Mawson Infrastructure Group Inc. Announces February 2022 Bitcoin Self-Mining, Hosting Co-location and Operational Update
Mawson Infrastructure Group (NASDAQ:MIGI) reported a record production of 152 Bitcoin in February 2022, a 300% increase compared to February 2021. Self-mining operations operated at approximately 1.3 Exahash by month-end, reflecting a 550% increase year-over-year. Mawson anticipates reaching 1.5 Exahash by March, generating about 6.8 Bitcoin daily. New hosting contracts with Celsius Mining LLC and Foundry Digital LLC add 112 megawatts. The Sandersville facility expansion to 230 megawatts is underway, indicating significant growth in capacity.
- Record production of 152 Bitcoin in February 2022, up 300% YoY.
- Self-mining hash rate increased to 1.3 Exahash, expected to reach 1.5 Exahash by March.
- New 112 megawatt hosting contracts with Celsius Mining LLC and Foundry Digital LLC.
- Expansion of Georgia facility to 230 megawatts approved, enhancing production capabilities.
- None.
Mawson produced record 152 Bitcoin in February, +
Self-Mining operating at approximately 1.3 Exahash end of February, +
Self-Mining expected to be operating at approximately 1.5 Exahash end of March, producing approximately 6.8 Bitcoin per day1
Mawson Hosting Co-location customers at 4 megawatts online end of February, in early March new customer agreements signed with
In early March,
292 Bitcoin produced in FY 2022 to end of February
Record Hash Rate Growth (Graphic: Business Wire)
Bitcoin Self-Mining Update:
-
In February Mawson produced 152 Bitcoin, +
8.5% vsJanuary 2022 -
February average hash rate at approximately 1.15 Exahash, +
28% vsJanuary 2022 -
February end of month hash rate at approximately 1.3 Exahash, +
18% vsJanuary 2022 - March end of month hash rate expected to be 1.5 Exahash, producing approximately 6.8 bitcoin per day1
Hosting Co-location Update:
- 4 megawatts of hosting customers online in February
-
In early March new 100 megawatt hosting co-location agreement signed with
Celsius Mining LLC , first deployment at Mawson’s hosting facilities expected in late Q1, 2022 -
In early March new 12 megawatt hosting co-location agreement signed with
Foundry Digital LLC , first deployment at Mawson’s hosting facilities expected in late Q1, 2022
Operational Update:
In February Mawson continued to build and expand its existing and new facilities in the
Australian facility: weather related issues has meant operational ramp up now expected to occur throughout Q2, with the facility fully operational by
Expected Hash Rate Growth:
Mawson expects Bitcoin Self-Mining to be at 3.35 EH by Q2, 2022, and target of 5 EH online by early Q1 2023 reiterated.
About
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 Quarterly Report on Form 10-Q filed with the
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1 Bitcoin produced per day is based on network difficulty as at
View source version on businesswire.com: https://www.businesswire.com/news/home/20220315005839/en/
Investor Contact:
646-536-7331
brett@haydenir.com
www.haydenir.com
Source:
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