Mawson Infrastructure Group Inc. Executes New Customer Agreement with Canaan Inc., Growing and Expanding Digital Colocation Business with Latest-Gen ASICs
Mawson Infrastructure Group (NASDAQ: MIGI) has signed a significant 3-year digital colocation customer agreement with Canaan Inc. (NASDAQ: CAN) on March 21, 2025. The agreement involves hosting approximately 17,453 latest-generation ASICs at Mawson's facilities, utilizing about 64 MW of compute capacity.
This partnership follows Mawson's recent announcement of 136% year-on-year growth in digital colocation business revenue. Upon completion of this deployment, Mawson expects to operate approximately 5.51 exahash per second (EH/s) in combined total operating hashrate across its facilities.
The company currently operates 129 MW across its facilities and has an additional site under development in Ohio, which will add 24 MW, bringing the total operating capacity to 153 MW upon completion. The agreement includes provisions for future capacity expansion in the PJM market, one of North America's largest competitive wholesale energy markets.
Mawson Infrastructure Group (NASDAQ: MIGI) ha firmato un importante accordo di colocation digitale della durata di 3 anni con Canaan Inc. (NASDAQ: CAN) il 21 marzo 2025. L'accordo prevede l'hosting di circa 17.453 ASIC di ultima generazione presso le strutture di Mawson, utilizzando circa 64 MW di capacità di calcolo.
Questa partnership segue l'annuncio recente di Mawson riguardo a una crescita del 136% anno su anno nel fatturato del business di colocation digitale. Al termine di questa implementazione, Mawson prevede di operare circa 5,51 exahash al secondo (EH/s) in totale di hashrate operativo combinato presso le sue strutture.
L'azienda attualmente opera con 129 MW nelle sue strutture e ha un ulteriore sito in fase di sviluppo in Ohio, che aggiungerà 24 MW, portando la capacità operativa totale a 153 MW al termine dei lavori. L'accordo include disposizioni per l'espansione della capacità futura nel mercato PJM, uno dei più grandi mercati energetici all'ingrosso competitivi del Nord America.
Mawson Infrastructure Group (NASDAQ: MIGI) ha firmado un importante acuerdo de colocación digital de 3 años con Canaan Inc. (NASDAQ: CAN) el 21 de marzo de 2025. El acuerdo implica el alojamiento de aproximadamente 17,453 ASIC de última generación en las instalaciones de Mawson, utilizando alrededor de 64 MW de capacidad de computación.
Esta asociación sigue al reciente anuncio de Mawson sobre un crecimiento del 136% año tras año en los ingresos del negocio de colocación digital. Al finalizar este despliegue, Mawson espera operar aproximadamente 5.51 exahash por segundo (EH/s) en total de hashrate operativo combinado en sus instalaciones.
La empresa actualmente opera 129 MW en sus instalaciones y tiene un sitio adicional en desarrollo en Ohio, que añadirá 24 MW, llevando la capacidad operativa total a 153 MW una vez completado. El acuerdo incluye disposiciones para la expansión de capacidad futura en el mercado PJM, uno de los mayores mercados de energía mayorista competitivos de América del Norte.
마우슨 인프라스트럭처 그룹 (NASDAQ: MIGI)는 2025년 3월 21일 카나안 Inc. (NASDAQ: CAN)과 3년간의 디지털 콜로케이션 고객 계약을 체결했습니다. 이 계약은 마우슨의 시설에서 약 17,453개의 최신 세대 ASIC을 호스팅하며, 약 64MW의 컴퓨팅 용량을 활용합니다.
이번 파트너십은 마우슨이 디지털 콜로케이션 비즈니스 수익에서 연간 136% 성장 발표한 이후 이루어졌습니다. 이 배치가 완료되면 마우슨은 시설 전반에서 총 운영 해시레이트가 약 5.51 엑사해시( EH/s)에 이를 것으로 예상하고 있습니다.
