MIGI - Mawson Infrastructure Group Inc. Executes New Customer Co-Location Agreement | Benzinga
New Customer Agreement for 1,764 miners or approximately 6 MW with Provision for Expansion
Full Deployment Expected to be Completed by Year-end
Once Completed, Mawson expected to have total capacity of 35,624 miners or about 109 MW with hashing capacity of approximately 3.8 EH/s1
PITTSBURGH, Dec. 19, 2023 (GLOBE NEWSWIRE) -- Mawson Infrastructure Group Inc. (NASDAQ:MIGI) ("Mawson" or the "Company"), a digital infrastructure company, is pleased to announce that the Company has signed a new customer co-location agreement between a wholly-owned subsidiary of Mawson and Krypton Technologies LLC ("Krypton").
The new customer co-location agreement executed between Mawson's CEO and Krypton's Managing Partner on December 13, 2023, is for Mawson to provide Krypton with co-location services for 1,764 miners or approximately 6 MW at Mawson's Midland, Pennsylvania facilities. Initial co-location customer agreement term is for 12 months, and the parties can extend upon mutual agreement. The co-location customer agreement also provides flexibility for future potential capacity expansion.
Rahul Mewawalla, Mawson's CEO and President, commented, "We are extremely pleased to sign and welcome another co-location customer, which we expect to contribute further to the growth of our co-location business next year. We are excited about the recent successes in our co-location business combined with the growth we have driven in our self-mining business, along with our increased capabilities in our energy management business, as we look to 2024 ahead."
David Huang, Managing Partner of Krypton Technologies LLC, stated, "We were impressed with the Mawson facilities and organization, and are looking forward to being a customer of Mawson's co-location business and their platform capabilities. We are looking forward to working with Mawson on a deployment by year-end and potentially extending our relationship further."
The Krypton agreement executed in December further increases Mawson's co-location business in addition to the growth that Mawson's ...