Mawson Reveals Record Self-Mined Bitcoin, Hosting Co-location And Operational Update And More For May 2022

Mawson Infrastructure Group Inc. MIGI announced its unaudited Bitcoin production and operational update for May 2022.

Mawson Self-Mining and Hosting Co-location operating at approximately 3.10 Exahash as at end of May, expected to rise to approximately 3.35 Exahash by end of June 2022.

Bitcoin Self-Mining Update:

  • In May Mawson produced a record 185 Bitcoin, +362% vs May 2021, and +8% month on month 
  • May average hash rate at approximately 1.42 Exahash, +547% vs May 2021, +11% month on month
  • May end of month hash rate at approximately 1.50 Exahash, +581% vs May 2021 
  • June end-of-month hash rate is expected to be approximately 2.00 Exahash, producing approximately 8.5 Bitcoin per day

Hosting Co-location Update:

  • Mawson Hosting Co-location at 56 megawatts online end of May (+100% vs April 2022), expected to rise to approximately 60 megawatts online by end of June (+7% vs May 2022), as Mawson’s hosting customers continue to be deployed, providing an additional revenue stream for the company over and above Mawson’s Bitcoin Self-Mining operations

Operational Update:

In May Mawson continued to build out and expand its existing and new facilities. ASIC Bitcoin miners continued to be delivered, with the final batch of Canaan A1246 miners received during the month, which will be deployed across the company’s operations in the coming months. Monthly Bitcoin production was up +8% vs April 2022, and up +362% vs May 2021. Mawson now has over 40,000 ASIC Bitcoin Miners deployed at its facilities across its Self-Mining and Hosting Co-location businesses, up from 36,000 in April 2022.

Midland, Pennsylvania facility: 25 Modular Data Centers (MDCs) and 50 megawatts deployed. This deployment was achieved in a record 6 weeks. 

Sandersville, Georgia facility: 38 Modular Data Centers (MDCs) deployed, site now fully operational at approximately 80 megawatts. Stage 3 expansion approved to 230 megawatts (capable of accommodating up to 7.5 Exahash) with development planning for expansion commencing in June 2022.

New South Wales, Australia facility: 4 Modular Data Centers (MDCs) deployed, with 0.20 Exahash online. The facility is expected to be fully operational with approximately 0.40 EH online by June 2022.

Texas facility: Site planning underway with 120 megawatts expected to be available in Q4, 2022.

Expected Self-Mining Hash Rate Growth:

Mawson expects Bitcoin Self-Mining to be at 4.00 EH by Q3, 2022, and target of 5.50 EH online by early Q1 2023 reiterated.

View of Midland, Pennsylvania facility development (May 2022)

View of Midland, Pennsylvania facility development (May 2022)

James Manning, CEO and Founder of Mawson, said, “May was another solid month of operational growth, with the Mawson team having now rapidly deployed more than 56 megawatts over the last 3 months. We have now received our final shipment of ASIC Bitcoin Miners for our Self-Mining business, meaning we have the flexibility to assess the spot market for future orders when appropriate.”

Featured image sourced from Pixabay

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