CORRECTION – Mawson Infrastructure Group Inc. Executes Customer Co-Location Agreement
October 20 2023 - 6:23PM
In a release issued under the same headline
on Thursday, October 19th by Mawson Infrastructure Group Inc.
(NASDAQ:MIGI), please note the numbers listed in footnote 1 were
reversed and "141 EH/s" in the second paragraph was changed to
"141 TH/s". The corrected release follows:
Customer Agreement for about 15,876 Bitmain
Antminer S19 XPCo-location Miners and approximately 50 MW of
Power
With Self-mining and Co-location platforms
combined, Mawson’s facilities are expected to have total capacity
of about 109MW and 35,480 miners. Hashing capacity of approximately
3.7 EH/s1.
Mawson Infrastructure Group Inc. (NASDAQ:MIGI) (“Mawson” or the
“Company”), a digital infrastructure company, is pleased to
announce that a customer co-location agreement has been signed
between a wholly-owned subsidiary of Mawson and a wholly-owned
subsidiary of Consensus Technology Group LLC (“Consensus”) for
Mawson to provide Consensus with co-location services for
approximately 15,876 Bitmain Antminer S19 XP miners or
approximately 50 MW at Mawson’s Midland, Pennsylvania
facilities.
The customer co-location agreement executed between Mawson’s CEO
and Consensus’ CEO on October 12, 2023 includes Consensus providing
approximately 15,876 Bitmain Antminer S19 XP mining machines
capable of hashing at about 141 TH/s, while Mawson will pass
through the power costs to the customer along with co-location
service fees per MWh, as well as other fees and charges. The
agreement provides for Mawson to provide co-location services to
Consensus for 12 months and the parties can extend further upon
mutual agreement. With the addition of this co-location customer,
Mawson anticipates its Midland facilities operating at a capacity
of 100 MW and the combined self-mining and co-location fleets at
its Midland facilities are expected to comprise of approximately
32,930 miners.
Rahul Mewawalla, Mawson’s CEO and President,
commented, “I am thankful and appreciative of the multiple
parties expressing interest in utilizing Mawson’s co-location
infrastructure and services. We are excited to welcome our newest
co-location customer and to drive the growth of our co-location
business in addition to our self-mining and energy management
program businesses. We believe the combination of the Bitmain
Antminer S19 XP miners co-located with our infrastructure services
builds upon our established co-location platforms and provides for
a mutually beneficial commercial relationship.”
In addition to its facilities at Midland, Mawson has a site
located in Bellefonte, Pennsylvania, which is used entirely for
self-mining purposes. As of the end of September 2023, the
Bellefonte facility was operating at approximately 8.8 MW of
capacity with approximately 2,545 self-miners hashing. With
self-mining and co-location platforms combined, Mawson’s facilities
are expected to have a total capacity of about 109 MW and about
35,480 miners along with a total hashing capacity of approximately
3.7 EH/s.
Mr. Mewawalla, added “We believe this new
customer agreement and our discussions with multiple parties
reflect the industry’s and ecosystem’s confidence in Mawson’s
platforms. The execution of this new customer agreement is another
major accomplishment for the Company and our stakeholders.”
About Mawson InfrastructureMawson
Infrastructure Group (NASDAQ: MIGI) is a digital infrastructure
company. Mawson’s vertically integrated model is based on a
long-term strategy to promote the global transition to the new
digital economy. Mawson aligns digital infrastructure, sustainable
energy, and next-generation fixed and mobile data center solutions,
enabling efficient Bitcoin production and on-demand deployment of
digital infrastructure assets. Mawson Infrastructure Group is
emerging as a global leader in ESG focused digital infrastructure
and Bitcoin mining.
For more information, visit: https://mawsoninc.com/
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTSMawson cautions that statements in this press
release that are not a description of historical fact are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words referencing future
events or circumstances such as “expect,” “intend,” “plan,”
“anticipate,” “believe,” and “will,” among others. Because such
statements are subject to risks and uncertainties, actual results
may differ materially from those expressed or implied by such
forward-looking statements. These forward-looking statements are
based upon Mawson’s current expectations and involve assumptions
that may never materialize or may prove to be incorrect. Actual
results and the timing of events could differ materially from those
anticipated in such forward-looking statements as a result of
various risks and uncertainties, which include, without limitation,
the possibility that Mawson’s need and ability to raise additional
capital, the development and acceptance of digital asset networks
and digital assets and their protocols and software, the reduction
in incentives to mine digital assets over time, the costs
associated with digital asset mining, the volatility in the value
and prices of cryptocurrencies and further or new regulation of
digital assets. More detailed information about the risks and
uncertainties affecting Mawson is contained under the heading “Risk
Factors” included in Mawson’s Annual Report on Form 10-K filed with
the SEC on March 23, 2023, and Mawson’s Quarterly Report on Form
10-Q filed with the SEC on May 15, 2023, August 21, 2023, and in
other filings Mawson has made and may make with the SEC in the
future. One should not place undue reliance on these
forward-looking statements, which speak only as of the date on
which they were made. Because such statements are subject to risks
and uncertainties, actual results may differ materially from those
expressed or implied by such forward-looking statements. Mawson
undertakes no obligation to update such statements to reflect
events that occur or circumstances that exist after the date on
which they were made, except as may be required by law.
Investor Contact: Sandy Harrison Chief
Financial OfficerIR@mawsoninc.com
1Includes approximately 1.3 EH/s from self-mining platform and
approximately 2.4 EH/s from co-location platform.
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