MIGI - Mawson Infrastructure Group Inc. Announces Monthly Operational Update for February 2024 | Benzinga
Total Revenue up 141% Y/Y from February last year
February Self-Mining Business Revenue up 159% Y/Y and up 23% M/M, about $2.56 million
February Co-Location Business Revenue about $2.70 million, represents about 62 MW and 19,400 miners
February Total Revenue of about $5.42 million
MIDLAND, Pa., March 19, 2024 (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 February 2024.
Rahul Mewawalla, CEO and President, commented, "We are pleased to deliver another robust month with our total revenue in February growing 141% year-over-year from February last year, driven by continued operational focus across our self-mining and co-location services businesses, where we also recently completed the deployment of our third co-location services customer. We are also pleased with the 23% M/M growth in our self-mining business, despite the significant recent increase in network difficulty. Our core operational, technological, and strategic plans continue to advance with our growing role in the industry and our ecosystem."
Unaudited February Monthly Operating Results Summary
- Total monthly revenue increased 141% Y/Y to about $5.42 million and the equivalent of 109 BTC1.
- Self-mining business revenue increased 159% Y/Y and 23% M/M to $2.56 million.
- Co-location business revenue was $2.70 million, representing approximately 62 MW and over 19,400 miners. Energy management revenue was $0.15 million.
- Total Power Capacity was approximately 109 MW with capacity for approximately 35,650 miners.
Conferences and Events Update
Mawson has planned to join the following upcoming conferences and events this month. Please contact IR@Mawsoninc.com for further information.
- Empower Conference 2024 in Houston, Texas – Rahul Mewawalla, CEO and President
Mawson's CEO and President, Rahul Mewawalla, will also speak on "The Future of Artificial Intelligence (AI) and the Increasing Demand for GPU Infrastructure" with the panel highlighting how burgeoning AI applications are reshaping the demand for high-performance computing, underlining the critical role of GPU infrastructure in supporting the next wave of technological innovation and development.
Operational and Other Updates
Mawson's two Pennsylvania sites, Midland and Bellefonte have approximately 109 MW of total power capacity capable of supporting 35,650 miners for either ...