Mawson Infrastructure Group Inc. - MIGI STOCK NEWS

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.

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.

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.

Mawson Infrastructure Group (NASDAQ:MIGI) has announced the listing of the Cosmos-Purpose Ethereum Access ETF (CPET), which launched in May 2022. This ETF holds units in the Purpose Ethereum ETF, with approximately US$430 million in assets under management, providing investors regulated access to Ethereum. The partnership includes Purpose Investments and Gemini Trust Company as the custodian. Mawson remains Cosmos’ largest shareholder, emphasizing its role in promoting digital infrastructure and ESG-focused Bitcoin mining.

Mawson Infrastructure Group (NASDAQ:MIGI) has announced its investment in Tasmania Data Infrastructure Pty Ltd (TDI), becoming a 33% shareholder. TDI is developing a large-scale Bitcoin mining facility powered by 100% renewable energy at the Que River Mine Site in Tasmania, capable of up to 35 megawatts of energy initially, with expansion potential exceeding 100 megawatts. Mawson has exchanged approximately 1975 ASIC Bitcoin miners for its equity position and will host up to 10MW of its own mining capacity at the site. The financial impact will be included in Q2 2022 results.

Mawson Infrastructure Group (NASDAQ:MIGI) announces the listing of the Cosmos-Purpose Bitcoin Access ETF (CBTC), launched on May 12, 2022. This ETF, managed in partnership with Purpose Investments and Gemini Trust, provides Australian investors with access to Bitcoin through a regulated and liquid structure, holding units in the Purpose Bitcoin ETF, which has approximately US$1.2 billion in assets. Mawson remains the largest shareholder of Cosmos Asset Management, underscoring its commitment to facilitating access to digital assets while ensuring compliance with local regulations.

Mawson Infrastructure Group (NASDAQ:MIGI) reported a strong Q1 2022, with revenue of $19.4 million, a 178% increase compared to Q1 2021. The company achieved a gross profit of $11.0 million (up 138%) and a non-GAAP EBITDA of $4.5 million (up 160%). Mawson produced 459 self-mined Bitcoin, a 272% rise year-over-year. The company also upgraded its Self-Mining Exahash targets and signed new hosting customers. Mawson continues to expand with a focus on strategic growth in digital infrastructure.

Mawson Infrastructure Group (NASDAQ:MIGI) announced plans for a new 120 MW Bitcoin mining facility in Texas, aiming for full operation by Q4 2022. The facility, developed through subsidiary Luna Squares Texas LLC, will house four sites with a potential capacity of 4.0 EH of Bitcoin mining. Mawson emphasizes environmental sustainability by utilizing Carbon Credits and Renewable Energy Credits. Collaborating with Texas Pacific Land Corporation (NYSE:TPL) and JAI Energy, Mawson aims to create revenue-sharing opportunities while contributing to Texas's growing Bitcoin mining landscape.

Texas Pacific Land Corporation (NYSE: TPL), Mawson Infrastructure Group Inc. (NASDAQ: MIGI), and JAI Energy have formed a strategic alliance to develop up to 60 megawatts of bitcoin mining in West Texas. The new facilities, to be owned by Mawson, are expected to achieve up to 2.0 Exahash in operational capacity. TPL and JAI will earn net royalties and have an option for equity stakes. Construction begins in Q2 2022, with operations anticipated in Q4 2022. TPL aims to leverage its land resources for profitability in the bitcoin mining sector.