Mawson Infrastructure Group Inc. Executes New Customer Co-Location Agreement
December 19 2023 - 5:11PM
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 self-mining business has driven in recent months. In
October, Mawson signed a customer co-location agreement with a
wholly owned subsidiary of Consensus Technology Group LLC
(“Consensus”) for Mawson to provide co-location services for 15,876
miners or approximately 50 MW. The Consensus deployment was
completed by Mawson in mid-November, and the Krypton deployment is
expected to be completed by the end of December. Mawson anticipates
its Midland, Pennsylvania facilities operating at a capacity of 100
MW with the combined potential for self-mining and co-location
fleets at its Midland facilities comprising approximately 32,900
miners and 3.6 EH/s. In addition to its facilities at Midland,
Mawson has other facilities in Bellefonte, Pennsylvania, which is
used entirely for self-mining purposes. As of the end of November
2023, the Bellefonte facility was operating at approximately 8.8 MW
of capacity with approximately 2,720 self-miners hashing. With
self-mining and the total co-location platforms combined, Mawson’s
facilities are expected to have a capacity of about 109 MW and
about 35,624 miners along with a total hashing capacity of
approximately 3.8 EH/s.
About Mawson Infrastructure GroupMawson
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/
About Krypton Technologies
Krypton Technologies LLC is a fully integrated, crypto mining
services management company. Krypton offers infrastructure site
build-out, management, and hosting services for advanced data,
artificial intelligence (AI), and crypto mining companies.
Headquartered in Las Vegas, Nevada, Krypton consists of crypto
industry veterans of major crypto mining companies. To date,
Krypton has over 65 megawatts of crypto mining sites under
management, across Texas, Kansas, and Pennsylvania.
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 23, 2023, and Mawson’s Quarterly Report on Form 10-Q filed
with the SEC on May 15, 2023, August 21, 2023, November 15, 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
1 Includes approximately 1.3 EH/s from self-mining platform and
approximately 2.5 EH/s from co-location platform.
Mawson Infrastructure (NASDAQ:MIGI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Mawson Infrastructure (NASDAQ:MIGI)
Historical Stock Chart
From Apr 2023 to Apr 2024