Mining LLC.
- Deferring major capital expenditures due to current market volatility.
Mawson is actively participating in energy demand response programs across its operations, receiving revenue as a result and reducing operating costs
Final ASIC Bitcoin Miner shipments have been received, no further payments due for ASIC Bitcoin Miner deliveries
Mawson’s Hosting Co-location deployment and agreements with
Mawson to defer all major forward capital expenditure until market conditions normalize
Mawson continues to sell its Self-Mined Bitcoin daily, as it has done since inception
In response to volatile energy markets Mawson is actively engaging in energy demand response programs at its operations. These energy demand response programs, which are primarily managed via both Mawson’s team and energy demand response partner
Mawson has now received the final shipment of Canaan A1246 ASIC Bitcoin Miners in June, and as a result has no further payments due for Bitcoin Miner deliveries and intends to continue to deploy these final shipments to increase its Self-Mining hash rate over the coming months. Mawson has also taken the decision to defer all major forward capital expenditure until market conditions normalize.
Mawson continues to provide Hosting Co-location services, including its agreement with
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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
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Investor Contact:
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FAQ
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