Mawson Infrastructure Group Inc. Reports Q4 and Fiscal Year 2023 Financial Results
April 01 2024 - 6:05AM
Mawson Infrastructure Group Inc. (NASDAQ: MIGI) (“Mawson”, the
Company), a digital infrastructure company, today announced its
financial and operational results for the fourth quarter and fiscal
year 2023 ended December 31, 2023.
“We are delighted with Q4 2023 being a robust
quarter of growth and a significant step forward in a
transformational year for Mawson,” said Rahul Mewawalla, CEO and
President of Mawson. “In Q4, we signed new enterprise co-location
customers and rapidly grew our co-location business revenue by 52%
this quarter compared to last quarter. We also grew our energy
management business revenue by 64% this quarter compared to last
quarter. I am grateful to our organization, our customers, and our
partners as we advanced our operational, technological, and
strategic plans. We are excited about continuing to enhance our
digital infrastructure platform capabilities across self-mining,
co-location and energy management in 2024.”
Fiscal Year 2023 and Q4 2023 Financial
and Operational Highlights
Key financial and operational highlights
for the quarter ended December 31, 2023 include
- Q4 2023 revenue
increased 24% Q/Q to $14.02 million
- Q4 2023
Co-Location business revenue increased 52% Q/Q to $4.49
million
- Q4 2023 Energy
management business increased 64% Q/Q to $2.42 million
- Q4 2023 Bitcoin
production of 193 BTC
- Executed and
deployed new enterprise co-location customers
Key financial and operational highlights
for the Fiscal Year ended December 31, 2023 include:
- FY 2023
Co-location business revenue increased 23% from FY 2022, to $16.36
million
- FY 2023 total
revenue was $43.57 million (average FY 2023 price of bitcoin was
approximately $29K)
- Produced 741
bitcoin in FY 2023
- Total assets of
$84.77 million and cash of $4.48 million at end of FY 2023
- Enhanced
strategic capabilities across digital infrastructure platform for
all 3 primary businesses – bitcoin self-mining business,
co-location services business, and energy management business
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.
- 19th Annual Needham Technology, Media and Consumer Conference
in May 2024 in New York City, New York
- Bitcoin 2024 in July 2024 in Nashville, Tennessee
About Mawson Infrastructure
Mawson 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://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 23, 2023, and Mawson’s Quarterly Report on Form 10-Q filed
with the SEC on May 15, 2023, August 21, 2023, November 13, 2023,
April 1, 2024, 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.
For more information,
visit: https://mawsoninc.com/Twitter: Mawson (@Mawsoninc) / X
(twitter.com)LinkedIn:
https://www.linkedin.com/company/mawsoninc/Facebook: Mawson Inc |
Pittsburgh PA | Facebook
Investor Contact:Investor Relations
TeamIR@mawsoninc.com
Media Contact:Media Relations
Teammediarelations@mawsoninc.com
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