Mawson Infrastructure Group Inc. Announces Monthly Operational Update for January 2024

3X Growth in Total Revenue from January last year, and revenue up about 18% M/M

January Total Revenue of about $7.06 million

Recently Announced Third New Co-Location Customer Agreement

PITTSBURGH, Feb. 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 January 2024.

Rahul Mewawalla, CEO and President, commented, “We are very pleased to see the continued progress across our three primary business lines and our total revenue in January 2024 growing to triple of our total revenue back in January last year. We were also delighted to recently announce the signing and welcoming of FTI as our newest co-location customer, the third consecutive co-location customer agreement executed by the Company since the start of Q4, 2023. Our operational, technological, and strategic plans continue to advance and we are excited about 2024 ahead for Mawson and our broader industry and ecosystem.”

Unaudited January Monthly Operating Results Summary

• Total monthly revenue of about $7.06 million or about the equivalent of 174 BTC¹.
• More than 3X growth from January 2023 in Total Overall Revenue and about 18% M/M revenue growth.
• Energy management business revenue of $2.20 million, co-location business revenue of  $2.78 million and self-mining revenue of $2.08 million.
• Expanded our co-location customer base and have now signed three new customers since the start of Q4, 2023.
• Total Power Capacity was approximately 109 MW with capacity for approximately 35,650 miners.
  
  

Operational and Other Updates

Mawson’s two Pennsylvania sites, Midland and Bellefonte have approximately 109 MW of total power capacity capable of supporting 35,650 miners for either self-mining or co-location services. The Midland facility has 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. The Company recently completed the deployment of its second co-location services customer, Krypton Technologies LLC, for approximately 6 MW and 1,764 miners which joined the Company’s largest co-location customer Consensus Technology Group (“Consensus”) with approximately 15,876 miners or approximately 50 MW. Mawson recently announced to the signing of its third new co-location services customer FTI for approximately 4 MW and 1,176 miners which when completed will bring the total co-locations services platform to approximately 60 MW and over 18,800 miners. Mawson’s Bellefonte facility continues to operate at approximately 8.8 MW of capacity and is used entirely for self-mining purposes.