Mawson Infrastructure Group Signs Customer Co-Location Agreement

Mawson Infrastructure Group Inc. (MIGI) is excited to announce the signing of a co-location agreement between one of its wholly-owned subsidiaries and a subsidiary of Consensus Technology Group LLC. This partnership will allow Mawson to provide co-location services for around 15,876 Bitmain Antminer S19 XP miners, translating to approximately 50 MW at Mawson’s facilities in Midland, Pennsylvania.

The agreement, signed by both companies’ CEOs on October 12, 2023, stipulates that Consensus will supply the mining machines, which are capable of hashing at roughly 141 EH/s. Mawson will cover the power costs for the customer along with co-location service fees charged per MWh, as well as any additional fees and charges. The arrangement is set for 12 months, with the possibility of extension upon mutual consent. With this new customer on board, Mawson expects its Midland facilities to operate at full capacity of 100 MW, resulting in a total of approximately 32,930 miners when combining both self-mining and co-location fleets.

Rahul Mewawalla, Mawson’s CEO and President, expressed gratitude for the interest from various parties in utilizing their co-location services. He stated, “We are thrilled to welcome our newest co-location customer and are eager to expand our co-location business alongside our self-mining and energy management operations. The integration of the Bitmain Antminer S19 XP miners with our infrastructure is designed to foster a beneficial partnership for both parties.”

Beyond its Midland facilities, Mawson operates a site in Bellefonte, Pennsylvania, that is dedicated solely to self-mining. As of late September 2023, the Bellefonte facility has been running at around 8.8 MW of capacity, hosting approximately 2,545 self-miners. When combining both its self-mining and co-location setups, Mawson anticipates an overall capacity of about 109 MW, featuring around 35,480 miners and a total hashing capacity close to 3.7 EH/s.

Mr. Mewawalla further stated, “This new customer agreement and our ongoing discussions with multiple parties underscore the industry’s confidence in Mawson’s platforms. Executing this agreement is a significant milestone for the company and our stakeholders.”