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Mawson Infrastructure Group Inc. Executes Customer Co-Location Agreement
8:55 am ET October 19, 2023 (Dow Jones)
Mawson Infrastructure Group Inc. Executes Customer Co-Location Agreement
Customer Agreement for about 15,876 Bitmain Antminer S19 XP
Co-location Miners and approximately 50 MW of Power
With Self-mining and Co-location platforms combined, Mawson's facilities are expected to have total capacity of about 109MW and 35,480 miners. Hashing capacity of approximately 3.7 EH/s(1) .
SHARON, Pa., Oct. 19, 2023 (GLOBE NEWSWIRE) -- Mawson Infrastructure Group Inc. (NASDAQ:MIGI) ("Mawson" or the "Company"), a digital infrastructure company, is pleased to announce that a customer co-location agreement has been signed between a wholly-owned subsidiary of Mawson and a wholly-owned subsidiary of Consensus Technology Group LLC ("Consensus") for Mawson to provide Consensus with co-location services for approximately 15,876 Bitmain Antminer S19 XP miners or approximately 50 MW at Mawson's Midland, Pennsylvania facilities.
The customer co-location agreement executed between Mawson's CEO and Consensus' CEO on October 12, 2023 includes Consensus providing approximately 15,876 Bitmain Antminer S19 XP mining machines capable of hashing at about 141 EH/s, while Mawson will pass through the power costs to the customer along with co-location service fees per MWh, as well as other fees and charges. The agreement provides for Mawson to provide co-location services to Consensus for 12 months and the parties can extend further upon mutual agreement. With the addition of this co-location customer, Mawson anticipates its Midland facilities operating at a capacity of 100 MW and the combined self-mining and co-location fleets at its Midland facilities are expected to comprise of approximately 32,930 miners.
Rahul Mewawalla, Mawson's CEO and President, commented, "I am thankful and appreciative of the multiple parties expressing interest in utilizing Mawson's co-location infrastructure and services. We are excited to welcome our newest co-location customer and to drive the growth of our co-location business in addition to our self-mining and energy management program businesses. We believe the combination of the Bitmain Antminer S19 XP miners co-located with our infrastructure services builds upon our established co-location platforms and provides for a mutually beneficial commercial relationship."
In addition to its facilities at Midland, Mawson has a site located in Bellefonte, Pennsylvania, which is used entirely for self-mining purposes. As of the end of September 2023, the Bellefonte facility was operating at approximately 8.8 MW of capacity with approximately 2,545 self-miners hashing. With self-mining and co-location platforms combined, Mawson's facilities are expected to have a total capacity of about 109 MW and about 35,480 miners along with a total hashing capacity of approximately 3.7 EH/s.
Mr. Mewawalla, added "We believe this new customer agreement and our discussions with multiple parties reflect the industry's and ecosystem's confidence in Mawson's platforms. The execution of this new customer agreement is another major accomplishment for the Company and our stakeholders."
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://mawsoninc.com/
MIGI traded above $3 within the last Month, so this is like picking up shares at a 50% discount. Total No-Brainer down here, IMO.
I am back in here in the $1.45 - $1.50 range with new positions. Way too undervalued to pass up.
Allot changed for $MIGI since last Q ending 3/31.
- BTC started Jan 1 @ $16,600 took until mid-March to get to $25K, ended at $28,400 end of March
- BTC since has been trading in the average range of around $29K range April-YTD.
MIGI made significant changes in their Mining, Energy Market Program and Hosting since March, take a look at the May numbers and positive variances that likely continued through June and July plus/minus with BTC in a fairly sideways price pattern. Let's see how this rolls since we are in the early stages of the next Bull Run, should get interesting...
https://www.otcmarkets.com/filing/html?id=16738116&guid=TCT-kHcGm-qmB3h#ea180536ex99-1_mawson_htm
I've discovered this company and really like it. looks like MIGI is trading at less than half of book. And the don't just mine but sell power during spikes. $ 4 million in revs just doing that in the month of December. News today that look promising. https://finance.yahoo.com/news/mawson-infrastructure-group-inc-expands-133000670.html
$MIGI 50mW/16,000 Bitcoin miners early Q2, 2023! HUGE update!
Feel sorry for whoever dumped this ticker this am running it all the way down to .42. Has recovered nicely back to .479.
Bingo! $2.00 Price Target for MIGI (+15% today)!
https://www.tipranks.com/experts/analysts/josh-siegler
There has been an overhang of strong resistance at .40 (a double from the low during tax loss selling in late Dec.) for several days now, but there is strong Bid support at .395 now and the overhang of resistance at .40 has lessened. If MIGI can move strongly up through .40 at some point it should resume its upward trajectory above that level.
+83.6% here since this post last Friday on the last day of Tax Loss selling. Keep laughing. I certainly am ......all the way to the Bank!
LMFAOOOOOOO
+53% in just 2 trading days. Tax loss selling season is over for another year.
Year-end tax lass selling has taken MIGI down to ridiculous lows down here around .21. 52-week range is .204 - $7.19. I am accumulating shares down here in the low .20's as it should recover strongly from the January effect after tax loss selling is over tomorrow. Actually picked up a chunk at .0298 this afternoon (low for the day) after leaving a limit order in for hours.
Insider buy - Board member
Form 4 Mawson Infrastructure For: Nov 28 Filed by: Hughes Michael Forrest
10K WIZARD 7:33 AM ET 11/29/2022
http://archive.fast-edgar.com/20221129/AM2ZI62CLZ22TZ4L22ZN2ZY2U74JZ222ZQ46
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