Is Mawson Infrastructure Group's Processing Capacity A Growing Challenge To Cryptocurrency Titans In 2022?

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As the cryptocurrency market takes a breather, long-term investors might be waiting for the opportune moment to “buy the dip,” or take advantage of a potentially temporary reduction in an asset’s price.

Of course, they can always buy Bitcoin BTC/USD, Ethereum ETH/USD, and Litecoin LTC/USD through cryptocurrency exchanges. But for investors who prefer to invest by proxy – through the stock of a crypto mining company, for example – there are several options to choose from.

Marathon Digital Holdings Inc. MARA, Hut 8 Mining Corp. HUT, and Riot Blockchain Inc. RIOT seem to capture most of the audience’s attention, but there are other options as well.

If you compare the processing capacities compared to market capitalizations of these cryptocurrency titans, you might find that Mawson Infrastructure Group Inc. MIGI is one example of a company that could give them a run for their money. 

An Overview of Processing Capacities and Market Capitalizations

As of Jan. 5, Riot Blockchain (RIOT) had a fleet of 29,593 mining machines deployed with a hash rate capacity of 3.1 exahash per second (EH/s). Because of a $301 million order for mining machines executed in December, the company expects to increase its fleet to approximately 120,150 Antminers by the fourth quarter of 2022. As a result, the company’s hashrate is expected to rise to 12.8 EH/s in 2022. RIOT’s market capitalization was at roughly $2.2 billion.

In comparison, as of Jan. 3, Marathon Digital Holdings (MARA) had a fleet of 30,391 Bitcoin miners with a hash capacity of 3.5 EH/s. MARA holds about $375.8 million worth of Bitcoin and, like RIOT, is looking to ramp up production in 2022. MARA expects to deploy all miners by early 2023, representing a fleet of 199,000 miners with an expected hashrate of 23.3 EH/s. Mara’s market capitalization was at roughly $2.7 billion. 

Finally, as of Jan. 5, the Hut 8 Mining (HUT) mining fleet held a processing capacity of 2.0 EH/s. The company expects that the construction of a new data center structure and a mining unit in North Bay will raise the company’s processing capacity to 3.35 EH/s by the end of the first quarter of 2022. HUT’s market capitalization was at roughly $1.34 billion. 

Is a Company Like Mawson An Alternative?

The company listed on the Nasdaq in the third quarter of 2021. It also reported a gross profit of $8.4 million, announced a new 100 megawatt (MW) facility in Pennsylvania, and purchased an additional 17,352 Bitcoin miners. With an additional order of 4,000 units expected at the end of 2021, the company upgraded guidance from 3 to 3.35 EH/s by the second quarter of 2022.

This processing capacity will place it ahead of RIOT’s current processing rate and would equal that of HUT. If these cryptocurrency titans don’t improve their processing rate before the second quarter, according to guidance reports, only MARA would employ a higher processing capacity than Mawson.

Click here to learn more about Mawson.

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