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Mawson Infrastructure Group Inc. Announces Participation in Metro Connect USA 2025
Globenewswire· 2025-02-24 11:00
Core Viewpoint - Mawson Infrastructure Group Inc. is participating in Metro Connect USA 2025, highlighting its focus on digital infrastructure for AI, HPC, and digital assets [1][3]. Group 1: Company Overview - Mawson Infrastructure Group (NASDAQ: MIGI) specializes in next-generation infrastructure platforms for AI, HPC, and digital assets, utilizing a carbon-free energy approach [5]. - The company aims to optimize digital infrastructure to accelerate the digital economy [5]. Group 2: Event Participation - Metro Connect USA 2025 is the largest event for digital infrastructure leaders, attracting over 2,500 participants from various sectors including private equity, investment banks, and industry experts [2]. - The event serves as a platform for transformative business growth in the digital era [2]. Group 3: Leadership Insights - CEO Rahul Mewawalla expressed enthusiasm for participating in Metro Connect USA, emphasizing the importance of innovation and collaboration with institutional investors, analysts, and partners [3]. - Mewawalla noted that the growth of compute applications in AI, HPC, and digital assets is expected to drive overall technology industry growth [3].
Mawson Infrastructure Group Releases Updated Company Presentation – 136% Y/Y Revenue Growth in Digital Colocation Business, 36% Y/Y Revenue Growth in Total Revenue, and 31% Y/Y Operating Hash Rate Growth
Globenewswire· 2025-01-27 12:35
Core Insights - Mawson Infrastructure Group Inc. reported a transformational year with robust revenue growth and strategic achievements, including a 136% year-over-year increase in digital colocation revenue and a total revenue growth of 36% year-over-year [3][5]. Financial Performance - The digital colocation business experienced a 136% year-over-year revenue growth [5]. - Total revenue increased by 36% year-over-year, driven by an optimized revenue mix across digital colocation, energy management, and digital assets mining [5]. - The company achieved positive cash flows from operations [5]. Operational Expansion - Mawson expanded its digital colocation business, becoming one of the largest among publicly-traded peers, with a current operating capacity of 129 MW and plans to expand to 153 MW upon completion of the Ohio facility [5]. - The operating hash rate increased by 31% year-over-year to 4.98 EH/s [5]. Strategic Developments - Mawson signed an AI/HPC colocation business agreement for an initial deployment of 20 MW using NVIDIA GPUs, with a letter of intent for potential expansion to 144 MW [5]. - The company enhanced its leadership team with expertise from major technology firms such as Apple, T-Mobile, and Nokia [5]. Industry Recognition - Mawson was invited to ring the NASDAQ Closing Bell, highlighting its accomplishments and innovative approach to digital infrastructure [5]. - The company received coverage from prominent financial media and industry publications, including Financial Times, Reuters, and Forbes [5].
Mawson Infrastructure Group Inc. Appoints William C. Regan as Chief Financial Officer
Globenewswire· 2025-01-17 22:15
Company Announcement - Mawson Infrastructure Group Inc (NASDAQ: MIGI) appointed William C Regan as Chief Financial Officer effective January 17, 2025 [1] - William Regan joined the company in 2024 as Deputy CFO and brings 40 years of finance and accounting experience, including 25 years at public companies and 10 years at technology companies [2] - Previous CFO William "Sandy" Harrison stepped down to spend more time with family but will continue as Senior Advisor [2] Business Performance - The company achieved robust year-on-year and monthly revenue growth in its digital colocation business [2] - Mawson acquired and signed several enterprise-grade customers, becoming one of the largest digital colocation businesses among publicly-traded peers [2] - The company expanded into new market offerings including AI and high-performance computing [2] Strategic Development - Mawson hired leadership talent from major tech companies including Amazon Web Services and Apple [2] - The company enhanced its strategic, technological and operational capabilities [2] - Mawson received media coverage in Financial Times, Reuters, Newsweek, Forbes, and Fast Company for its innovative approach to digital infrastructure [2] Company Overview - Mawson Infrastructure Group provides digital infrastructure platforms for AI, high-performance computing, and digital assets markets [3] - The company's platforms support computing resources for various applications across digital assets, AI, HPC, and other computing fields [3] - Mawson prioritizes using carbon-free energy sources, including nuclear energy, to power its digital infrastructure platforms [3] Leadership Background - William Regan previously held CFO and senior finance positions at Everything Blockchain, Rentech, National Golf Properties, Digital Insight Corporation, and DTS Digital Cinema [2] - Regan holds a Bachelor's degree in Business Administration - Accounting from California State Polytechnic University, Pomona and is a Certified Public Accountant (inactive) [2]
