Mawson Infrastructure Group Inc. - MIGI STOCK NEWS

Mawson Infrastructure Group Inc. (NASDAQ:MIGI) announced that it has no historical or current banking relationships with Silvergate Bank or Silicon Valley Bank. The company has successfully transferred the majority of its assets from Signature Bank to other institutions, thereby eliminating material exposure to Signature Bank. Mawson is also initiating additional banking relationships. CEO James Manning expressed sympathy for those affected by recent banking issues but emphasized Mawson's favorable position with no exposure to the troubled banks.

Mawson Infrastructure Group reported operational updates for February 2023, showcasing a total operational capacity of approximately 50 MW. The company generated around $2.2 million in revenue, with $1 million from Bitcoin self-mining and $1.2 million from hosting services. Notably, Mawson produced 43.3 BTC valued at $1 million during the month. Key achievements included the start of construction on a 120 MW facility in Sharon and the signing of a 20 MW expansion agreement in Midland. Mawson aims to enhance its Bitcoin operations to 4.5 Exahash by early Q2 2023 and 8.0 Exahash by Q4 2023.

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.

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.

Mawson Infrastructure Group Inc. (NASDAQ:MIGI) reported operational updates as of January 31, 2023, including an installed capacity of approximately 50 Megawatts from Bitcoin Self-Mining and Hosting Co-location. The company generated about $2.2 million in revenue, with $1.3 million from Hosting, $0.6 million from Self-Mining, and $0.3 million from the Energy Market Program. Mawson plans to increase its operational capacity to 100 MW by Q2 and aims for a total of 8.0 Exahash by Q4 2023. The closure of its Australian facility reflects a strategic focus on U.S. operations, where it has substantial capacity growth potential.

Mawson Infrastructure Group (NASDAQ:MIGI) has completed the installation of two substation transformers at its Midland, PA site, doubling its operational capacity to 100 MW by Q2 2023. This expansion will allow the site to accommodate 29,400 miners and achieve a processing power of 3.5 EH/s. The company generated over $4 million in revenue in December through its current operations at 50 MW. Mawson aims to ramp up its Energy Markets Program with the new capacity, enhancing its market position in Bitcoin mining while adhering to carbon-free energy standards. This site is pivotal for Mawson's growth strategy and operational flexibility.

Mawson Infrastructure Group (NASDAQ:MIGI) has initiated construction on a new 120 MW Bitcoin mining facility in Sharon, PA. The first 12 MW is expected to go live in early Q2 2023, with additional capacity launching incrementally through 2023 and early 2024. The facility is designed to accommodate up to 35,280 ASIC miners, potentially generating 4.2 EH/s. Furthermore, Mawson’s operations will include self-mining and hosting services, participating in an Energy Markets Program for revenue generation during grid stress periods. Completion of this facility will boost Mawson's total capacity to 220 MW.

Mawson Infrastructure Group (NASDAQ:MIGI) announced that over 99% of stockholders voted in favor of a 1 for 6 reverse stock split and the reduction of authorized common stock from 120 million shares to 90 million. This decision is aimed at ensuring compliance with Nasdaq's minimum bid price of $1. More than 68% of shares participated in the vote. The reverse stock split is expected to take effect on February 9, 2023. CEO James Manning expressed gratitude for strong stockholder support and noted the anticipated positive impact on compliance and stock liquidity.

Mawson Infrastructure Group (NASDAQ: MIGI) reported its December 2022 operational update, showcasing an installed Bitcoin mining capacity of approximately 2.9 Exahash. The energy market program generated around $4 million in December, contributing to a total of $13.9 million for 2022. CEO James Manning noted that December production reached 261.83 BTC, largely benefitting from the energy program's success. The company is focused on expanding its capacity to 4.5 Exahash by the end of Q1 2023 and aims for 8.0 Exahash by Q4 2023. Mawson also completed the relocation of its Georgia hosting customer to its Midland, PA facility.