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

Digital Colocation Revenue up 166% Y/Y from August 2023 and 25% M/M from July 2024
Total Monthly Revenue up 27% M/M from July 2024
Expanded into Artificial Intelligence (AI) and High-Performance Computing (HPC) Colocation Business
Executed AI Customer Colocation Agreement for 20 MW for 6-years to colocate NVIDIA GPUs, Expected to Generate Cumulative Revenue Potential of $285 Million¹
Signed AI Customer Colocation LOI for AI and HPC Expansion to 144 MW
Expanded to Ohio with 24 MW Planned Capacity, Expected to Increase Total Capacity to 153 MW Upon Completion

MIDLAND, Pa., Sept. 16, 2024 (GLOBE NEWSWIRE) -- Mawson Infrastructure Group Inc. (NASDAQ: MIGI) (“Mawson” or “the Company”), a publicly-traded technology company focused on digital infrastructure platforms for artificial intelligence (AI), high-performance computing (HPC), and digital assets markets, today announced its unaudited business and operational update for August 2024.

Rahul Mewawalla, CEO and President said, “We are excited about another month of significant progress, including delivering 166% year-over-year revenue growth and 25% month-on-month revenue growth in our digital colocation business, along with delivering 27% month-on-month growth in our overall business revenue. We are pleased with the recent expansion of our business into artificial intelligence (AI) and high-performance computing (HPC) colocation markets, and our recent announcement of our signing a 6-year AI customer colocation agreement to enable the future acceleration of AI and HPC. Our expansion into Ohio further enhances our footprint in the PJM market, the largest wholesale competitive electric market in North America, and amongst the most attractive markets in our view for AI (artificial intelligence) and HPC (high-performance computing). Moreover, we are extremely proud of our carbon-free and sustainable energy approach, including nuclear energy. We expect AI to drive a surge of demand for digital infrastructure platforms over the next 5 years, and for increased compute capacity to be a critical driver and a strategic imperative for the broader technology industry moving forward.”