Mawson Infrastructure Group Inc. Breaks Ground on Sharon, PA 120 MW Bitcoin Mining Facility
Mawson Infrastructure Group (NASDAQ:MIGI) has initiated construction on a new 120 MW Bitcoin mining facility in Sharon, PA. The first 12 MW is expected to go live in early Q2 2023, with additional capacity launching incrementally through 2023 and early 2024. The facility is designed to accommodate up to 35,280 ASIC miners, potentially generating 4.2 EH/s. Furthermore, Mawson’s operations will include self-mining and hosting services, participating in an Energy Markets Program for revenue generation during grid stress periods. Completion of this facility will boost Mawson's total capacity to 220 MW.
- New 120 MW Bitcoin mining facility will enhance growth prospects.
- First 12 MW expected to be operational in early Q2 2023.
- Potential capacity for 35,280 ASIC miners, yielding 4.2 EH/s.
- Participation in an Energy Markets Program for additional revenue.
- None.
Mawson has broken ground on the 120 MW Bitcoin mining facility in
Aerial view of
The first stage of 12 MW is scheduled to be energized in early Q2, 2023. The balance of the 120 MW capacity will come online incrementally through 2023 and early 2024.
Mawson plans for the
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The successful completion of the
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For more information, visit: www.mawsoninc.com
Statements about hashrate capacity
Statements in the press release about hashrate capacity (including ‘installed capacity’ or ‘nameplate’ capacity), will often differ from the actual or observed hashrates. Hashrate capacity generally makes certain assumptions about the efficiency of the ASIC miners that are in use. Some ASIC miner models will consume less power to create the same amount of hashing power than other ASIC miner models (typically more recent models are more efficient). Many ASIC miner fleets are blended fleets, including various ASIC miner models each with different efficiency ratings. Hashrate capacity figures typically assume
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 Statements about ASIC miner capacity in this document are not an assurance that Mawson will have that many ASIC miners available to deploy (whether self-mining or hosted units). Mawson’s ability to deploy units will depend on many factors such as Mawson’s future ASIC miner purchases and sales, our ability to attract future hosting customers, and the number of ASIC miners customers have to deploy.
2 Statements about exahash capacity in this document assume a combined fleet (of self-mining and hosted units) deployed over the relevant sites having an industry-leading average of 120TH per machine. This may not be achieved, and will depend on many factors such as Mawson’s future ASIC miner purchases and sales, our ability to attract future hosting customers, and the hosting customers’ ASIC miner specifications. To the extent that any of the ASIC miners operate at less than 120TH, then this will reduce the hash rate actually achieved.
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