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Mawson Infrastructure Group Inc. (NASDAQ: MIGI) announced unaudited Bitcoin production and operational update for April 2022.
Mawson Self-Mining and Hosting Co-location operating at approximately 2.4 Exahash as at end of April, expected to rise to approximately 3.3 Exahash by end of May 2022.
Bitcoin Self-Mining Update:
- In April Mawson produced 171 Bitcoin, +384% vs April 2021
- April average hash rate at approximately 1.3 Exahash, +583% vs April 2021
- April end of month hash rate at approximately 1.4 Exahash, +679% vs April 2021
- May end of month hash rate expected to be approximately 1.8 Exahash, producing approximately 8.0 Bitcoin per day
Hosting Co-location Update:
- Mawson Hosting Co-location at 28 megawatts online end of April (+75% vs March 2022), expected to rise to approximately 52 megawatts online by end of May (+85% vs April 2022), as Mawson customers Celsius Mining LLC (100 megawatts) and Foundry Digital LLC (12 megawatts) deployments are scaled up
Operational Update:
In April Mawson continued to build out and expand its existing and new facilities in the USA and Australia. ASIC Bitcoin miners continue to be delivered on a monthly basis, with a batch of Canaan A1246 miners delivered during the month. April was characterized by a rise in network difficulty. Despite this, monthly Bitcoin production was up +1% vs March 2022, and up +384% vs April 2021. Mawson now has over 36,000 ASIC Bitcoin Miners deployed at its facilities across the USA and Australia across its Self-Mining and Hosting Co-location businesses, up from 22,000 in March 2022.
Midland, Pennsylvania facility – Modular Data Centers (MDCs) now being rolled out progressively, site expected to have approximately 52 megawatts of mining hardware online by the end of May 2022.
Sandersville, Georgia facility: 38 Modular Data Centers (MDCs) online, site now fully operational at approximately 80 megawatts. Stage 3 expansion approved to 230 megawatts (capable of accommodating up to 7.5 Exahash) with development planning for 150 megawatt expansion commencing in June 2022.
New South Wales, Australia facility: site commissioning ongoing, with operational ramp up expected to occur steadily throughout May and June, with approximately 0.1 Exahash online by the end of May. The facility is expected to be fully operational with approximately 0.4 EH online by June 2022.
Mawson expects Bitcoin Self-Mining to be at 4.0 EH by Q3, 2022, and target of 5.5 EH online by early Q1 2023 reiterated.
Aerial view of Midland, Pennsylvania facility development (April 2022)
USA Modular Data Center (MDC) fabrication facility
Aerial view of Midland, Pennsylvania facility development (May 2022)
James Manning, CEO and Founder of Mawson, said, “April was operationally solid for the business, with a particularly pleasing result in our hosting co-location business ramp up, where we expanded from 16 megawatts online in March, to 28 megawatts online in April. We expect this to rise to 52 megawatts online by the end of May, as we progressively roll out and expand our second major Bitcoin mining facility in the town of Midland, Pennsylvania. The Mawson team continued to expand over the month with more high-quality individuals joining the Mawson family. We anticipate a meaningful step up in our Bitcoin Self-Mining operations in May, to 1.8 Exahash, and expect further solid growth on this front in May and June.”
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