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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.
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Mawson Infrastructure Group Inc. (NASDAQ: MIGI) has successfully completed the sale of its greenfield sites in Midland, TX for $8.5 million in cash and stablecoins, effective April 18, 2023. This transaction includes the sale of 100% of its subsidiary, Luna Squares Texas LLC, and 59 transformers. The proceeds will be allocated to debt reduction and expansion of operations in Pennsylvania, where Mawson currently operates 240 MW of facilities. The company aims to increase its capacity to 132 MW by Q2 2023, potentially generating up to $120 million in annual revenue, split between Mawson and its hosting clients. CEO James Manning emphasized the positive impact of this sale on Mawson's operational focus and financial health.
Mawson Infrastructure Group (NASDAQ:MIGI) announced its operational update for March 2023, reporting an installed capacity of approximately 50 MW across its Bitcoin self-mining and hosting operations. The company generated $2.65 million in revenue from self-mining ($1 million), hosting customers ($1.55 million), and its energy market program ($0.09 million). Notably, Mawson produced 42.97 BTC and achieved a revenue equivalent in BTC of 109.04. The company is in the final stages of commissioning a 120 MW site expansion in Midland, PA, aiming for significant growth in its Bitcoin operations, with a target of 4.5 Exahash by early Q2 2023 and 8.0 Exahash by Q4 2023.