Mawson Infrastructure Group Inc. Invites Submission of Indication of Interest for its BTC Hosting and HPC Co-location Services
25 Juli 2023 - 3:21PM
Business Wire
Digital Hosting Infrastructure Sites located in
competitively priced and reliable PJM energy markets across
multiple sites supported by Mawson’s operational capabilities
Strong interest in BTC mining hosting
partnerships along with growth in applications like AI and HPC
accelerating interest in demand for digital infrastructure and
hosting capabilities
Mawson Infrastructure Group Inc. (NASDAQ:MIGI) (“Mawson” or the
“Company”), a digital infrastructure provider, announced today that
it is inviting outside parties to provide Indications of Interest
(IOI) for the Company’s hosting and digital infrastructure services
that include BTC (Bitcoin) miner hosting, HPC (High Performance
Computing) co-location, and other potential partnerships utilizing
its digital infrastructure and hosting locations. The Company
expects a significant increase in demand and interest for reliable,
scalable, and readily available hosting rack space, and is seeking
to engage with potential suitable customers and counterparties.
Along with its bitcoin self-mining business and energy market
program business, Mawson continues to build-out its hosting and
co-location businesses. Mawson is offering significant
opportunities for potential hosting customers and partners to
engage in discussions with Mawson around as much as 55 MW in
potential hosting capacity. Mawson has been expanding its overall
capacity across its multiple sites and operations in Pennsylvania
and Ohio. Mawson has also received and acknowledged a notice of
intent not to renew a customer equipment co-location agreement, or
hosting agreement, from a current customer, Celsius Mining LLC,
therefore that hosting agreement shall expire in accordance with
its terms on August 23, 2023. This should result in significant
opportunities for Mawson and potential hosting customers to engage
in discussions on approximately 20,000 rack spaces available with
capacity to expand further.
Rahul Mewawalla, CEO and President, commented, “Given
recent developments in Bitcoin mining and HPC co-location driven by
the upcoming halving for bitcoin and the growing applications for
AI and other HPC related hosting capabilities, there is growing
demand for reliable, scalable, and well operated hosting and
co-location sites such as those run by Mawson. We are therefore
looking forward to running a streamlined process in the open market
to engage with potential hosting customers to deliver mutual
benefits for our hosting customers and our hosting business, as
well as deliver the best value to our stakeholders. Given our
favorable geographic site locations, competitive power contracts,
reliable and dependable operations, advanced information systems,
combined with the tremendous talent and site engineers at our
sites, we are excited to deliver enhanced value to our hosting
customers.”
Interested hosting or co-location customers and partners looking
for available digital infrastructure capacity should email
hosting@mawsoninc.com. Indications of Interest received will be
reviewing on a rolling basis.
About Mawson Infrastructure
Mawson Infrastructure Group (NASDAQ: MIGI) is a digital
infrastructure provider with multiple operations throughout the
USA. Mawson’s vertically integrated model is based on a long-term
strategy to promote the global transition to the new digital
economy. Mawson matches digital infrastructure, sustainable energy,
and next-generation Mobile Data Center (MDC) solutions, enabling
efficient Bitcoin production and on-demand deployment of
infrastructure assets. With a strong focus on shareholder returns
and strategic growth, Mawson Infrastructure Group is emerging as a
global leader in ESG focused digital infrastructure and Bitcoin
mining.
For more information, visit: www.mawsoninc.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Mawson cautions that statements in this press release that are
not a description of historical fact are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements may be identified by the use of
words referencing future events or circumstances such as “expect,”
“intend,” “plan,” “anticipate,” “believe,” and “will,” among
others. Because such statements are subject to risks and
uncertainties, actual results may differ materially from those
expressed or implied by such forward-looking statements. These
forward-looking statements are based upon Mawson’s current
expectations and involve assumptions that may never materialize or
may prove to be incorrect. Actual results and the timing of events
could differ materially from those anticipated in such
forward-looking statements as a result of various risks and
uncertainties, which include, without limitation, the possibility
that Mawson’s need and ability to raise additional capital, the
development and acceptance of digital asset networks and digital
assets and their protocols and software, the reduction in
incentives to mine digital assets over time, the costs associated
with digital asset mining, the volatility in the value and prices
of cryptocurrencies and further or new regulation of digital
assets. More detailed information about the risks and uncertainties
affecting Mawson is contained under the heading “Risk Factors”
included in Mawson’s Annual Report on Form 10-K filed with the SEC
on March 23, 2023, and Mawson’s Quarterly Report on Form 10-Q filed
with the SEC on May 15, 2023 and in other filings Mawson has made
and may make with the SEC in the future. One should not place undue
reliance on these forward-looking statements, which speak only as
of the date on which they were made. Because such statements are
subject to risks and uncertainties, actual results may differ
materially from those expressed or implied by such forward-looking
statements. Mawson undertakes no obligation to update such
statements to reflect events that occur or circumstances that exist
after the date on which they were made, except as may be required
by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230725593258/en/
Investor Contact: Sandy Harrison Chief Financial Officer
IR@mawsoninc.com
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