Mawson Infrastructure Group Inc. Announces July 2022 Bitcoin Self-Mining, Hosting Co-location, Energy Demand Response and Operational Update
Mawson Infrastructure Group (NASDAQ:MIGI) reported an operational capacity of 3.5 Exahash by the end of July, projected to increase to 3.7 Exahash by the end of August 2022. In July, the company produced 90 Self-Mined Bitcoin and estimated revenue of $1.8M from its Energy Demand Response Program. Cumulatively, 1039 Self-Mined Bitcoin have been produced year-to-date in FY 2022. Mawson operates approximately 44,000 ASIC Bitcoin Miners across its facilities.
- Estimated revenue from Energy Demand Response Program of $1.8M in July 2022.
- Production of 90 Self-Mined Bitcoin in July 2022.
- Operational capacity projected to rise to 3.7 Exahash by end of August 2022.
- Overall operation expected to reach 5.3 Exahash by Q4 2022.
- Participation in the Energy Demand Response Program resulted in lower Bitcoin production.
- July average hash rate of only 0.7 Exahash, below installed capacity of 1.7 Exahash.
Mawson Self-Mining and Hosting Co-location installed operational capacity at 3.5 Exahash as at the end of July, expected to rise to approximately 3.7 Exahash by end
Mawson produced 90 Self-Mined Bitcoin in
Mawson now has approximately 44,000 ASIC Bitcoin Miners deployed at its facilities across its Self-Mining and Hosting Co-location businesses
Approximately 1039 Self-Mined Bitcoin produced in FY 2022 year to date
Aerial view of
Mawson Self-Mining and Hosting Co-location installed operational capacity at approximately 3.5 Exahash as at end of July, expected to rise to approximately 3.7 Exahash by end of
Bitcoin Self-Mining Update:
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In
July Mawson produced 90 Bitcoin, as the company participated in its Energy Demand Response (“EDR”) Program, resulting in lower Bitcoin production as a result of participation in the energy curtailment program -
The EDR program generated an estimated
in unaudited revenue.$1.8M is equal to approximately 84 Bitcoin (assuming the July average Bitcoin price of$1.8M )$21,539 - Mawson’s participation in its EDR program generated revenue, and in addition lowered overall costs of production
- July average hash rate at approximately 0.7 Exahash, with an installed operational capacity of 1.7 Exahash
- Mawson Self-Mining delivered and fully paid for operational capacity at approximately 2.3 Exahash, anticipated to be online in Q4, 20221
Hosting Co-location Update:
- Mawson Hosting Co-location installed capacity at 1.8 Exahash (equating to approximately 54 megawatts) as at end of July
- Hosting Co-location expected to rise to approximately 2.0 Exahash (64 megawatts) as at the end of August, as Mawson continues deployment
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Hosting Co-location continues to be a profitable business, with major hosting customer
Celsius Mining LLC making a payment for July Hosting Co-location services in August as anticipated - Mawson will continue its focus on Hosting Co-location services, as it provides an additional revenue stream for the company, paid in USD, in addition to Mawson’s Bitcoin Self-Mining revenue and Energy Demand Response Revenue.
Energy Demand Response:
- In response to movements in energy markets Mawson is actively engaging in Energy Demand Response Program at its operations, which involve curtailed uptime in exchange for energy demand response revenue and avoided energy costs. When energy prices are low, Mawson engages in Bitcoin Mining and generates revenue by selling Self-Mined Bitcoin daily, as it has from inception. When energy prices are high, and where available, Mawson engages in Energy Demand Response Programs, receiving revenue and reducing overall energy costs.
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In the month of July, Mawson generated unaudited revenue of approximately
from these activities.$1.8M is equal to approximately 84 Bitcoin (assuming the July average Bitcoin price of$1.8M ).$21,539
Operational Update:
In
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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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1,2 Assumes all equipment deployed and
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