Mawson Infrastructure Group Inc. - MIGI STOCK NEWS

Mawson Infrastructure Group Inc. (NASDAQ: MIGI) has entered the AI and HPC markets with a significant colocation agreement. The company signed a 6-year contract for 20 MW of digital infrastructure services with BE Global Development , potentially generating $285 million in cumulative revenue. The initial deployment is expected in Q1 2025, with $92 million potential revenue in the first two years.

Additionally, Mawson signed a non-binding LOI to expand the AI/HPC colocation business to 144 MW, potentially increasing capacity by 6x. This move positions Mawson as a competitive provider in the AI and HPC infrastructure market, which is projected to grow to over $200 billion by 2030. The expansion is expected to enhance Mawson's earnings power and create a powerful digital infrastructure platform across AI, HPC, and digital assets.

Mawson Infrastructure Group Inc. (NASDAQ: MIGI), a publicly traded digital infrastructure company, has announced its participation in the 2024 Annual Gateway Conference in San Francisco, CA. The event is scheduled for September 4-5, 2024.

Key points:

• CEO and President Rahul Mewawalla will present on September 5th at 10:00 a.m. PT / 1:00 p.m. ET
• The conference will feature over 100 invite-only companies from various sectors
• Sectors represented include technology, cleantech, consumer, industrials, and financial services
• The event aims to connect growth companies with investors, analysts, and capital markets constituents

For additional information, interested parties can email IR@mawsoninc.com or visit the conference website at https://www.gateway-grp.com/conference.

Mawson Infrastructure Group Inc. (NASDAQ: MIGI) reported strong growth in its June 2024 operational update. The company's digital colocation business revenue increased 56% year-over-year to $2.48 million, while energy management revenue surged 262% year-over-year to $0.74 million. Mawson completed a 20 MW facility expansion, increasing total capacity to 129 MW and 41,530 miners.

The company also expanded its digital computation expertise by executing a colocation agreement for about 5,880 IceRiver KAS KS3M miners to mine Kaspa (KAS), the fifth-largest proof-of-work digital asset by market cap. This move allows Mawson to broaden its expertise across various digital assets and high-performance computing solutions.

Overall monthly revenue reached approximately $3.81 million, equivalent to about 58 BTC. The company's CEO, Rahul Mewawalla, expressed excitement about accelerating innovation across the broader ecosystem and advancing next-gen compute resources.

Mawson Infrastructure Group Inc. (NASDAQ: MIGI) has announced several strategic new hires to drive growth initiatives and expand capabilities across AI, HPC, and third-party managed sites. The company aims to enhance its digital infrastructure to meet the growing demand for compute resources. Key appointments include:

- Max Franklin as Director of Strategic Partnerships and Sales
- Annie Bass as Director of Finance
- Adam Yaeger as Senior Corporate Counsel
- Stephanie Massingill as Director of Finance
- Jonathan Sites as Director of Human Resources

These hires bring expertise from various industries and are expected to strengthen Mawson's position in the digital infrastructure sector. CEO Rahul Mewawalla emphasized the company's focus on transformation and growth in response to the increasing value of digital infrastructure for computing capabilities.

Mawson Infrastructure Group has completed its planned expansion at the Midland, Pennsylvania digital infrastructure and bitcoin mining facility. The site, now one of the largest in the PJM market, has increased its capacity by 20% to approximately 120 MW, supporting around 38,810 ASIC miners. This expansion brings Mawson’s total operational capacity to about 129 MW with a capacity for 41,530 miners, including its Bellefonte facility. CEO Rahul Mewawalla highlighted the strategic importance of the greater Pittsburgh area for digital infrastructure, emphasizing the benefits of the expansion for Mawson’s growth and innovation in digital assets, AI, and high-performance computing.

Mawson Infrastructure Group (NASDAQ:MIGI) reported a significant operational update for May 2024. The digital infrastructure company spotlighted an 85% year-over-year revenue growth in its digital co-location business, reaching $2.76 million. Its energy management segment saw an impressive 139% Y/Y increase, amassing $0.97 million. Overall, the company recorded a 19% Y/Y rise in total revenue, totaling approximately $4.46 million, equivalent to about 70 BTC.

The Midland facility expansion is on track, with an expected increase in capacity by 20 MW, bringing the total to approximately 129 MW and 41,530 miners. Mawson’s current total power capacity stands at around 109 MW, sufficient for about 35,650 miners.

CEO Rahul Mewawalla expressed satisfaction with the company’s growth and plans to participate in several high-profile conferences from June to October 2024, including Mining Disrupt, Bitcoin 2024, and Blockchain Futurist, among others.

Mawson Infrastructure Group (NASDAQ:MIGI) has announced significant growth in its digital co-location business, increasing its capacity by 24% to approximately 102 MW, accommodating around 31,164 miners. This expansion includes a recent 20 MW agreement with Krypton Technologies , adding approximately 5,880 mining units. The expansion of Mawson's Midland, Pennsylvania facility is on track to reach 120 MW, boosting the total operational capacity across all facilities to around 129 MW, supporting about 41,530 miners. Mawson's strategy emphasizes scalable, sustainable digital infrastructure solutions.

Mawson Infrastructure Group (NASDAQ:MIGI) released its unaudited operational update for April 2024, showing significant year-over-year growth.

Total revenue increased by 65% to approximately $4.85 million, driven primarily by a 73% increase in self-mining revenue ($1.92 million) and a 105% surge in co-location business revenue ($2.87 million).

The company announced plans for a 20 MW expansion at its Midland facility, which will boost its total capacity to 129 MW and accommodate about 41,530 miners. Current power capacity stands at 109 MW, supporting approximately 35,650 miners.

CEO Rahul Mewawalla highlighted the company's strategic focus and operational execution as key drivers of this growth.

Upcoming conferences include Consensus in Austin, TX, AI Summit and Fintech Week in London, and Bitcoin 2024 in Nashville.

Mawson Infrastructure Group (NASDAQ: MIGI) posted robust Q1 2024 financial results with total revenue hitting $18.77 million, marking a 145% Y/Y and 34% Q/Q increase. Co-location business revenue surged by 90% Y/Y and 83% Q/Q to $8.23 million, while energy management business revenue skyrocketed 461% Y/Y and 2% Q/Q to $2.47 million. Notably, the company produced 140 BTC in Q1. Mawson also achieved a 30% Y/Y and 19% Q/Q reduction in SG&A expenses, optimizing them to $3.46 million. CEO Rahul Mewawalla announced plans to expand the Midland facilities by 20 MW, reaching a total of 120 MW. Mawson will participate in various high-profile industry conferences throughout 2024.