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Mawson Infrastructure Group Inc. Announces Expansion of Sandersville, Georgia, USA, Bitcoin Mining Facility to 230 Megawatts
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Mawson Infrastructure Group (NASDAQ:MIGI) announces an expansion of its Sandersville, Georgia Bitcoin mining facility from 80 to 230 Megawatts (MW), enabling up to 7.5 Exahash (EH) capacity. This decision follows successful infrastructure studies and reflects a growing partnership with local authorities. The facility aims to be operational by Q3 2023, utilizing predominantly nuclear and hydro energy. Mawson is committed to sustainability through Carbon and Renewable Energy Credits to achieve its Net Zero goals.
Positive
Expansion of mining capacity to 230 MW enhances potential output to 7.5 EH.
Operational by Q3 2023, improving revenue potential.
Utilization of sustainable energy sources aligns with ESG commitments.
Negative
None.
Sandersville, Georgia Bitcoin Mining Facility to be expanded by 150 Megawatts, expected to be capable of accommodating up to 7.5 Exahash (EH) of ASIC Bitcoin mining hardware
SYDNEY & NEW YORK--(BUSINESS WIRE)--
Mawson Infrastructure Group Inc. (NASDAQ:MIGI) (“Mawson”), a digital infrastructure provider, is pleased to announce the expansion of its Sandersville, Georgia, USA Bitcoin Mining facility to 230 Megawatts (MW).
Following on from successful electrical load and associated infrastructure studies carried out by the Municipal Electrical Authority of Georgia (MEAG), Electrical Cities of Georgia (ECG), the Washington County Economic Development Authority, City of Sandersville and Mawson, the site has been approved for expansion.
Mawson has an existing 26-year lease at the Sandersville, Georgia site, with the option to buy the approximately 16-acre property.
Mawson intends to deploy its Modular Data Centre (MDC) technology at the expanded facility. The facility is expected to become fully operational with the additional 150 MW online in Q3, 2023. Based on utilization of the latest generation Bitcoin mining ASIC hardware, this expansion to the facility could accommodate up to 7.5 Exahash (EH) of operational capacity.
The Sandersville, Georgia, USA facility utilizes predominately nuclear and hydro energy sources, and Mawson intends to use both Carbon Credits and Renewable Energy Credits (REC’s), in addition to its ongoing sustainability program, at this site to ensure our Net Zero goal and strong ESG focus is maintained.
James Manning, CEO and Founder of Mawson, said, "We are delighted to be moving forward with what will be one of our largest Bitcoin Mining facilities in North America. Our relationship with MEAG, ECG, the Washington County Economic Development Authority and the City of Sandersville continues to strengthen, and we look forward to expanding this facility to 230 megawatts. In an environment where large scale, high-quality, low-cost Bitcoin Mining facilities are in short supply, we are genuinely excited for site development works at our Georgia Stage 3 expansion to begin later this year.”
Judy McCorkle, Administrator of the City of Sandersville, Georgia, said, “The City of Sandersville has enjoyed working with the Mawson team since early 2020, and we are looking forward to working closely with MEAG, ECG and the Washington County Economic Development Authority on the expansion of this site. Mawson’s commitment and support of the local community has been fantastic, and the council supports their expansion and applauds their community first approach. We look forward to the benefits Mawson’s expansion will bring the community across job growth and financial stability for the city.”
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.
