Sydney and New York – (work wire) – The Mawson Infrastructure Group Inc. (NASDAQ: MIGI) (“Mawson”), a digital infrastructure provider, announced its unaudited Bitcoin Production and Operations Update for April 2022.
Mawson Self-Mining and Hosting Co-Location operating at around 2.4 Exahash at the end of April, and expected to rise to around 3.3 Exahash by the end of May 2022.
Bitcoin self-mining update:
In April, Mawson produced 171 Bitcoin, +384% compared to April 2021
Average hash rate for April at ~1.3 Exahash, +583% compared to April 2021
The hash rate at the end of April at ~1.4 Exahash, +679% compared to April 2021
The hash rate at the end of May is expected to be around 1.8 Exahash, producing approximately 8.0 Bitcoin per day
Shared site hosting update:
Mawson Hosting co-located at 28MW online by end of April (+75% compared to March 2022), expected to rise to approximately 52MW online by end of May (+85% compared to April 2022), as clients of Mawson Celsius Mining LLC (100MW). ) and Foundry Digital LLC (12 MW)
In April, Mawson continued to build and expand its existing and new facilities in the USA and Australia. ASIC Bitcoin miners continue to be delivered on a monthly basis, with a batch of Canaan A1246 miners delivering during the month. The month of April was marked by high network difficulty. Despite this, monthly Bitcoin production is up +1% compared to March 2022, and +384% higher compared to April 2021. Mawson now has more than 36,000 ASIC Bitcoin miners spread out in its facilities across the US and Australia via its self-mining and hosting company. Business locations, up from 22,000 in March 2022.
Midland, Pennsylvania facility – Modular data centers (MDCs) are now being rolled out gradually, and the site is expected to have approximately 52MW of online mining hardware by the end of May 2022.
Sandersville, Georgia facility: 38 Modular Data Centers (MDCs) online, the site is now fully operational at around 80 MW. Phase III expansion has been approved to reach 230 MW (capable of holding up to 7.5 exashes) with development planning for a 150 MW expansion commencing in June 2022.
New South Wales facility, Australia: The site is up and running, with uptime expected steadily through May and June, with approximately 0.1 Exahash online by the end of May. The facility is expected to be fully operational with approximately 0.4 EH online by June 2022.
Expected Hash Rate Growth:
Mawson expects Bitcoin to be self-mining at 4.0 EH by Q3 2022, and to have a target of 5.5 EH online by early Q1 2023.
James Manning, CEO and Founder of MawsonHe said, “April was strong operationally for business, and the result was particularly satisfactory in ramping up the co-location hosting business, as we expanded from 16 MW online in March, to 28 MW online in April. We expect this to rise to 52 Megawatts will be online by the end of May as we gradually begin to roll out and expand our second major Bitcoin mining facility in Midland, Pennsylvania.The Mawson team has continued to expand throughout the month as more quality individuals join the Mawson family.We expect meaningful progress In Bitcoin self-mining in May, to 1.8 Exahash, we expect further strong growth on this front in May and June.”
About Mawson Infrastructure
The Mawson Infrastructure Group (NASDAQ: MIGI) is a digital infrastructure provider, with multiple operations across the USA and Australia. Mawson’s vertically integrated model is based on a long-term strategy to promote the global transition to the new digital economy. Mawson matches sustainable energy infrastructure with next-generation mobile data center (MDC) solutions, enabling low-cost Bitcoin production and on-demand deployment of infrastructure assets. With a strong focus on shareholder returns and a compliant board of directors and management, The Mawson Infrastructure Group is emerging as a global leader in Bitcoin mining and digital infrastructure focused on ESG.
For more information, visit: www.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 using words that refer to future events or circumstances such as “expect” and ” intends, “plans,” “expects,” “believes,” and “will,” among others. Because such statements are subject to risks and uncertainties, actual results could differ materially from those expressed or implied by these forward-looking statements. These forward-looking statements are based on Mawson’s current expectations and include assumptions that may never materialize or may prove incorrect. Actual results and timing of events could differ materially from those projected in such forward-looking statements as a result of various risks and uncertainties, including, but not limited to, Mawson’s potential need for and ability to raise additional capital, development and acceptance. Digital asset and digital asset networks, protocols and programs, reduced incentives to mine digital assets over time, costs associated with mining digital assets, 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 “Risk Factors” included in Mawson’s annual Report on Form 10-K filed with the Securities and Exchange Commission on March 21, 2022 and Mawson’s Quarterly Report on Form 10-Q filed with the SEC on 15 November 2021, and in other filings Mawson has submitted and may file with the SEC in the future. One should not place undue reliance on these forward-looking statements, which speak only as of the date they are made. Because such statements are subject to risks and uncertainties, actual results could differ materially from those expressed or implied by these forward-looking statements. Mawson undertakes no obligation to update this data to reflect events that occur or circumstances that occurred after the date on which they occurred, except as may be required by law.
1,2 Bitcoins produced per day depend on network difficulty as of May 10, 2022. Assuming all equipment is deployed and 100% online, as well as all contracted sites established on time, actual results are likely to vary in a negative way. Build delays are common and it is rare for all equipment to be 100% online, however accurate historical downtime averages are difficult to calculate and may also not provide an accurate picture due to differences in the future. Investors should consider all risk factors related to uptime when considering these numbers, which is the best case scenario. Please see Coinwarz Bitcoin Mining Calculator at https://www.coinwarz.com/mining/bitcoin/calculator. The above information is for general information purposes only, and should not be considered forward-looking statements and Mawson assumes no responsibility for the accuracy of third party information, including websites. The online calculator excludes overheads and fees (excluding pool fees).