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

December Co-Location Business Revenue increased 34% M/M

December Self-Mining Business Revenue increased 27% M/M

Completed second Co-Location Customer Deployment of ~6 MW and ~1,764 miners

December Total Revenue of about $5.97 million, up 24% M/M

PITTSBURGH, Jan. 16, 2024 (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 December 2023.

Rahul Mewawalla, CEO and President, commented, “We are extremely pleased to deliver another robust month of significant revenue growth with 34% month-on-month revenue growth in our co-location business and 27% month-on-month revenue growth in our self-mining business. I am tremendously proud of our organization, our continued focus on operational excellence, our technological advancements, and our accelerated completion of the deployment of our two new co-location customers at our facilities.”

Unaudited December Monthly Operating Results Summary

• Total monthly revenue about $5.97 million or about equivalent of 140 BTC¹.
• 34% M/M growth in co-location business revenue, increased to $2.66 million.
• 27% M/M growth in self-mining business revenue, increased to $2.92 million.
• Completed second customer co-location services deployment for ~6MW and 1,764 miners.
• 24% M/M growth in total overall revenue.
• Energy Management revenue was about $0.40 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 in January. Please contact [e-mail] for further information.

• 26^th Annual Needham Growth Conference in New York City, New York – Rahul Mewawalla, CEO and President
  

Operational and Other Updates

Towards the close of 2023, 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 services. 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 December, the Company completed the deployment of its newest co-location services customer, Krypton Technologies LLC, for approximately 6 MW and 1,764 miners. The Krypton deployment follows the completed deployment of the Company’s other co-location customer Consensus Technology Group (“Consensus”) for approximately 15,876 miners or approximately 50 MW. At the end of December, the Bellefonte facility was operating at approximately 8.8 MW of capacity and continues to be used entirely for self-mining purposes.