Mawson Infrastructure Group To Acquire New 24MW Site In Ohio, Expands Potential Capacity To 290MW

Mawson Infrastructure Group Inc. MIGI announced that it has entered into agreements for a new site in Corning, Ohio, with an initial capacity of 24MW. Mawson expects that the site has an additional 26MW of potential capacity upside, taking the total site to 50MW, subject to further infrastructure investment. The site has been signed on a long-term lease.

Aerial view of the substation at Corning, Ohio (Photo: Business Wire)

The site will be a welcome addition to the existing 240MW of capacity that Mawson has online and under development in the surrounding area. It is intended that the site will be online to the full initial 24MW capacity in Q3, providing a possible increase in deployable hashrate of up to 1.0EH.

Mawson expects the site to initially host 12 MDCs and 7,056 miners. Mawson expects to have a mixture of self-mining and hosting on-site but will make a further decision on the breakdown closer to energization.

James Manning, CEO, commented, "We are very excited to have finalized this new site acquisition. The addition of this site to our portfolio of assets in the region is a great achievement by the team, reinforcing our revised strategy of focus in the PA/OH region. This is the first of several smaller sites the Mawson team has been working on, with a focus to deploy low-cost, quick-to-market mining facilities."

Liam Wilson, COO, commented, "With the addition of this third site, Mawson has also begun the process of researching and testing the latest generation of ASIC hardware. We are actively planning for the halving event, and plan to have the most efficient fleet possible – as always, focusing on shareholders' return on capital. We are focused on this region for various reasons and look forward to seeing which ASIC units perform best before ordering in bulk."

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