현재 회사는 시설에서 129MW를 운영하고 있으며, 오하이오에서 추가 사이트가 개발 중으로, 24MW를 추가하여 완료 시 총 운영 용량을 153MW로 늘릴 계획입니다. 이 계약은 북미에서 가장 큰 경쟁적 도매 에너지 시장 중 하나인 PJM 시장에서의 미래 용량 확장을 위한 조항을 포함하고 있습니다.
Mawson Infrastructure Group (NASDAQ: MIGI) a signé un accord important de colocation numérique de 3 ans avec Canaan Inc. (NASDAQ: CAN) le 21 mars 2025. L'accord implique l'hébergement d'environ 17 453 ASIC de dernière génération dans les installations de Mawson, utilisant environ 64 MW de capacité de calcul.
Ce partenariat fait suite à l'annonce récente de Mawson concernant une croissance de 136 % d'une année sur l'autre des revenus de son activité de colocation numérique. À l'issue de ce déploiement, Mawson s'attend à fonctionner à environ 5,51 exahash par seconde (EH/s) en hashrate total combiné dans ses installations.
L'entreprise exploite actuellement 129 MW dans ses installations et a un site supplémentaire en développement dans l'Ohio, qui ajoutera 24 MW, portant la capacité totale à 153 MW une fois terminé. L'accord comprend des dispositions pour l'expansion future de la capacité sur le marché PJM, l'un des plus grands marchés de l'énergie de gros compétitifs en Amérique du Nord.
Mawson Infrastructure Group (NASDAQ: MIGI) hat am 21. März 2025 einen bedeutenden 3-jährigen Vertrag über digitale Colocation mit Canaan Inc. (NASDAQ: CAN) unterzeichnet. Der Vertrag umfasst das Hosting von etwa 17.453 neuesten ASICs in den Einrichtungen von Mawson und nutzt etwa 64 MW Rechenleistung.
Diese Partnerschaft folgt auf die kürzliche Ankündigung von Mawson über ein Wachstum von 136 % im Jahresvergleich im Umsatz des digitalen Colocation-Geschäfts. Nach Abschluss dieser Bereitstellung erwartet Mawson, etwa 5,51 Exahash pro Sekunde (EH/s) an kombiniertem Gesamtbetrieb Hashrate in seinen Einrichtungen zu betreiben.
Das Unternehmen betreibt derzeit 129 MW in seinen Einrichtungen und hat einen zusätzlichen Standort in Ohio in Entwicklung, der 24 MW hinzufügen wird, wodurch die gesamte Betriebsleistung nach Fertigstellung auf 153 MW erhöht wird. Der Vertrag enthält Bestimmungen für zukünftige Kapazitätserweiterungen im PJM-Markt, einem der größten wettbewerbsorientierten Großhandelsenergiemärkte Nordamerikas.
- Secured 3-year colocation agreement for 17,453 latest-generation ASICs
- Digital colocation business revenue grew 136% year-on-year
- Expected to operate 5.51 EH/s in total hashrate after deployment
- Expanding capacity from 129 MW to 153 MW with new Ohio facility
- None.
Insights
Mawson Infrastructure Group has secured a major colocation agreement with Canaan Inc. that substantially expands its digital infrastructure business. The 3-year contract involves hosting approximately 17,453 latest-generation ASICs, representing about 64 MW of compute capacity - equivalent to nearly 50% of Mawson's current 129 MW operational footprint.
This deal is particularly significant given Mawson's micro-cap status (
The agreement builds on Mawson's already impressive
The partnership structure leverages complementary strengths - Mawson's infrastructure optimization capabilities paired with Canaan's hardware innovation. Beyond this deal, Mawson continues its expansion with an additional site in Ohio under development, which will add 24 MW to grow total capacity to 153 MW.
For a company of Mawson's size, securing an enterprise-grade customer like Canaan (itself a NASDAQ-listed technology provider) represents a material business validation that could significantly enhance their financial profile and market position.
