Mawson Infrastructure Group (MIGI) Provides Monthly Operational Update for July 2023
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E-mailMawson Infrastructure Group Inc. (NASDAQ: MIGI) (“Mawson” or the “Company”), a digital infrastructure company, announced today its unaudited business and operational update for July 2023.
Rahul Mewawalla, CEO and President, commented, “During July, we continued to optimize our self-mining capabilities and throughput by enhancing our operational structure along with increased emphasis on our hardware management and miner management software analysis and enhancements. Our uptime and miner performance has been robust despite the increased summer temperatures. Interest from potential hosting customers has also been positive given our sites being strategically located in the desirable PJM power market. Operational focus, information systems, competitive power, strategically located sites, and Mawson’s capabilities to adapt to market dynamics are amongst the Company’s growing competitive advantages.”
2023 Strategic Focus
Mawson looks to continue to drive growth in 2023 through:
- Exploring expansion opportunities in the PJM energy markets, especially in Pennsylvania and Ohio.
- Continue to secure a portfolio of sites in its preferred geographies and markets for long-term digital infrastructure capacity.
- Continue participation in the Energy Markets Program which generates additional revenue.
- Develop strategic partnerships and commercial relationships within industry ecosystem.
- Drive a diversified revenue mix of self-mining, hosting, and energy markets participation.
- Continue drive towards our “Operational Excellence” management approach.
June Bitcoin Self-Mining, Energy Market Program & Hosting Co-location Results Update1:
| May | June | July | July Variance |
Total Revenue Equivalent in BTC 3 | 127 | 132 | 163 | +23% |
Total Self-Mining BTC | 67 | 71 | 69 | -2.8% |
Total Installed2 Self-Miners | 13,750 | 16,350 | 16,350 | - |
Total Available Owned Miners | 20,000 | 20,000 | 20,000 | - |
Total Power Online | 88 MW | 96 MW | 96 MW | - |
- Total Revenue equivalent in BTC:1633
- Total Self-Mining Bitcoin Production: 69
- Approximately $4.89M in Monthly Revenue for July 2023
- Self-Mining Monthly Revenue: $2.07M
- Hosting Co-location Monthly Revenue: $1.78M
- Energy Market Program Monthly Revenue: approximately $1.04M
- Total Power Online: 96MW
- Total revenue in BTC equivalent increased 23% M/M
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