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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 (MIGI) has announced a deal to sell its Sandersville, Georgia Bitcoin Mining Facility and 6,468 ASIC miners to CleanSpark (CLSK) for up to $42.5 million. The sale includes approximately $33 million for the facility and $9.48 million for the miners. Proceeds will be used to reduce debt and expand mining operations in Pennsylvania, where Mawson has 220 megawatts of energy capacity. The transaction is expected to close in early October, pending customary conditions. Mawson aims to operate at 12.0 Exahash across its various sites.

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Mawson Infrastructure Group (NASDAQ:MIGI) reported an operational capacity of 3.5 Exahash by the end of July, projected to increase to 3.7 Exahash by the end of August 2022. In July, the company produced 90 Self-Mined Bitcoin and estimated revenue of $1.8M from its Energy Demand Response Program. Cumulatively, 1039 Self-Mined Bitcoin have been produced year-to-date in FY 2022. Mawson operates approximately 44,000 ASIC Bitcoin Miners across its facilities.

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Mawson Infrastructure Group (NASDAQ:MIGI) reported strong Q2 2022 financial results with revenue of $19.8 million, a 236% increase from Q2 2021. Non-GAAP EBITDA surged 756% to $13.7 million. The company produced 490 self-mined Bitcoin, up 286% year-over-year. Gross profit remained flat at $5.4 million. Mawson is expanding its mining facilities, including a 230-megawatt expansion in Georgia and a 120-megawatt Texas facility in partnership with Texas Pacific Land Corporation (NASDAQ: TPL), enhancing its operational capacity substantially.

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Mawson Infrastructure Group (NASDAQ:MIGI) has scheduled a webcast for August 22, 2022 at 5:30 p.m. Eastern Time to discuss its second-quarter results. An Investor Presentation will be available before the call on its website. U.S. callers can dial 1-877-407-4018, while international callers can reach 1-201-689-8471, referencing Conference ID 13731984. The call will also be accessible live via webcast. A replay will be available from August 22, 2022, at 8:30 p.m. ET until September 5, 2022.

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Mawson Infrastructure Group (NASDAQ:MIGI) reported a significant increase in Bitcoin production for June 2022, producing 127 Self-Mined Bitcoin, up 140% compared to June 2021. The company’s Self-Mining and Hosting Co-location capacity rose to approximately 3.1 Exahash, expected to increase to 3.5 Exahash by the end of July. Mawson has over 40,000 ASIC Bitcoin Miners deployed. In July, the company strengthened its balance sheet with $10 million in new capital, crucial due to the Chapter 11 filing of its major hosting customer, Celsius Mining LLC.

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Mawson Infrastructure Group (NASDAQ:MIGI) has completed a $6.4 million registered direct offering, issuing 8,000,000 shares at $0.80 each along with warrants for 10,000,000 shares at an exercise price of $1.01. The offering aims to bolster Mawson's digital infrastructure and support general corporate purposes. H.C. Wainwright & Co. acted as the placement agent. The warrants are exercisable six months post-issuance and expire in five and a half years. The funds are designated for infrastructure expansion, strategic transactions, and working capital.

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Mawson Infrastructure Group Inc. (NASDAQ:MIGI) announced a $6.4 million registered direct offering of 8,000,000 shares at $0.80 each, along with warrants to purchase 10,000,000 additional shares at an exercise price of $1.01. The offering is expected to close around July 20, 2022. The proceeds will be utilized to enhance digital infrastructure, engage in potential strategic transactions, and cover general corporate expenses. H.C. Wainwright & Co. is serving as the exclusive placement agent for this offering.

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Mawson Infrastructure Group (NASDAQ:MIGI) is actively participating in energy demand response programs, generating revenue while reducing operating costs. The company has received the final shipment of ASIC Bitcoin miners and will not incur further payments for deliveries. Mawson's hosting co-location services with Celsius Mining LLC continue to perform well. In light of current market volatility, Mawson has chosen to defer major capital expenditures until conditions improve, while consistently selling self-mined Bitcoin.

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Mawson Infrastructure Group (NASDAQ:MIGI) reported record Bitcoin production in May 2022, mining 185 Bitcoin, a 362% increase from May 2021 and 8% higher than April 2022. The company's Self-Mining and Hosting Co-location operations are now running at approximately 3.10 Exahash, with expectations to rise to 3.35 Exahash by the end of June 2022. Mawson's total deployed ASIC miners increased to 40,000, marking an 11% month-on-month growth. The company aims for a 4.00 Exahash self-mining rate by Q3 2022.

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Mawson Infrastructure Group (NASDAQ:MIGI) has received its final shipment of A1246 ASIC Bitcoin Miners from Canaan, enhancing its operational capacity. The company now operates approximately 40,000 miners with a total output of around 3.1 Exahash, anticipated to increase to 3.35 Exahash by the end of June. Mawson's Australian facility will be fully operational soon, contributing 0.4 Exahash and producing 1.7 Bitcoin daily. Additionally, Mawson has acquired a 33% stake in Tasmania Data Infrastructure by trading miners, positioning itself strategically in the market for future purchases.

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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 $1.64 as of November 5, 2024.

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

The market cap of Mawson Infrastructure Group (MIGI) is approximately 29.1M.

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

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MIGI Stock Data

29.13M
18.55M
20.77%
6.69%
3.38%
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