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Mawson Infrastructure Group Inc is a digital infrastructure provider, with diversified operations across Cryptocurrency Mining and Digital Asset Management. The company's mission is to build a bridge between the rapidly emerging digital asset industry and traditional capital markets, focusing on shareholder returns. Mawson operates in a single segment surrounding its digital currency mining operation, offering digital currency or Bitcoin self-mining, customer co-location services, and energy markets.
Its CEO Rahul Mewawalla announced a strong operational update for March and April 2024, highlighting significant revenue growth and expansion plans at the Midland facility. With approximately 109 MW of total power capacity, Mawson seeks to enhance its self-mining and co-location services to meet the growing demand for digital infrastructure business services.
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.
Mawson Infrastructure Group Inc. (NASDAQ: MIGI) has appointed Anurag Gandhi as Head of Corporate Strategy and Vikram Murali as Head of Corporate Development to drive strategic growth initiatives and future ecosystem consolidation opportunities. The new hires aim to enhance Mawson's transformation, growth, and business strategies in the digital infrastructure space, aligning with the Company's expansion plans and industry trends.
Mawson Infrastructure Group Inc. (NASDAQ: MIGI) announced plans to expand its digital infrastructure and bitcoin mining facilities in Midland, Pennsylvania, increasing the capacity to 120 MW and 38,810 miners. This strategic move aims to meet the growing demand for digital infrastructure services and enhance the company's position in the market.
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