Mawson Infrastructure Group Inc. Announces Monthly Operational Update for February 2024
19 Março 2024 - 9:50AM
Mawson Infrastructure Group Inc. (NASDAQ:MIGI) (“Mawson” or the
“Company”), a digital infrastructure company, announced today its
unaudited business and operational update for February 2024.
Rahul Mewawalla, CEO and President, commented,
“We are pleased to deliver another robust month with our total
revenue in February growing 141% year-over-year from February last
year, driven by continued operational focus across our self-mining
and co-location services businesses, where we also recently
completed the deployment of our third co-location services
customer. We are also pleased with the 23% M/M growth in our
self-mining business, despite the significant recent increase in
network difficulty. Our core operational, technological, and
strategic plans continue to advance with our growing role in the
industry and our ecosystem.”
Unaudited February Monthly Operating
Results Summary
- Total monthly revenue increased
141% Y/Y to about $5.42 million and the equivalent of 109
BTC1.
- Self-mining business revenue
increased 159% Y/Y and 23% M/M to $2.56 million.
- Co-location business revenue was
$2.70 million, representing approximately 62 MW and over 19,400
miners. Energy management revenue was $0.15 million.
- Total Power Capacity was
approximately 109 MW with capacity for approximately 35,650
miners.
Conferences and Events Update
Mawson has planned to join the following upcoming conferences
and events this month. Please
contact IR@Mawsoninc.com for further information.
- Empower Conference 2024 in Houston,
Texas – Rahul Mewawalla, CEO and President
Mawson’s CEO and President, Rahul Mewawalla, will also speak
on “The Future of Artificial Intelligence (AI) and the
Increasing Demand for GPU Infrastructure” with the panel
highlighting how burgeoning AI applications are reshaping the
demand for high-performance computing, underlining the critical
role of GPU infrastructure in supporting the next wave of
technological innovation and development.
Operational and Other
Updates
Mawson’s two Pennsylvania sites, Midland and Bellefonte have
approximately 109 MW of total power capacity capable of supporting
35,650 miners for either self-mining or co-location services. The
Midland facility has approximately 100 MW of total power and the
capacity to support a total of approximately 32,930 miners for
self-mining and/or co-location services. The Company recently
completed the deployment of its third co-location services
customer, FTI for approximately 4 MW and 1,176 miners. Combined
with Mawson’s other two co-location customers Krypton Technologies
with approximately 8 MW and 2,352 miners and Consensus Technology
Group with approximately 50 MW and 15,876 miners, the total
co-location services platform currently represents approximately 62
MW and over 19,400 miners. Mawson’s Bellefonte facility continues
to operate at approximately 8.8 MW of capacity and is used entirely
for self-mining purposes.
About Mawson Infrastructure
Mawson Infrastructure Group (NASDAQ: MIGI) is a digital
infrastructure company. Mawson’s vertically integrated model is
based on a long-term strategy to promote the global transition to
the new digital economy. Mawson aligns digital infrastructure,
sustainable energy, and next-generation fixed and mobile data
center solutions, enabling efficient Bitcoin production and
on-demand deployment of digital infrastructure assets. Mawson
Infrastructure Group is emerging as a global leader in ESG focused
digital infrastructure and Bitcoin mining.
For more information, visit: https://mawsoninc.com/
Statements about hashrate capacity
Statements in the press release about hashrate capacity
(including ‘installed capacity’ or ‘nameplate capacity’), will
often differ from the actual or observed hashrate. These terms
generally make certain assumptions about the efficiency of the ASIC
miners that are in use. Some ASIC miner models will consume less
power to create the same amount of hashing power than other ASIC
miner models (typically more recent models are more efficient).
Many ASIC miner fleets are blended fleets, including various ASIC
miner models each with different efficiency ratings. Hashrate
capacity figures typically assume 100% deployment of ASIC miners.
Given the large numbers of computing units (often numbering in the
tens of thousands), ASIC mining fleets are rarely 100% deployed and
online at any one time. This can be due to a variety of factors,
including ASIC miners being under maintenance, in repair workshops,
in storage, in transit, or due to technical faults and breakdowns.
Once deployed and online, the actual or observed hashrate can be
influenced by other factors such as heat, overclocking (causing the
ASIC miner to perform at levels higher than the manufacturer’s
specifications), the age, and wear and tear exhibited by the ASIC
miners and also by the limitations of the surrounding
infrastructure, such as power outages, and MDC and transformer
breakdowns. Construction and development delays are a common risk
for mining data centers, for example due to weather, permitting
delays, or labor and equipment shortages. Investors should consider
all risk factors related to uptime when considering these figures,
which are a best-case scenario.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS
Mawson cautions that statements in this press release that are
not a description of historical fact are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements may be identified by the use of
words referencing future events or circumstances such as “expect,”
“intend,” “plan,” “anticipate,” “believe,” and “will,” among
others. Because such statements are subject to risks and
uncertainties, actual results may differ materially from those
expressed or implied by such forward-looking statements. These
forward-looking statements are based upon Mawson’s current
expectations and involve assumptions that may never materialize or
may prove to be incorrect. Actual results and the timing of events
could differ materially from those anticipated in such
forward-looking statements as a result of various risks and
uncertainties, which include, without limitation, the possibility
that Mawson’s need and ability to raise additional capital, the
development and acceptance of digital asset networks and digital
assets and their protocols and software, the reduction in
incentives to mine digital assets over time, the costs associated
with digital asset mining, the volatility in the value and prices
of cryptocurrencies and further or new regulation of digital
assets. More detailed information about the risks and uncertainties
affecting Mawson is contained under the heading “Risk Factors”
included in Mawson’s Annual Report on Form 10-K filed with the SEC
on March 23, 2023, and Mawson’s Quarterly Report on Form 10-Q filed
with the SEC on May 15, 2023, August 21, 2023, November 13, 2023,
and in other filings Mawson has made and may make with the SEC in
the future. One should not place undue reliance on these
forward-looking statements, which speak only as of the date on
which they were made. Because such statements are subject to risks
and uncertainties, actual results may differ materially from those
expressed or implied by such forward-looking statements. Mawson
undertakes no obligation to update such statements to reflect
events that occur or circumstances that exist after the date on
which they were made, except as may be required by law.
Investor Contact: Sandy Harrison Chief
Financial OfficerIR@mawsoninc.com
1 Revenue equivalent BTC is the total revenue of the Company for
the period divided by the average BTC price. For the month of
February, the figure used is $49,786.80.
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