MIGI - Mawson Infrastructure Group Inc. Announces Monthly Operational Update for October 2023 | Benzinga
October Total Revenue of Bitcoin Equivalent of 110 BTC1
Signed New Co-Location Customer Agreement for ~50 MW and 15,876 miners
Company Optimizing Revenue and Margin Across its 3 Primary Businesses – Bitcoin Self-Mining, Co-Location Services, and Energy Management
PITTSBURGH, Nov. 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 October 2023.
Rahul Mewawalla, CEO and President, commented, "We are excited to bring on our new co-location services customer for approximately 50 MW and 15,876 miners, and we commenced the initial deployment of these S19 XP miners in October. We continue to strategically enhance and upgrade our platforms across all 3 of our primary businesses – our bitcoin self-mining business, our co-location services business, and our energy management business. We also benefit through our analysis of market opportunities across these businesses to drive optimization of risk-adjusted economic returns for our stakeholders, such as the significant month-on-month increase in our energy management revenue."
Unaudited October Monthly Operating Results Summary
- Total monthly revenue equivalent of 110 BTC1 or about $3.28 million.
- Commenced new co-location services customer deployment with a total planned deployment of 15,876 miners upon the completion of the deployment.
- $1.83 million self-mining revenue, $1.36 million energy management revenue, and commencement of new co-location deployment provided initial $0.08 million co-location services revenue which is expected to significantly ramp up as deployment continues and is completed.
- Total Power Capacity was approximately 109 MW with capacity for approximately 35,480 miners.
Operational Updates
Mawson's sites in Pennsylvania, Midland and Bellefonte, have approximately 109 MW of power capacity capable of supporting 35,480 miners for either self-mining or co-location. 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. In mid-October, Mawson announced the Company had signed an agreement with a subsidiary of Consensus Technology Group ("CTG") for co-location services for approximately 15,876 Bitmain Antminer S19 XP miners or approximately 50 MW at its Midland site. Mawson received initial shipments of CTG's miners and commenced installing miners at the end of October. At the end of October, the Bellefonte facility was ...