Mawson Infrastructure Group Inc. Announces New 12 Megawatt Hosting Co-location Agreement with Foundry Digital LLC
New 12 megawatt hosting customer to have first mining hardware units online end of Q1, 2022
SYDNEY & NEW YORK–(BUSINESS WIRE)–Mawson Infrastructure Group Inc. (NASDAQ:MIGI) (“Mawson”), a digital infrastructure provider, is pleased to announce it has signed a new 12 megawatt (MW) hosting co-location agreement with Foundry Digital LLC (“Foundry”), bringing total hosting co-location under Mawson’s Luna Squares LLC (“Luna Squares”) business to 114 MW, up from 2 MW as at 31 December, 2021.
Mawson expects first mining hardware under this agreement to be deployed by the end of Q1, 2022.
Mawson intends to deploy the mining hardware inside its own proprietary Modular Data Centre (MDC) technology at its facilities in the United States.
James Manning, CEO and Founder of Mawson, said, “We are very happy to have signed another high-quality customer of significant scale to our Luna Squares hosting co-location business. Given the substantial demand for hosting services in the industry at present, we are able to utilize our surplus energy infrastructure to generate additional revenue streams for the group. In FY2021, we generated (unaudited) $850,000 in revenue from our 2 MW of hosting customers – the agreements we have signed this week take us to 114 MW in our hosting business in total. Our hosting business is expanding rapidly and total contracts signed to date makes us one of the largest Nasdaq listed Bitcoin mining ASIC hosting companies.”
About Mawson Infrastructure
Mawson Infrastructure Group (NASDAQ: MIGI) is a digital infrastructure provider, with multiple operations throughout 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 centre (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
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 1, 2021 and Mawson’s Quarterly Report on Form 10-Q filed with the SEC on November 15, 2021, 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.