A Recap of Mawson Infrastructure on Benzinga's All-Access Headline

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The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

Nick Hughes-Jones, Chief Commercial Officer (CCO) of Mawson Infrastructure Group Inc. MIGI joined Benzinga’s All-Access Show to discuss the company’s recent developments. 

The highlights of the interview are noted below: 

General: 

• Mawson Infrastructure is a digital asset company focused on Bitcoin mining. 
• Since its NASDAQ listing 2 months ago, it has amassed $45 million in funding and has reached a market capitalization of $800 million. 

Quarter Report: 

• In Q3 of 2021, Mawson has:
  • Recently reported earnings. 
  • Purchased 17,000 additional mining machines. 
  • Reached a hash processing rate of 0.8 exa hash per second (ex/s) in November. This allows it to mine 4.5 Bitcoin a day. 
  • Started the 100MW expansion of its mining facility in Sandersville, Georgia. 
  • Signed partnership with Quinbrook Infrastructure Partners — a green energy infrastructure fund. 
  • Signed a new 100 megawatt facility in Pennsylvania. 

Funding and Future Plans: 

• Mawson has raised a total of ~$120 million; 25% of the business is owned by the board and management; $37 million was raised in August 2021. 
• Mawson plans to increase its processing rate to 3.5 ex/s by Q2 of 2022, amounting to 19.5 Bitcoin mined per day. 
• Mawson plans to further increase its processing rate to 5 ex/s by early Q1 2023, amassing 28 Bitcoin mined per day. 
• Mawson is fully funded for the pathway to 5 ex/s.

Company Footprint, ESG Strategy and Mining Pipeline:

• Mawson currently has operations in 4 locations. Its flagship operation is in Georgia, while the remaining projects are in Australia, Nebraska and Pennsylvania. Hughes-Jones claims there are potentially more coming. 
• Mawson has 220 megawatts of energy contracted. It has purchased 200 modular data centers, over 100 transformers and 40,000 miners according to the CCO. 
• Mawson says that it takes its environment, social and corporate (ESG) governance seriously with 75% of its energy from non-carbon-emitting sources. The 25% of fuel-based energy is countered with carbon-offset credits. The company has purchased 22,000 tonnes of carbon credit in 2020. 
• Mawson has planted 25,000 trees to date and plans to plant 53,000 trees in 2022, for a total of 78,000. 
• Mawson sponsors schools in the Sandersville, Georgia, area, as well as the Washington County Medical Centre, and Buhl Park (community centre) in Pennsylvania.

Energy Sources:

• Nuclear, hydro and wind power are used to fuel 75% of Mawson’s energy. 
• Its Georgia facility uses nuclear power from Plant Vogtle owned in part by Georgia Power Co. GPJA, which is owned by Southern Co. SO.
• Its Pennsylvania facility is 1 mile away from a nuclear power plant, the Shippingport Atomic Power Station, and Mawson uses 100% nuclear energy in Pennsylvania.

To find out more about Mawson’s breakeven price point, its plans for when all Bitcoins are mined and what it says is a key metric to differentiate between Bitcoin mining companies, check out Benzinga’s video.

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.