A Mawson Infrastructure Recap on Benzinga All-Access Title – MAWSON INFRSTRUCTURE GRP by Mawson Infrastructure Group Inc. (MIGI)

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The following post was written and / or published as part of a collaboration between Benzinga’s internal sponsored content team and a Benzinga financial partner.

Nick Hughes-Jones, Commercial Director (CCO) of Mawson Infrastructure Group Inc. (NASDAQ: MIGI) joined Benzinga’s All-Access Show to discuss recent company developments.

Highlights of the interview are listed below:

General:

  • Mawson Infrastructure is a digital asset company focused on Bitcoin mining.
  • Since listing on NASDAQ 2 months ago, it has amassed $ 45 million in funding and reached a market cap of $ 800 million.

Quarterly report :

  • In the third quarter of 2021, Mawson:
    • Recently declared earnings.
    • Purchased 17,000 additional mining machines.
    • Achieved a hash processing rate of 0.8 hash exa per second (ex / s) in November. This allows him to mine 4.5 Bitcoins per day.
    • Beginning of the 100 MW expansion of its mining facility in Sandersville, Georgia.
    • Signature of a partnership with Quinbrook Infrastructure Partners – an infrastructure fund for green energy.
    • Signing of a new 100 megawatt installation in Pennsylvania.

Funding and future plans:

  • Mawson raised a total of about $ 120 million; 25% of the company belongs to the board of directors and the management; $ 37 million was raised in August 2021.
  • Mawson plans to increase its processing rate to 3.5 ex / s by the second quarter of 2022, or 19.5 Bitcoin mined per day.
  • Mawson plans to further increase its processing rate to 5 ex / s by the start of the first quarter of 2023, amassing 28 Bitcoin mined per day.
  • Mawson is fully funded for the journey to 5 ex / s.

Company footprint, ESG strategy and mining pipeline:

  • Mawson currently has operations in 4 locations. Its flagship operation is located in Georgia, while the other projects are located in Australia, Nebraska and Pennsylvania. Hughes-Jones says there are potentially more to come.
  • Mawson contracted 220 megawatts of power. It bought 200 modular data centers, more than 100 transformers and 40,000 miners according to the CCO.
  • Mawson says he takes his environmental, social and corporate governance (ESG) seriously with 75% of his energy coming from non-carbon sources. The 25% fuel-based energy is offset by carbon offset credits. The company bought 22,000 tonnes of carbon credit in 2020.
  • Mawson has planted 25,000 trees to date and plans to plant 53,000 trees in 2022, for a total of 78,000.
  • Mawson sponsors schools in the Sandersville, Georgia area, as well as the Washington County Medical Center and Buhl Park (community center) in Pennsylvania.

Sources of energy:

  • Nuclear, hydro and wind power is used to power 75% of Mawson’s energy.
  • Its Georgia facility uses nuclear power from Plant Vogtle owned in part by Georgia Power Co. (NYSE: GPJA), which is owned by Southern Company (NYSE: SO).
  • Its facility in Pennsylvania is one mile from a nuclear power plant, the Shippingport Atomic Power Station, and Mawson uses 100% nuclear power in Pennsylvania.

For more on Mawson’s breakeven point, his plans for when all Bitcoin is mined, and what he says is a key metric to differentiate Bitcoin mining companies, check out Benzinga’s video.

The foregoing post was written and / or published as part of a collaboration between Benzinga’s internal sponsored content team and a Benzinga financial partner. While the article is not and should not be construed as editorial content, the Sponsored Content team works to ensure that all information contained in it is true and accurate to the best of their knowledge and ability. research. This content is for informational purposes only and is not intended to be investment advice.


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