Q1 2022 revenue of $19.4 Million, up 178% vs Q1
2021
Q1 2022 gross profit of $11.0 Million, up 138%
v Q1 2021
Q1 2022 non-GAAP EBITDA of $4.5 Million, up
160% v Q1 2021
459 Self-mined Bitcoin produced in Q1 2022, up
272% v Q1 2021
Mawson Self-Mining Exahash targets upgraded in
March to 4.0 Exahash online by Q3, 2022, and 5.5 Exahash online by
early Q1, 2023
Mawson signed 112-megawatts of hosting
co-location customers (Celsius Mining LLC & Foundry Digital
LLC) in Q1 2022
Mawson Infrastructure Group Inc. (NASDAQ:MIGI) (“Mawson”), a
digital infrastructure provider, is pleased to announce business
highlights and financial results for the first quarter of 2022.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20220516005595/en/
Aerial views of Sandersville, Georgia
facility – 80-megawatts / 38 Modular Data Centers (April 2022)
(Photo: Business Wire)
Q1 2022 Financial and Business Highlights
- Q1 2022 revenue of $19.4 Million, up 178% vs Q1 2021
- Q1 2022 gross profit of $11.0 Million, up 138% v Q1 2021
- Q1 2022 non-GAAP EBITDA of $4.5 Million, up 160% v Q1 2021
- 459 Self-mined Bitcoin produced in Q1 2022, up 272% v Q1
2021
- Mawson Self-Mining Exahash targets upgraded in March to 4.0
Exahash online by Q3, 2022, and 5.5 Exahash online by early Q1,
2023
- New 100-megawatt hosting co-location customer Celsius Mining
LLC signed and first mining hardware online
- New 12-megawatt hosting co-location customer Foundry Digital
LLC signed and first mining hardware online
- 230-megawatt expansion at Georgia, USA facility approved,
capable of accommodating up to 7.5 Exahash
- Mawson’s substantial secured infrastructure pipeline (energy
capacity available for Bitcoin Mining, Modular Data Centre’s,
transformers, switch gear) continues to be deployed at pace, a
significant competitive advantage in the current climate
Subsequent to Quarter End
- New 120 megawatt Bitcoin Mining facility to be developed in
Texas, capable of accommodating up to 4.0 Exahash, with mining
hardware expected to be online in Q4, 2022
2022 Strategic Focus
- Expand existing Bitcoin self-mining operations from the
expected end of May hash rate of 1.8 Exahash, to our target of 4.0
Exahash by Q3, 2022 and to our target of 5.5 Exahash by early Q1
2023.
- Expand Mawson’s hosting co-location business from the expected
52 megawatts online by the end of May, to 116 megawatts now
contracted, and beyond.
- Continue the ongoing expansion of the company’s Georgia,
Pennsylvania, Texas and Australian Bitcoin Mining facilities.
- Continue to assess, and where appropriate, add more Bitcoin
mining facilities to the global portfolio.
- Continue to assess, and where appropriate, add more Bitcoin
miners to global operations.
- Evaluate opportunities to decrease the overall costs of Bitcoin
production.
- Continue with our strong ESG focus across our business.
James Manning, CEO and Founder of Mawson Infrastructure,
said, "Q1 2021 was a solid operational quarter for our business. We
significantly increased our Bitcoin self-mining operational
footprint, producing 459 Bitcoin in Q1, delivered Q1 revenue of
$19.4 million, up 178% vs Q1 2021, delivered Q1 gross profit of
$11.0 million, up 138% vs Q1 2021, and posted Q1 non-GAAP EBITDA of
$4.5 million, up 160% vs Q1 2021. Our hosting co-location business
accelerated in Q1 - we signed new 100-megawatt hosting co-location
customer Celsius Mining LLC, as well as new 12-megawatt hosting
co-location customer Foundry Digital LLC. In very exciting news, we
gained approval to expand our Georgia Bitcoin Mining facility to
230-megawatts, which is capable of accommodating up to 7.5 Exahash.
The pipeline of strong demand for our hosting co-location business
– which adds an additional revenue stream for the group – continues
to expand, and we look forward to updating stockholders on this
front in due course.”
Conference Call Details:
The company has scheduled a webcast for May 16, 2022 at 5:00
p.m. Eastern Time, to discuss results for the first quarter of
2022.
A new Investor Presentation will be available on the website at
www.mawsoninc.com prior to the call.
Conference Call Information:
Date: Monday, May 16, 2022 Time: 5:00 p.m. Eastern Time Dial in
Number for U.S. Callers: 1-877-407-4018 Dial in Number for
International Callers: 1-201-689-8471 Please Reference Conference
ID: 13729849
The call will also be accompanied live by webcast and will be
accessible at:
https://viavid.webcasts.com/starthere.jsp?ei=1548153&tp_key=96463d1f1a
To join the live conference call, please dial in to the above
referenced telephone numbers five to ten minutes prior to the
scheduled conference call time.
A replay will be available starting on May 16, 2022 at
approximately 8:00 p.m. ET through May 30, 2022 at 11:59 P.M. ET.
To access the replay, please dial 1-844-512-2921 in the U.S. and
1-412-317-6671 for international callers. The conference ID# is
13729849.
About Mawson Infrastructure
Mawson Infrastructure Group (NASDAQ: MIGI) is a digital
infrastructure provider, with multiple operations throughout the
USA and Australia. Mawson’s vertically integrated model is based on
a long-term strategy to promote the global transition to the new
digital economy. Mawson matches sustainable energy infrastructure
with next-generation mobile data centre (MDC) solutions, enabling
low-cost Bitcoin production and on-demand deployment of
infrastructure assets. With a strong focus on shareholder returns
and an aligned board and management, Mawson Infrastructure Group is
emerging as a global leader in ESG focused Bitcoin mining and
digital infrastructure.
For more information, visit: www.mawsoninc.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Mawson 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 21, 2022 and Mawson’s Quarterly Report on Form 10-Q filed
with the SEC on May 16, 2022, 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220516005595/en/
Investor Contact: Brett Maas 646-536-7331
brett@haydenir.com www.haydenir.com
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