Mawson Infrastructure Group Inc. Relocating 5,376 ASIC Miners to Pennsylvania Sites
Mawson Infrastructure Group (NASDAQ:MIGI) has closed its Condong, Australia facility to focus solely on U.S. operations. All ASIC miners and Mobile Data Centers (MDCs) are being relocated to Pennsylvania for deployment in Q2 2023. The company is concentrating on its Midland (100 MW) and Sharon (120 MW) facilities, with a total of 112 MW expected to be operational soon, which will support up to 33,000 ASIC miners. This expansion is projected to generate approximately 14.5 BTC daily, potentially translating to around $132 million in annual revenue at current Bitcoin prices.
- Closure of the Australian facility to streamline operations in the U.S.
- Deployment of 5,376 ASIC miners and 8 MDCs, enhancing operational capacity.
- Projected 14.5 BTC production daily translates to approx. $132 million annual revenue.
- None.
Closes Australian ‘Condong’ Site and redeploying 8 x 2.5
Strategic decision to focus entirely on
All equipment is fully funded and in transit to PA for projected Q2 deployment
Construction underway at the
All equipment is expected to be deployed in Q2, which includes 5,376 ASIC miners, and eight (8) new generation MDCs which are capable of holding 672 ASIC miners each, or 5,376 ASIC miners in total.
Mawson is concentrating all current efforts on the 120 MW
Mawson expects to have 112 MW online in early Q2, 2023 representing enough power for up to 33,000 ASIC miners, operating at approximately 3.6 EH/second1. This capacity expansion could potentially generate up to approximately 14.5 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 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.
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