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Big Digital Energy, Inc., formerly Mawson Infrastructure Group Inc., reports developments tied to its U.S. digital infrastructure business. The company designs, builds, and operates platforms for artificial intelligence, high performance computing, digital assets including Bitcoin mining, and other intensive compute applications, using a model that includes self-mining and colocation or hosting for enterprise customers.
Recurring news themes include colocation agreements, the company’s strategic shift toward AI and HPC workloads, operating and financial results, Nasdaq and capital-structure updates, board and governance changes, stockholder-rights matters, and litigation or bankruptcy-related proceedings that affect corporate liabilities and oversight.
Mawson Infrastructure Group (NASDAQ:MIGI) reported strong Q2 2022 financial results with revenue of $19.8 million, a 236% increase from Q2 2021. Non-GAAP EBITDA surged 756% to $13.7 million. The company produced 490 self-mined Bitcoin, up 286% year-over-year. Gross profit remained flat at $5.4 million. Mawson is expanding its mining facilities, including a 230-megawatt expansion in Georgia and a 120-megawatt Texas facility in partnership with Texas Pacific Land Corporation (NASDAQ: TPL), enhancing its operational capacity substantially.
Mawson Infrastructure Group (NASDAQ:MIGI) has scheduled a webcast for August 22, 2022 at 5:30 p.m. Eastern Time to discuss its second-quarter results. An Investor Presentation will be available before the call on its website. U.S. callers can dial 1-877-407-4018, while international callers can reach 1-201-689-8471, referencing Conference ID 13731984. The call will also be accessible live via webcast. A replay will be available from August 22, 2022, at 8:30 p.m. ET until September 5, 2022.
Mawson Infrastructure Group (NASDAQ:MIGI) reported a significant increase in Bitcoin production for June 2022, producing 127 Self-Mined Bitcoin, up 140% compared to June 2021. The company’s Self-Mining and Hosting Co-location capacity rose to approximately 3.1 Exahash, expected to increase to 3.5 Exahash by the end of July. Mawson has over 40,000 ASIC Bitcoin Miners deployed. In July, the company strengthened its balance sheet with $10 million in new capital, crucial due to the Chapter 11 filing of its major hosting customer, Celsius Mining LLC.
Mawson Infrastructure Group (NASDAQ:MIGI) has completed a $6.4 million registered direct offering, issuing 8,000,000 shares at $0.80 each along with warrants for 10,000,000 shares at an exercise price of $1.01. The offering aims to bolster Mawson's digital infrastructure and support general corporate purposes. H.C. Wainwright & Co. acted as the placement agent. The warrants are exercisable six months post-issuance and expire in five and a half years. The funds are designated for infrastructure expansion, strategic transactions, and working capital.
Mawson Infrastructure Group Inc. (NASDAQ:MIGI) announced a $6.4 million registered direct offering of 8,000,000 shares at $0.80 each, along with warrants to purchase 10,000,000 additional shares at an exercise price of $1.01. The offering is expected to close around July 20, 2022. The proceeds will be utilized to enhance digital infrastructure, engage in potential strategic transactions, and cover general corporate expenses. H.C. Wainwright & Co. is serving as the exclusive placement agent for this offering.
Mawson Infrastructure Group (NASDAQ:MIGI) is actively participating in energy demand response programs, generating revenue while reducing operating costs. The company has received the final shipment of ASIC Bitcoin miners and will not incur further payments for deliveries. Mawson's hosting co-location services with Celsius Mining LLC continue to perform well. In light of current market volatility, Mawson has chosen to defer major capital expenditures until conditions improve, while consistently selling self-mined Bitcoin.
Mawson Infrastructure Group (NASDAQ:MIGI) reported record Bitcoin production in May 2022, mining 185 Bitcoin, a 362% increase from May 2021 and 8% higher than April 2022. The company's Self-Mining and Hosting Co-location operations are now running at approximately 3.10 Exahash, with expectations to rise to 3.35 Exahash by the end of June 2022. Mawson's total deployed ASIC miners increased to 40,000, marking an 11% month-on-month growth. The company aims for a 4.00 Exahash self-mining rate by Q3 2022.
Mawson Infrastructure Group (NASDAQ:MIGI) has received its final shipment of A1246 ASIC Bitcoin Miners from Canaan, enhancing its operational capacity. The company now operates approximately 40,000 miners with a total output of around 3.1 Exahash, anticipated to increase to 3.35 Exahash by the end of June. Mawson's Australian facility will be fully operational soon, contributing 0.4 Exahash and producing 1.7 Bitcoin daily. Additionally, Mawson has acquired a 33% stake in Tasmania Data Infrastructure by trading miners, positioning itself strategically in the market for future purchases.
Mawson Infrastructure Group (NASDAQ:MIGI) has announced the listing of the Cosmos-Purpose Ethereum Access ETF (CPET), which launched in May 2022. This ETF holds units in the Purpose Ethereum ETF, with approximately US$430 million in assets under management, providing investors regulated access to Ethereum. The partnership includes Purpose Investments and Gemini Trust Company as the custodian. Mawson remains Cosmos’ largest shareholder, emphasizing its role in promoting digital infrastructure and ESG-focused Bitcoin mining.
Mawson Infrastructure Group (NASDAQ:MIGI) has announced its investment in Tasmania Data Infrastructure Pty Ltd (TDI), becoming a 33% shareholder. TDI is developing a large-scale Bitcoin mining facility powered by 100% renewable energy at the Que River Mine Site in Tasmania, capable of up to 35 megawatts of energy initially, with expansion potential exceeding 100 megawatts. Mawson has exchanged approximately 1975 ASIC Bitcoin miners for its equity position and will host up to 10MW of its own mining capacity at the site. The financial impact will be included in Q2 2022 results.