MIGI - Mawson Infrastructure Group Inc. Announces Monthly Operational Update for April 2024 | Benzinga
Total Overall Revenue up 65% Y/Y from April last year
Self-Mining Business Revenue up 73% Y/Y from April last year
Co-Location Business Revenue up 105% Y/Y from April last year
Announced 20 MW Expansion Plan increasing total capacity to 129 MW
MIDLAND, Pa., May 20, 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 April 2024.
Rahul Mewawalla, CEO and President, commented, "We are pleased with another strong month of year-over-year growth with our total overall revenue growing 65% this April over last year, driven by operational focus and execution across our self-mining and co-location services businesses. We drove growth in our self-mining business revenue by 73% and our co-location business revenue by 105% this April as compared to last year. We were also excited to announce plans to expand our Midland facilities by an additional 20 MW that should drive additional growth and customer expansion opportunities for our co-location services business. We believe our focus on operations, technology, and strategic transformation will further advance our role in the industry and our ecosystem."
Unaudited April Monthly Operating Results Summary
- Total monthly revenue increased 65% Y/Y to about $4.85 million and the equivalent of 74 BTC1.
- Self-mining business revenue increased 73% Y/Y to $1.92 million.
- Co-location business revenue increased 105% Y/Y to $2.87 million.
- Recently announced co-location expansion agreement increased Mawson's co-location services capacity to approximately 82 MW and over 25,872 miners.
- Total power capacity across Company's facilities approximately 109 MW with capacity for approximately 35,650 miners.
- Company announced plans to expand its Midland facility by 20 MW, increasing the Company's future total capacity to approximately 129 MW and about 41,530 miners.
Conferences and Events Update
Mawson has planned for its CEO and President, Rahul Mewawalla to join the following upcoming conferences and events. Please contact IR@Mawsoninc.com for further information.
- Consensus in May 2024 in Austin, Texas
- Artificial Intelligence (AI) Summit in June 2024 in London, United ...