Mawson Infrastructure Group Inc. Announces Monthly Operational Update for December 2024
Globenewswire· 2025-01-14 12:30
Core Insights - Mawson Infrastructure Group Inc. reported a significant growth in its digital colocation monthly revenue, which increased by 69% year-over-year to approximately $4.49 million in December 2024, up from $2.66 million in December 2023 [5] - The company’s total current operating hash rate is about 4.98 EH/s, with expectations to grow to approximately 5.10 EH/s due to new developments announced in early January 2025 [5][3] - Mawson has signed a new 20 MW digital asset colocation agreement with a NASDAQ-listed enterprise-grade customer, further solidifying its position in the digital infrastructure market [5][2] Financial Performance - Digital colocation monthly revenue rose 69% year-over-year and 8% month-over-month, from $4.18 million in November 2024 [5] - Total monthly revenue increased by 7% month-over-month to about $5.26 million from $4.9 million in November 2024 [5] - Monthly energy management business revenue grew by 25% month-over-month, reaching $0.41 million in December 2024 [5] Operational Developments - Mawson's total operating capacity is currently 129 MW, expected to increase to 153 MW upon the completion of its Ohio facility later in 2025 [5][3] - The company plans to operate and manage approximately 41,500 miners following the completion of its new deployment [5] - Mawson is actively seeking collaborations with companies in the AI and HPC ecosystem to enhance its digital infrastructure offerings [5] Strategic Initiatives - The company has made significant advancements in its technological and operational capabilities throughout 2024 and early 2025, positioning itself as a leader in the digital colocation space [2] - Mawson has expanded its market offerings to include artificial intelligence and high-performance computing, in addition to digital assets [2] - The company has onboarded leaders with expertise from major technology firms, enhancing its operational expertise [2]
Mawson Infrastructure Group Inc. Executes New Customer Agreement Growing and Expanding Digital Colocation Business
Globenewswire· 2025-01-07 12:30
Core Insights - Mawson Infrastructure Group Inc. has signed a new digital colocation customer agreement with a NASDAQ-listed company, enhancing its digital infrastructure services [1][2][3] - The agreement involves providing colocation services for 5,880 miners, equating to approximately 20 MW of capacity, with an initial term of 12 months and potential for extension [2][3] - This agreement is part of Mawson's strategy to optimize its digital infrastructure assets and positions the company as a leading provider in the PJM market, North America's largest competitive power market [3][4] Company Growth and Capacity - Following the new agreement, Mawson expects to manage approximately 41,508 miners and achieve a total operating hashrate of about 5.10 exahashes per second (EH/s) across its facilities [4] - The company is developing an additional site in Ohio, which is projected to add 24 MW to its current operating capacity of 129 MW, bringing the total to 153 MW upon completion [5] Business Strategy - Mawson focuses on providing digital infrastructure platforms for AI, high-performance computing (HPC), and digital assets, aiming to accelerate the digital economy [6] - The company prioritizes the use of carbon-free energy sources, including nuclear energy, to power its digital infrastructure [6]
Mawson Infrastructure Group Inc. Responds to Recent Report
GlobeNewswire News Room· 2024-12-04 21:40
Core Viewpoint - Mawson Infrastructure Group, Inc. has clarified that it has not filed for voluntary Chapter 11 bankruptcy, contrary to earlier media reports, but is facing an involuntary Chapter 11 petition filed by entities in Australia [1][2]. Group 1: Legal Proceedings - The involuntary Chapter 11 petition was filed by W Capital Advisors Pty Ltd and Marshall Investments MIG Pty Ltd against Mawson, although the company has not yet been formally served [2]. - Mawson's Board of Directors plans to vigorously defend against the involuntary petition if served, and the company intends to continue its operations as usual [2]. - Mawson has expressed concerns regarding the relationship between W Capital Advisors and James Manning, a former board director, and has not received satisfactory responses to these concerns [3]. Group 2: Investigations and Complaints - James Manning is under investigation by Mawson's Audit Committee for his dealings with W Capital Advisors, including ongoing litigation with Vertua Property Inc. related to self-dealing and breach of contract [4]. - Mawson has filed a complaint against Vertua for breach of lease and tortious interference, seeking reinstatement of the lease and damages [6]. - The company believes that the legal actions taken by W Capital Advisors and Marshall Investments are attempts to gain leverage in ongoing disputes [7]. Group 3: Business Operations - Mawson operates digital infrastructure platforms focused on AI, high-performance computing, and digital assets, and has a strategy to utilize carbon-free energy sources [9]. - The company has indicated a potential exit from its entities and holdings in Australia, as it currently has no operating sites or assets in that region [8].
