Mawson Infrastructure Group
Announces Upgrade to Exahash Targets, Financial Results for Fourth
Quarter and Full Year 2021
Full Year 2021 record revenue of
$43.9 Million, up 886% vs FY 2020
Full Year 2021 record gross profit of
$34.0 Million, up 2,526% vs FY 2020
Full Year 2021 record non-GAAP EBITDA
of $17.9 Million
Upgrade to Exahash targets – 4
Exahash by Q3 2022, 5.5 Exahash by early Q1 2023
808 Self-mined Bitcoin produced in FY
2021
New 100-megawatt facility in
Pennsylvania, USA signed
100-megawatt expansion at Georgia,
USA facility commenced
In early 2022, 100 megawatt hosting customer agreement
executed and $20M debt facility secured with Celsius Mining
LLC
First revenues from Mawson's Hosting
Co-location business
Sydney, Australia and New York
City, USA — March 22nd, 2022 -- InvestorsHub NewsWire
-- Mawson Infrastructure Group Inc.
(NASDAQ:MIGI) ("Mawson"), a digital infrastructure
provider, is pleased to announce financial highlights and financial
results, for the fourth quarter and full year ended December 31,
2021.
Q4 2021 Financial and Business
Highlights
-
Revenue of $19.6 million compared
to $10.9 million in Q3 2021, up 79%
-
Gross profit of $16.0 million,
compared to $8.4 million in Q3 2021, up 89%
-
Non-GAAP EBITDA of $10.0 million,
compared to $3.3 million in Q3 2021, up 203%
-
Record 0.83 Exahash online reached
on 22nd
December 2021
-
Stage 2 of 100 megawatt expansion
at Georgia Bitcoin mining facility ongoing
-
First Australian Bitcoin mining
facility operational, in partnership with Quinbrook Infrastructure
Partners
-
Purchased an additional 4,000
latest generation ASIC bitcoin miners
-
Mawson's Luna Squares LLC hosting
co-location business, utilizing the company's Modular Data Centre
(MDC) technology continues to expand
-
Mawson joins the Bitcoin Mining
Council
-
Cosmos Asset Management launches
'DIGA' – The Cosmos Global Digital Miners Access ETF in
Australia
Full Year 2021 Financial and
Business Highlights
-
Full year record revenue of $43.9
million compared to $4.4 million in 2020; up 886%
-
Full year record gross profit of
$34.0 million, compared to $1.3 million in 2020, up
2,526%
-
Full year record non-GAAP EBITDA of
$17.9 million
-
New 100 megawatt Bitcoin mining
facility in Pennsylvania, USA signed
-
Stage 2 of 100 megawatt expansion
at Georgia Bitcoin mining facility commenced
-
First Australian Bitcoin mining
facility operational, in partnership with Quinbrook Infrastructure
Partners
-
Total available energy
infrastructure capacity at Bitcoin mining facilities reaches 220
megawatts
-
Mawson's Luna Squares LLC hosting
co-location business launched
-
Mawson lists on the Nasdaq Capital
Market
-
Over 33,000 new ASIC Bitcoin Miners
added in FY 2021 to fleet of over 40,000 as at 31 Dec
2021
Subsequent to Quarter
End
-
New 100 megawatt hosting customer
co-location agreement signed with Celsius Mining LLC
-
Georgia, USA Bitcoin mining
facility Stage 3 expansion approved to 230 megawatts, which could
accommodate up to 7.5 Exahash of operational capacity
-
$20M debt facility executed with
Celsius Mining LLC, to accelerate the rollout of our energy
infrastructure capacity
-
New 12 megawatt hosting co-location
agreement signed with Foundry Digital LLC
2022 Strategic Focus
-
Expand existing Bitcoin mining
operations from the expected end of March online hash rate of 1.5
Exahash, to our target of 4.0 Exahash by Q3, 2022 and to our target
of 5.5 Exahash by early Q1 2023
-
Expand Luna Squares LLC hosting
co-location business from the current 4 megawatts online to the 116
megawatts now contracted, and beyond
-
Continue the ongoing expansion of
the company's Georgia, Pennsylvania 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
Aerial views of Sandersville, Georgia
facility expansion
James Manning, CEO and Founder of
Mawson Infrastructure, said, "FY 2021 was a transformational year for our
business. We significantly increased our Bitcoin self-mining
operational footprint, producing a record 808 Bitcoin, increased
revenue 886% to $43.9 million, increased our gross profit 2526% to
$34.0 million, and posted a record $17.9 million of non-GAAP
EBITDA.
We also successfully launched our
Luna Squares hosting co-location business, signed a new large-scale
facility in Midland, Pennsylvania and materially expanded the size
of our Sandersville, Georgia Bitcoin mining facility. We also
launched our first Australian facility in 2021 as well as listing
on the Nasdaq late in Q3.
The Mawson team have put in a
phenomenal effort these past 12 months and for that I am very
grateful. We enter 2022 with a large bitcoin self-mining business,
and a large scale hosting co-location business and I'm very excited
for what 2022 has in store."
###
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 November 15, 2021, 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:
Brett Maas
646-536-7331
brett@haydenir.com
www.haydenir.com