MIGI - Mawson Infrastructure Group Inc. Announces Monthly Operational Update for September 2023 | Benzinga
September Self-Mining Bitcoin Production grew to 89 BTC
Total Number of Self-Miners Hashing increased to Approximately 16,730
Energy Market Program Monthly Revenue increased 17% M/M
SHARON, Pa., Oct. 17, 2023 (GLOBE NEWSWIRE) -- Mawson Infrastructure Group Inc. (NASDAQ:MIGI) ("Mawson" or the "Company"), a digital infrastructure company, announced today its unaudited business and operational update for September 2023.
Rahul Mewawalla, CEO and President, commented, "We are pleased that the total number of Bitcoin self-mined in Q3 grew significantly by approximately 35% sequentially to 246 BTC, up from 182 BTC last quarter. The ongoing successful implementation of our new operating excellence model combined with our overall business and technology optimization efforts have enhanced our operating metrics and continues to uplift our self-mining business performance. Moreover, Mawson's self-mining business expanded in September increasing by 7% M/M growing to approximately 16,730 miners online and hashing, and the number of self-mined Bitcoin in September also increased month-on-month to 89 BTC."
Unaudited September Monthly Operating Results Summary
- Total Power Capacity was approximately 109 MW with capacity for approximately 35,480 miners
- Self-Mining Bitcoin Production M/M increase to 89 BTC
- Total self-miners hashing at the end of September increased 7% M/M to approximately 16,730
- Self-Mining Monthly revenue reduced 4% to $2.33M given increased network difficulty rate and lower average Bitcoin prices during the period
- Energy Market Program Monthly Revenue increased 17% M/M to approximately $0.17M
Operational Updates
Mawson's sites in Pennsylvania, across Midland and Bellefonte, have currently approximately 109 MW of power capacity. The Midland facility has approximately 100 MW of power and the capacity to support a total of approximately 32,930 miners for self-mining and/or co-location services. During September, the Midland site had approximately 50 MW of self-mining capacity and approximately 14,185 miners hashing for self-mining purposes. In addition, the Company also has approximately 50 MW of capacity for co-location services. At the end of September, the Bellefonte facility, which is used entirely for self-mining purposes, was ...