Mawson Infrastructure Group Inc. Executes Another Customer Co-Location Agreement
07 February 2024 - 1:00AM
Mawson Infrastructure Group Inc. (NASDAQ:MIGI) (“Mawson” or the
“Company”), a digital infrastructure company, is pleased to
announce that the Company has signed a new co-location agreement
between a wholly-owned subsidiary of Mawson and a wholly-owned
subsidiary of Faith Technologies Incorporated (FTI).
The new customer co-location agreement is for Mawson to provide
FTI with co-location services for approximately 1,176 miners or
approximately 4 MW at Mawson’s Midland, Pennsylvania facilities
with future potential capacity expansion with Mawson upon mutual
agreement.
The FTI customer co-location agreement is the third co-location
customer agreement executed by Mawson since the start of Q4, 2023,
which develops a multi-customer base for Mawson’s co-location
business and also provides for additional growth opportunities for
Mawson capabilities and business.
Rahul Mewawalla, Mawson’s CEO and President,
commented, “We are delighted to sign and are excited to
welcome our third co-location customer since as recently as the
start of Q4, 2023, which continues our successful build of a
growing multi-customer base for Mawson’s co-location business. We
have been pleased with our recent operational and technological
enhancements across our self-mining and co-location businesses, and
our increased overall platform capabilities as we look to 2024
ahead.”
Pat McGettigan, Executive Vice President of
FTI, stated, “We are pleased to deepen our partnership
with Mawson by becoming a customer of Mawson’s co-location business
and their platform capabilities. We also appreciate the opportunity
to continue to supply our modular data centers and demonstrate
their capabilities and application in the renewable energy
space.”
Mawson anticipates its Midland facilities operating at a total
capacity of 100 MW with the combined potential for self-mining and
co-location fleets at its Midland facilities comprising
approximately 32,930 miners and 3.8 EH/s. In addition to its
facilities at Midland, Mawson has another site located in
Bellefonte, Pennsylvania, which is used entirely for self-mining
purposes. As of the end of 2023, the Bellefonte facility was
operating at approximately 8.8 MW of capacity. With self-mining and
the total co-location platforms combined, Mawson’s facilities are
expected to have a capacity of about 109 MW and about 35,650 miners
along with a total hashing capacity of approximately 4.0 EH/s.
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/
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
Mawson Infrastructure (NASDAQ:MIGI)
Historical Stock Chart
From Apr 2024 to May 2024
Mawson Infrastructure (NASDAQ:MIGI)
Historical Stock Chart
From May 2023 to May 2024