MIDLAND, Pa., March 26, 2025 (GLOBE NEWSWIRE) -- Mawson Infrastructure Group Inc. (NASDAQ: MIGI) (“Mawson” or “the Company”), a publicly-traded technology company focused on digital infrastructure platforms for artificial intelligence (AI), high-performance computing (HPC), and digital assets markets, today announced that it has signed a significant new digital colocation customer agreement with Canaan Inc., a NASDAQ-listed publicly traded company (NASDAQ: CAN), further growing and expanding its digital colocation business with latest-generation application-specific integrated circuit machines (ASICs).
The new customer colocation agreement executed between Mawson’s President and CEO Rahul Mewawalla and Canaan’s Chairman and CEO Nangeng Zhang on March 21, 2025 is for Mawson to provide Canaan with digital colocation services for about 17,453 latest-generation ASICs at Mawson’s facilities. The initial agreement term is for 3 years and the parties can extend upon mutual agreement. The contract also provides for future potential capacity expansion.
Rahul Mewawalla, Mawson CEO and President, stated, “We recently announced that we grew our digital colocation business revenue
Nangeng Zhang, Chairman and Chief Executive Officer of Canaan, commented, “This agreement between Canaan and Mawson combines Mawson's digital infrastructure and operational excellence with Canaan’s next-generation mining hardware to create an innovative, scalable foundation that provides the flexibility for additional opportunities. Together, we're building a partnership that we believe will drive value and create opportunities for sustainable growth for both companies.”
The executed customer agreement, entered into by wholly owned subsidiaries of Canaan Inc. and Mawson Infrastructure Group Inc., is for approximately 64 MW of compute capacity at Mawson’s facilities. This further strengthens Mawson’s position as a leading industry provider of digital infrastructure and digital colocation services in the attractive PJM market, one of North America’s largest competitive and deregulated wholesale energy markets.
Upon completion of this deployment, Mawson expects to operate and manage approximately 5.51 exahash per second (EH/s) in combined total current operating hashrate across its facilities.
Mawson also has an additional site in Ohio under development which is expected to add an initial 24 MW to the Company’s currently operating 129 MW across its facilities, growing the Company’s total operating capacity to 153 MW upon completion, potentially further expanding the total hashrate.
About Mawson Infrastructure Inc.
Mawson Infrastructure Group (NASDAQ: MIGI) is a technology company that offers digital infrastructure platforms for artificial intelligence (AI), high-performance computing (HPC) and digital assets. The Company’s digital infrastructure platforms can be used to operate computing resources for a number of applications, and are offered across artificial intelligence (AI), high-performance computing (HPC), digital assets, and other computing applications. Our innovation, technology, and operational expertise enables us to operate and optimize digital infrastructure to accelerate the digital economy. The Company has a strategy to prioritize the usage of carbon-free energy sources, including nuclear energy, to power its digital infrastructure platforms and computational machines.
Company’s media interviews and videos are available at www.mawsoninc.com/video-interviews. Articles and recent news related to the Company are available at www.mawsoninc.com/articles.
For more information, visit: https://www.mawsoninc.com
About Canaan Inc.
Canaan Inc. (NASDAQ: CAN) is a technology company established in 2013 focusing on ASIC high-performance computing chip design, chip research and development, computing equipment production, and software services. Canaan has extensive experience in chip design and streamlined production in the ASIC field. Canaan completed its initial public offering on the Nasdaq Global Market in 2019.
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 of 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 digital assets and cryptocurrencies, further or new regulation of digital assets, cryptocurrencies and AI, the evolution of AI and HPC market and changing technologies, the slower than expected growth in demand for AI, HPC and other accelerated computing technologies than expected, the ability to timely implement and execute on AI and HPC digital infrastructure, and the ability to timely complete the digital infrastructure build-out in order to achieve its revenue expectations for the periods mentioned. 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 April 1, 2024, and Mawson’s Quarterly Reports on Form 10-Q filed with the SEC on May 15, 2024, August 19, 2024, November 14, 2024, 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.
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