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Mawson Infrastructure Group Inc. - MIGI STOCK NEWS

Welcome to our dedicated page for Mawson Infrastructure Group news (Ticker: MIGI), a resource for investors and traders seeking the latest updates and insights on Mawson Infrastructure Group stock.

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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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Mawson Infrastructure Group (NASDAQ:MIGI) reports an operational capacity of approximately 2.5 Exahash by the end of November, driven by Bitcoin Self-Mining and Hosting Co-location. In November, the company generated about $1.6 million from its Energy Market Program, totaling $9.9 million for 2022. The November Bitcoin production equaled 124 BTC, including 34 self-mined BTC. Mawson has initiated expansion plans for its Pennsylvania facilities, targeting a capacity increase to 4.5 Exahash by Q1 2023 and 8.0 Exahash by Q4 2023.

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Mawson Infrastructure Group reported strong Q3 2022 results with $28.3 million in revenue, a 160% increase compared to Q3 2021. The company's gross profit rose to $10.1 million, up 20%, while non-GAAP EBITDA soared to $8.8 million, reflecting a 203% growth. Mawson sold its Georgia facility to CleanSpark Inc for approximately $40 million, expected to yield a $18 million profit. The company continues to expand its Pennsylvania facilities, aiming for an operational capacity of 8.0 Exahash by late 2023.

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FAQ

What is the current stock price of Mawson Infrastructure Group (MIGI)?

The current stock price of Mawson Infrastructure Group (MIGI) is $1.79 as of November 22, 2024.

What is the market cap of Mawson Infrastructure Group (MIGI)?

The market cap of Mawson Infrastructure Group (MIGI) is approximately 31.2M.

What is Mawson Infrastructure Group Inc's primary focus?

Mawson Infrastructure Group Inc focuses on providing digital infrastructure services through Cryptocurrency Mining and Digital Asset Management.

What are the three primary businesses of Mawson Infrastructure Group Inc?

The company's primary businesses include digital currency or Bitcoin self-mining, customer co-location services, and energy markets.

Who is Mawson Infrastructure Group Inc's CEO?

Rahul Mewawalla is the CEO and President of Mawson Infrastructure Group Inc.

What did the CEO highlight in the operational update for March and April 2024?

The CEO highlighted significant revenue growth and expansion plans at the Midland facility.

What is the total power capacity of Mawson Infrastructure Group Inc's operating sites?

Mawson Infrastructure Group Inc's operating sites have approximately 109 MW of total power capacity.

What is Mawson Infrastructure Group Inc's mission?

The company's mission is to build a bridge between the digital asset industry and traditional capital markets, focusing on shareholder returns.

Where can I learn more about Mawson Infrastructure Group Inc's operations?

For more information about Mawson Infrastructure Group Inc's operations, visit their official website at https://www.mawsoninc.com.

What are Mawson Infrastructure Group Inc's expansion plans?

The company plans to expand its Midland facility near Pittsburgh to meet the growing demand for digital infrastructure business services.

What are the key services offered by Mawson Infrastructure Group Inc?

Mawson Infrastructure Group Inc offers digital currency or Bitcoin self-mining, customer co-location services, and energy markets.

How does Mawson Infrastructure Group Inc plan to accelerate the digital economy?

Mawson Infrastructure Group Inc uses innovation, technology, and operational expertise to optimize digital infrastructure and accelerate the digital economy.

Who are the new hires at Mawson Infrastructure Group Inc?

Anurag Gandhi, Director of Corporate Strategy, and Vikram Murali, Director of Corporate Development, have joined the Mawson team to lead strategic and growth activities for the company.

Mawson Infrastructure Group Inc.

Nasdaq:MIGI

MIGI Rankings

MIGI Stock Data

31.24M
14.89M
20.77%
7.92%
3.79%
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