Mawson Infrastructure Group Announces Expansion Plans at Midland, Pennsylvania Facilities

Plans to Expand Midland Facilities Capacity to 120 MW and Miner Capacity to 38,810 Miners

Mawson’s Total Capacity Expected to be approximately 129 MW and 41,530 miners upon Expansion

MIDLAND, Pa., April 30, 2024 (GLOBE NEWSWIRE) -- Mawson Infrastructure Group Inc. (NASDAQ: MIGI) ("Mawson"), a digital infrastructure company, today announced plans for expansion of the Company's Midland, Pennsylvania digital infrastructure and bitcoin digital mining facilities to 120 MW and is expected to increase total miner capacity at that operational site to about 38,810 miners.

The Company is planning to expand its Midland Pennsylvania facility, which is located near Pittsburgh, given the growth in demand for its digital infrastructure business services, from both its existing co-location business services customers and from potential new enterprise customers. It also will provide Mawson with additional overall capacity and strategic adaptability across its 3 primary businesses – self-mining business, co-location services business and energy management.

Rahul Mewawalla, CEO and President of Mawson, commented, "This strategic growth initiative is expected to add momentum to the growth of Mawson’s businesses, and builds upon the expected increase in demand for our enterprise-grade digital infrastructure services moving forward. It also reflects our optimism for our Midland facilities and the greater Pittsburgh region which has become a growing hub for technology, artificial intelligence, nuclear engineering, robotics and digital infrastructure innovation.”

Mawson's Midland operational site currently has about 100 MW of existing power capacity, capable of supporting 32,930 miners for self-mining or co-location business services. Subsequent to the completion of the announced plans related to expansion, this site’s capacity is expected to increase by 20 MW to a total of 120 MW and miner capacity at this facility should increase from approximately 32,930 up to about 38,810 miners. The planned expansion at the Company’s Midland Pennsylvania facility along with the 8.8 MW of self-mining capacity at the Company’s Bellefonte, Pennsylvania facility is expected to increase Mawson's total overall combined capacity across its facilities in Pennsylvania to approximately 129 MW or about 41,530 rack spaces.