Mawson Infrastructure Group Inc. Announces Monthly Operational Update for October 2024
GlobeNewswire News Room· 2024-11-20 12:30
Core Insights - Mawson Infrastructure Group Inc. reported a total monthly revenue increase of 49% year-over-year and 18% month-over-month, reaching approximately $4.89 million in October 2024 [1][3][2] Revenue Breakdown - Digital Colocation Monthly Revenue was $3.96 million, significantly up from $0.08 million in October 2023, marking a multi-fold increase year-over-year and an 18% increase month-over-month [3] - Energy Management Monthly Revenue reached $0.70 million, reflecting a 13% increase month-over-month from September 2024 [3] - Self-mining Digital Assets Mining Monthly Revenue was $0.22 million, showing a 25% increase month-over-month from September 2024 [3] Strategic Focus - The company emphasizes its innovative approach to providing digital infrastructure platforms and solutions, aiming to support AI infrastructure and high-performance computing [2][5] - Mawson invites partnerships in AI and HPC to explore collaborative opportunities in accelerated computing solutions [3] Upcoming Events - Mawson's CEO, Rahul Mewawalla, is scheduled to participate in several upcoming conferences, including the Roth 13th Annual Technology Conference and the Axios AI Summit [4]
Mawson Infrastructure Group Inc. to Present at Roth 13th Annual Technology Conference
GlobeNewswire News Room· 2024-11-19 14:12
Core Viewpoint - Mawson Infrastructure Group Inc. is actively participating in the Roth 13th Annual Technology Conference to discuss its business strategy and recent developments in the digital infrastructure sector focused on AI, HPC, and digital assets [1][2]. Company Overview - Mawson Infrastructure Group (NASDAQ: MIGI) is a technology company that specializes in next-generation infrastructure platforms for artificial intelligence, high-performance computing, and digital assets [3]. - The company emphasizes its innovation, technology, and operational expertise to optimize digital infrastructure, aiming to accelerate the digital economy with a focus on a carbon-free energy approach [3]. Conference Participation - CEO Rahul Mewawalla and the leadership team will engage in one-on-one and small group meetings with investors during the conference, which features over 100 growth companies in the technology sector [2]. - The discussions will center around Mawson's business strategy and recent developments, highlighting the company's commitment to investor relations [2].
Mawson Infrastructure Group Inc. Reports Q3 2024 Unaudited Financial Results
GlobeNewswire News Room· 2024-11-14 13:30
Core Insights - Mawson Infrastructure Group Inc. reported a significant increase in revenue across its digital colocation and energy management businesses, with a 222% year-over-year growth in digital colocation and a 33% year-over-year growth in energy management [1][2][3] - The company's total revenue increased by 50% year-to-date for the first nine months of 2024, with a total revenue of $12.32 million in Q3 2024, reflecting a 9% year-over-year increase [1][3] Financial Performance - Q3 2024 digital colocation business revenue reached $9.52 million, marking a 222% increase year-over-year [3] - Energy management business revenue for Q3 2024 was $1.96 million, a 33% increase year-over-year [3] - Digital assets mining revenue for Q3 2024 was $0.83 million [3] - Total revenue for the first nine months of 2024 increased by 50% year-to-date [3] Strategic Developments - The company is expanding its offerings into artificial intelligence (AI) and high-performance computing (HPC) markets [2][3] - Mawson signed a 20 MW agreement to colocate NVIDIA GPUs, which could generate approximately $92 million in the first two years and a cumulative revenue potential of $285 million over the six-year contract term [3] - The company has extended its lease for Perry County, Ohio, for a total of 24 MW and completed Phase 1 construction, advancing toward a total planned capacity of 153 MW [3] Operational Highlights - Mawson's current operating capacity is 129 MW, with plans to increase to 153 MW upon completion of ongoing projects [2][3] - The company emphasizes a carbon-free and sustainable energy approach, including the use of nuclear power, to meet the compute capacity needs of enterprise customers [2]
Mawson Infrastructure Group Inc. Announces Monthly Operational Update for September 2024
GlobeNewswire News Room· 2024-10-17 12:45
Core Insights - Mawson Infrastructure Group Inc. reported a 65% year-on-year increase in total monthly revenue, reaching approximately $4.15 million in September 2024 [3] - The company has successfully developed a digital colocation business that generated $3.36 million in monthly revenue, a significant growth from zero in September 2023 [3] - Energy management revenue saw a remarkable increase of 271% year-on-year, amounting to $0.62 million [3] - Mawson completed Phase 1 of construction at its Ohio facility, which is expected to boost total capacity to 153 MW upon full completion [3] Financial Performance - Total monthly revenue increased by 65% year-on-year to about $4.15 million [3] - Digital colocation monthly business revenue reached $3.36 million, up from zero in September 2023, indicating a diversified enterprise-grade customer base [3] - Energy management monthly business revenue rose by 271% year-on-year to $0.62 million, alongside self-mining Bitcoin revenue of $0.18 million [3] Operational Developments - Mawson signed a lease extension for its Midland, PA facility, extending the lease to September 2027 with an overall tenure through September 2036 [3] - The company completed Phase 1 of construction at its Perry County, OH facility, which is anticipated to increase total capacity to 153 MW upon completion [3] - Mawson is actively seeking partnerships in AI and HPC markets to enhance its infrastructure and computing solutions [3][2] Strategic Focus - The company emphasizes a carbon-free and sustainable energy approach, including nuclear energy, which is deemed critical for sustainable growth in AI and HPC markets [2] - Mawson is focused on innovative and solutions-driven strategies to expand its presence in the AI and HPC sectors [2]