Bitcoin

Mawson Infrastructure Group Inc. Announces Bitcoin Self-Mining, Colocation Hosting, and Operational Update February 2022

Mawson Infrastructure Group Inc. Announces Bitcoin Self-Mining, Colocation Hosting, and Operational Update February 2022

Mawson produced a record 152 Bitcoins in February, +300% vs February 2021

Self-Mining running at around 1.3 Exahash at the end of February, +550% vs February 2021

Self-Mining is expected to operate at around 1.5 Exahash at the end of March, producing around 6.8 Bitcoin per day1

Mawson Hosting Colocation customers at 4 megawatts online end of February, beginning of March new customer agreements signed with Celsius Mining LLC and Foundry Digital LLC for a total of additional 112 megawatts of hosting contracts

In early March, Sandersville, Georgia, USA, Bitcoin mining facility was approved for expansion to 230 megawatts, capable of producing up to 7.5 Exahash

292 Bitcoins produced from fiscal year 2022 to the end of February

SYDNEY & NEW YORK, March 15, 2022–(BUSINESS WIRE)–Mawson Infrastructure Group Inc. (NASDAQ:MIGI) (“Mawson”), a digital infrastructure provider, announces an unaudited bitcoin production and operational update for February 2022.

This press release is multimedia. See the full version here: https://www.businesswire.com/news/home/20220315005839/en/

Record Hash Rate Growth (Graph: Business Wire)

Bitcoin Self-Mining Update:

  • In February, Mawson produced 152 Bitcoins, +8.5% vs January 2022

  • Average February hash rate at around 1.15 Exahash, +28% vs Jan 2022

  • Hash rate end of February at around 1.3 Exahash, +18% vs January 2022

  • End-of-March hash rate expected to be 1.5 Exahash, yielding around 6.8 bitcoins per day1

Hosting colocation update:

  • 4 megawatts of online hosting customers in February

  • In early March, a new 100 megawatt hosting co-location agreement was signed with Celsius Mining LLC, with first deployment at Mawson’s hosting facilities expected late Q1 2022

  • In early March, a new 12 megawatt hosting colocation agreement was signed with Foundry Digital LLC, with first deployment at Mawson’s hosting facilities expected late Q1 2022

Operational update:

In February, Mawson continued to build and expand its existing and new facilities in the United States and Australia. ASIC Bitcoin miners continue to be delivered on a monthly basis, with a batch of Canaan A1246 miners delivered during the month. February saw 3 fewer calendar days compared to January, as well as a continued increase in network difficulties over the month. Despite these headwinds, Bitcoin’s monthly production increased by +8.5% compared to January 2022, and +300% compared to February 2021.

Midland, Pennsylvania facility: the first Modular Data Centers (MDCs) and power transformers have arrived, the site is expected to be online with approximately 16 megawatts of mining hardware by the end of March 2022.

Sandersville, Georgia facility: 38 Modular Data Centers (MDCs) now deployed on-premises, expected to be fully operational at approximately 80 megawatts online by the end of March 2022. Stage 3 expansion approved at 230 megawatts (capable of accommodating up to 7.5 Exahash) with site planning underway.

Australian facility: weather-related issues have resulted in an operational ramp-up that is now expected to occur throughout the second quarter, with the facility being fully operational by June 2022.

Expected hash rate growth:

Mawson expects Bitcoin Self-Mining to be at 3.35 EH by Q2 2022, and the target of 5 EH online by the start of Q1 2023 has been reiterated.

James Manning, CEO and Founder of Mawsonsaid: “February was another solid month of operational growth for the group – we produced a record 152 Bitcoins – the largest amount of self-mined Bitcoins in company history. Our Sandersville site, in Georgia, continues to grow, with 38 modular data centers now deployed, and with our expansion to 230 megawatts approved, this facility is only getting better and better. In Pennsylvania, the team has worked hard to ensure that we deliver in on time and on budget, and fortunately we will have our first modular data center powered up at this new facility at the end of March Finally, our colocation hosting business continues to accelerate – strong customer wins recently announced, including a new 100 megawatt customer Celsius Mining LLC and a new 12 megawatt customer Foundry Digital LLC, enable us to leverage our excess energy infrastructure dental, adding new sources of income for the group. »

About Mawson Infrastructure

Mawson Infrastructure Group (NASDAQ: MIGI) is a digital infrastructure provider, with multiple operations in the United States and Australia. Mawson’s vertical integration model is based on a long-term strategy to promote the global transition to the new digital economy. Mawson combines 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 an aligned board and management, Mawson Infrastructure Group is emerging as a global leader in ESG-focused Bitcoin mining and digital infrastructure.

For more information visit: www.mawsoninc.com

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

Mawson cautions that statements contained in this press release that are not a description of historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words referring to future events or circumstances such as “expect”, “intend”, “plan”, “anticipate”, “believe” and “will”, among others. Because these statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by these forward-looking statements. These forward-looking statements are based on 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 these forward-looking statements due to various risks and uncertainties, which include, but are not limited to, 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 of incentives to mine digital assets over time, the costs associated with mining digital assets, volatility in the value and prices of cryptocurrencies and additional 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 Quarterly Report on Form 10-Q filed with the SEC on November 15, 2021, and in other filings. Mawson has done and may do with the SEC in the future. Undue reliance should not be placed on these forward-looking statements, which speak only as of the date they are made. Because these statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by these forward-looking statements. Mawson undertakes no obligation to update these statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

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1 Bitcoin produced per day is based on network difficulty as of March 14, 2022. Assumes all equipment deployed and online, as well as construction of all contracted sites. Please see Coinwarz Bitcoin Mining Calculator at https://www.coinwarz.com/mining/bitcoin/calculator. The above information is provided for general information only, should not be considered forward-looking statements, and Mawson does not accept responsibility for the accuracy of any third-party information, including websites. The online calculator excludes overhead and fees (except pool fees).

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220315005839/en/

contacts

Investor contacts:
Brett Maas
646-536-7331
[email protected]
www.haydenir.com