Mawson Infrastructure Group Inc (MIGI)

[KULiquidGold]

$MIGI $4mil record energy market revenue in December

Mawson Infrastructure Group Inc Announces December 2022 Operational Update

Mawson’s installed operational capacity as of December 31, 2022 was approximately 2.9 Exahash across Bitcoin Self-Mining and Hosting Co-locations

Approximately $4 million in revenue generated from Mawson’s Energy Market Program in December, $13.9 million generated in 2022

Sharon, PA and Sydney, Australia — January 17, 2023 — Mawson Infrastructure Group Inc. (NASDAQ:MIGI) (“Mawson” or the “Company”), a digital infrastructure provider, announced today its unaudited Bitcoin production and operational update for December 2022.

James Manning, CEO commented. “December was a record month for Mawson’s energy market revenue, at approximately $4 million. This brought our equivalent BTC production to approximately 261.83 for the month, or 8.44 per day.1 This is approximately equivalent to the BTC revenue that could have been produced by 2.2 Exahash of mining in the month of December. This additional source of revenue has given Mawson an advantage through the past 6 months. Through the last 6 months this program has delivered unaudited revenue of $13.9 million. Our expansion at the Midland, Pennsylvania site continues to move forward at speed, with an online date still within Q1, 2023.The first MDCs have been delivered to our Sharon, Pennsylvania site, and we look forward to communicating the online date with our shareholders in the near future. Combined, these first containers have a total capacity of up to approximately 12 MW.2”

December Bitcoin Self-Mining, Energy Market Program & Hosting Co-location Results Update3:
? Total Bitcoin Production (actual and equivalent): 261.834
? Equivalent BTC production from Energy Market Program: 238.495
? Self-Mined Bitcoin produced: 23.34
? Self-Mining Installed Capacity: 1 EH
? Year to date self-mined Bitcoin: 1,343.51
? Energy Market Program revenue: approximately $4 million
? Year to date Energy Market Program revenue: approximately $13.9 million
? Hosting Co-location installed capacity: 1.9 EH
? Hosting Co-location megawatts installed as at end December: approximately 64 MW6
? Total installed capacity across Bitcoin Self-Mining and Hosting Co-location: 2.9 Exahash

1 “Equivalent BTC Production” is an estimate of the value of the energy market revenue (which is earned in US dollars) expressed in BTC, based on network difficulty as at December 31, 2022, and includes a number of assumptions and estimations, including the use of average USD:BTC exchange rates over the month.
2 Once fully installed, with a full deployment of latest generation miners.
3 All figures unaudited, and as at December 31, 2022.
4 Based on average price of Bitcoin in December of $16,971.
5 As above.
6 Based on fully deployed MDCs with typical power consumption for latest generation miners, not actual capacity.

Sale of Georgia Assets:
Mawson achieved another milestone by finalizing the relocation of it’s Georgia hosting customer to Mawson’s Midland, PA facility in late December. This was an obligation under the sale documents relating to the Sandersville, Georgia facility, as announced to the market on October 11, 2022. Mawson expects the balance of the cash consideration to be paid to Mawson in Q1 / early Q2 2023. All stock consideration from CleanSpark, Inc has now been issued to Mawson.

2023 Operational Focus
Mawson looks to advance in 2023 through:
1. Expansion of Bitcoin Self-Mining and Hosting Co-location operations to 4.5 Exahash by end of Q1, 2023 and to our projected 8.0 Exahash by Q4, 20237.
2. Continue the expansion of it’s 220-megawatt Pennsylvania facilities where the company has favorable energy contracts and expansion opportunities.
3. Continue with it’s Energy Markets Program, which generates revenue and reduces overall costs of production.
4. Continue to secure a portfolio of sites in it’s preferred geographies and jurisdictions for long term digital infrastructure capacity.
5. Develop strategic partnerships and relationships with customers and communities.
6. Continue to offer reliable hosting services to miners in addition to increasing self-mining capacity.
7 Assumes and is subject to successful acquisition or leasing of multiple sites and then their successful and timely development. Several sites are currently under review and in active negotiation by Mawson.
https://www.sec.gov/Archives/edgar/data/1218683/000121390023003060/ea171732ex99-1_mawson.htm