Mawson Infrastructure Group Inc. Expands Midland Facility to 120 MW
Mawson Infrastructure Group (NASDAQ:MIGI) has extended its lease for the Midland, PA facility, allowing for an additional 20 MW of power capacity. This brings the total capacity at the site to 120 MW, expected to be fully operational by early Q2 2023. The company plans to deploy 10 Modular Data Centers and 5,880 ASIC miners to utilize this capacity, anticipated to generate up to 16.9 BTC per day, translating to approximately $154 million in annual revenue. Mawson is also developing another facility in Sharon, PA, which will add to a combined capacity of 240 MW once completed.
- Lease extension increases capacity from 100 MW to 120 MW in Midland, PA.
- Expected annual revenue of approximately $154 million from the added capacity.
- Plans to deploy 10 Modular Data Centers and 5,880 ASIC miners are fully funded.
- None.
Mawson Signs an Extension of Current Lease to Include Additional 20 MW, Increasing Capacity at the
Total of 120 MW to be Online Early Q2, 2023
Construction underway at the
Mawson is deploying an additional 10 Modular Data Centers and 5,880 ASIC miners needed to fill the capacity. All of the Company’s mining units are fully funded and currently being installed at the
Mawson is currently developing another 120 MW facility in
Mawson expects to have 132 MW online in early Q2, 2023 representing enough power for up to 38,808 ASIC miners, operating at approximately 4.2 EH/second2. This capacity expansion could potentially generate up to approximately 16.9 BTC per day, or approximately
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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
1 At the current Bitcoin price, block reward rate and network difficulty, assuming those miners are online with
2 Statements about ASIC miner capacity and Exahash forecasts 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.
3 At the current Bitcoin price, block reward rate and network difficulty, assuming those miners are online with
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