Mawson Infrastructure Group Inc. Announces Monthly Operational Update for November 2023

November Total Revenue increased 47% M/M

November Total Revenue of Bitcoin Equivalent of 132 BTC¹

Completed Co-Location Customer Deployment of ~50 MW and ~15,876 miners

Recently Signed Additional Co-Location Customer For ~6 MW and 1764 miners

PITTSBURGH, Dec. 20, 2023 (GLOBE NEWSWIRE) -- Mawson Infrastructure Group Inc. (NASDAQ:MIGI) (“Mawson” or the “Company”), a digital infrastructure company, announced today its unaudited business and operational update for November 2023.

Rahul Mewawalla, CEO and President, commented, “We are very excited to announce the completion of the full deployment of our new co-location customer in mid-November, adding approximately 15,876 miners at our Midland, Pennsylvania facility. With this deployment completed in the middle of November, along with upcoming ramp up of our most recently executed and new co-location customer agreement, we expect our co-location business to expand further in December and into 2024. In addition to further growth in our co-location business, we are excited about the growth we have driven in our self-mining and overall business, including the recent 47% increase in total revenue over the prior month.”

Unaudited November Monthly Operating Results Summary

• Total monthly revenue equivalent of 132 BTC¹ or about $4.81 million.
• 47% M/M growth in total revenue.
• Completed new customer co-location services deployment for a total of ~15,876 Bitmain S19 XP miners.
• Co-location services revenue ramped up significantly to $1.98 million.
• Self-mining revenue increased with 24% M/M growth to $2.29 million.
• Energy Management revenue of $0.54 million.
• Total Power Capacity was approximately 109 MW with capacity for approximately 35,650 miners.   
  

Conferences and Events Update

Mawson has planned to join the following upcoming conferences and events next month. Please contact [e-mail] for further information.

• Annual Needham Growth Conference in New York City, New York – Rahul Mewawalla, CEO and President and Sandy Harrison, CFO
• Quantum Conference in Miami, Florida – Rahul Mewawalla, CEO and President

Operational Updates

In November, Mawson’s two Pennsylvania sites, Midland and Bellefonte had approximately 109 MW of total power capacity capable of supporting 35,650 miners for either self-mining or co-location. The Midland facility had approximately 100 MW of total power and the capacity to support a total of approximately 32,930 miners for self-mining and/or co-location services. In the middle of November, the Company completed the deployment of its new co-location services partner, a wholly-owned subsidiary of Consensus Technology Group (“Consensus”) for approximately 15,876 Bitmain Antminer S19 XP miners or approximately 50 MW at its Midland site. In December, the Company announced that it executed another co-location agreement with a new co-location customer Krypton Technologies LLC, for approximately 6 MW and 1,764 miners, which is expected to be ramped up and deployed by the end of the year. At the end of November, the Bellefonte facility was operating at approximately 8.8 MW of capacity and continues to be used entirely for self-mining purposes.