Mawson Infrastructure Group Inc. Announces New 12 Megawatt Hosting Colocation Agreement with Foundry Digital LLC
New 12 megawatt hosting customer will have first mining hardware units online at the end of Q1 2022
SYDNEY & NEW YORK, March 04, 2022–(BUSINESS WIRE)–Mawson Infrastructure Group Inc. (NASDAQ:MIGI) (“Mawson”), a digital infrastructure provider, is pleased to announce that it has signed a new 12 megawatt (MW) hosting colocation agreement with Foundry Digital LLC (“Foundry”), bringing total hosting colocation under Mawson’s Luna Squares LLC (“Luna Squares”) business to 114 MW, from 2 MW as of December 31, 2021.
Mawson expects the first mining hardware under this agreement to be deployed by the end of the first quarter of 2022.
Mawson intends to deploy the mining hardware in its own proprietary Modular Data Center (MDC) technology at its facilities in the United States.
James Manning, CEO and Founder of Mawson, noted, “We are very pleased to have signed another high quality customer of significant size for our Luna Squares hosting colocation business. Given the substantial demand for hosting services in the industry at the time Currently, we are able to use our excess energy infrastructure to generate additional revenue streams for the group.In FY2021, we generated (unaudited) $850,000 in revenue from our 2MW of hosting customers – the deals we signed this week bring us to 114MW in our total hosting business.Our hosting business is growing rapidly and the total number of contracts signed to date makes us the one of the largest Nasdaq-listed Bitcoin mining ASIC hosting companies.”
About Mawson Infrastructure
Mawson Infrastructure Group (NASDAQ: MIGI) is a digital infrastructure provider, with multiple operations in the United States and Australia. Mawson’s vertical integration model is based on a long-term strategy to promote the global transition to the new digital economy. Mawson combines sustainable energy infrastructure with next-generation mobile data center (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
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
Mawson cautions that statements contained in this press release that are not a description of historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words referring to future events or circumstances such as “expect”, “intend”, “plan”, “anticipate”, “believe” and “will”, among others. Because these statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by these forward-looking statements. These forward-looking statements are based on 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 these forward-looking statements due to various risks and uncertainties, which include, but are not limited to, 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 of incentives to mine digital assets over time, the costs associated with mining digital assets, volatility in the value and prices of cryptocurrencies and additional or new regulation of digital assets. More detailed information about the risks and uncertainties affecting Mawson can be found under the heading “Risk Factors” included in Mawson’s Annual Report on Form 10-K filed with the SEC on March 1, 2021 and Mawson’s Quarterly Report on Form 10-Q filed with the SEC on November 15, 2021, and in other documents that Mawson has filed and may file with the SEC in the future. Undue reliance should not be placed on these forward-looking statements, which speak only as of the date they are made. Because these statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by these forward-looking statements. Mawson undertakes no obligation to update these statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20220304005312/en/