Mawson Infrastructure Group In Stock Price, News & Analysis

Mawson Infrastructure Group (NASDAQ:MIGI) has completed the installation of two substation transformers at its Midland, PA site, doubling its operational capacity to 100 MW by Q2 2023. This expansion will allow the site to accommodate 29,400 miners and achieve a processing power of 3.5 EH/s. The company generated over $4 million in revenue in December through its current operations at 50 MW. Mawson aims to ramp up its Energy Markets Program with the new capacity, enhancing its market position in Bitcoin mining while adhering to carbon-free energy standards. This site is pivotal for Mawson's growth strategy and operational flexibility.

Mawson Infrastructure Group (NASDAQ:MIGI) has initiated construction on a new 120 MW Bitcoin mining facility in Sharon, PA. The first 12 MW is expected to go live in early Q2 2023, with additional capacity launching incrementally through 2023 and early 2024. The facility is designed to accommodate up to 35,280 ASIC miners, potentially generating 4.2 EH/s. Furthermore, Mawson’s operations will include self-mining and hosting services, participating in an Energy Markets Program for revenue generation during grid stress periods. Completion of this facility will boost Mawson's total capacity to 220 MW.

Mawson Infrastructure Group (NASDAQ:MIGI) announced that over 99% of stockholders voted in favor of a 1 for 6 reverse stock split and the reduction of authorized common stock from 120 million shares to 90 million. This decision is aimed at ensuring compliance with Nasdaq's minimum bid price of $1. More than 68% of shares participated in the vote. The reverse stock split is expected to take effect on February 9, 2023. CEO James Manning expressed gratitude for strong stockholder support and noted the anticipated positive impact on compliance and stock liquidity.

Mawson Infrastructure Group (NASDAQ: MIGI) reported its December 2022 operational update, showcasing an installed Bitcoin mining capacity of approximately 2.9 Exahash. The energy market program generated around $4 million in December, contributing to a total of $13.9 million for 2022. CEO James Manning noted that December production reached 261.83 BTC, largely benefitting from the energy program's success. The company is focused on expanding its capacity to 4.5 Exahash by the end of Q1 2023 and aims for 8.0 Exahash by Q4 2023. Mawson also completed the relocation of its Georgia hosting customer to its Midland, PA facility.

Mawson Infrastructure Group (NASDAQ:MIGI) reports an operational capacity of approximately 2.5 Exahash by the end of November, driven by Bitcoin Self-Mining and Hosting Co-location. In November, the company generated about $1.6 million from its Energy Market Program, totaling $9.9 million for 2022. The November Bitcoin production equaled 124 BTC, including 34 self-mined BTC. Mawson has initiated expansion plans for its Pennsylvania facilities, targeting a capacity increase to 4.5 Exahash by Q1 2023 and 8.0 Exahash by Q4 2023.

Mawson Infrastructure Group reported strong Q3 2022 results with $28.3 million in revenue, a 160% increase compared to Q3 2021. The company's gross profit rose to $10.1 million, up 20%, while non-GAAP EBITDA soared to $8.8 million, reflecting a 203% growth. Mawson sold its Georgia facility to CleanSpark Inc for approximately $40 million, expected to yield a $18 million profit. The company continues to expand its Pennsylvania facilities, aiming for an operational capacity of 8.0 Exahash by late 2023.

Mawson Infrastructure Group (NASDAQ:MIGI) will host a conference call on November 14, 2022, at 5:00 p.m. ET, to discuss its third-quarter 2022 results. A new Investor Presentation will be available on the company's website. U.S. callers can join by dialing 1-877-300-8521 and international callers can reach 1-412-317-6026, using conference ID 10172926. A replay will be accessible until November 28, 2022. Mawson focuses on sustainable energy infrastructure and Bitcoin mining, aiming to be a leader in the digital economy.

Mawson Infrastructure Group Inc. (NASDAQ:MIGI) reported an operational update for September 2022, highlighting a total Bitcoin production of 203, with 102 from self-mining and 101 from its Energy Market Program, generating approximately $2 million in revenue. The company’s installed operational capacity reached 3.7 Exahash. Additionally, the sale of its Georgia facility to CleanSpark Inc. (NASDAQ:CLSK) is expected to yield an unaudited profit of about $18 million, reinforcing Mawson's focus on expanding its Pennsylvania operations.

Mawson Infrastructure Group (NASDAQ:MIGI) announced the completion of its sale of the Sandersville, Georgia facility and up to 6,468 ASICs to CleanSpark (NASDAQ:CLSK) for approximately $40 million. This strategic move allows Mawson to focus on expansion in Pennsylvania, where it has secured low-cost energy for its Midland facility. The company anticipates a preliminary profit of around $18 million from the sale, impacting Q4 2022 earnings positively. Mawson expects its Self-Mining and Hosting Co-location capacity to reach 4.5 Exahash by Q1 2023 and 8.0 Exahash by Q4 2023.