Mawson Infrastructure Group Announces Monthly Operational Update For September 2024; Revenue Up 65% YoY To About $4.15M; Energy Management Revenue Up 271% YoY To $0.62M And Self-Mining Bitcoin Monthly Business Revenue Of $0.18M

Total Monthly Revenue up 65% Y/Y from September 2023

 

Energy Management Revenue up 271% Y/Y from September 2023

Digital Colocation Business Grows to Multi-Million Dollar Monthly Revenue in one year, up from zero in September 2023, with diversified enterprise-grade customer base

Phase 1 of construction completed at Ohio Facility, expected to increase Mawson's Total Capacity to 153 MW upon full completion

MIDLAND, Pa., Oct. 17, 2024 (GLOBE NEWSWIRE) -- Mawson Infrastructure Group Inc. (NASDAQ:MIGI) ("Mawson" or "the Company"), a publicly-traded technology company focused on digital infrastructure platforms for artificial intelligence (AI), high-performance computing (HPC), and digital assets markets, today announced its unaudited business and operational update for September 2024.

Rahul Mewawalla, CEO and President said, "We are excited to achieve another month of strong results, including a 65% year-on-year increase in overall monthly business revenue. In addition, we have built and grown a significant enterprise-grade digital colocation business that now represents a multi-million-dollar business across multiple customers. We also are excited about advancing our recent expansion into AI (artificial intelligence) and HPC (high-performance computing) markets with our innovative and solutions-driven approach to growing our overall business. We are also extremely proud of our carbon-free and sustainable energy approach, including nuclear, which we believe will be increasingly critical to sustainable growth in global compute capacity, particularly in the AI and HPC markets going forward."

Unaudited financial and operational highlights for September 2024:

• Total Monthly Revenue up 65% Y/Y from September 2023 to about $4.15 million.
• Digital Colocation Monthly Business Revenue was $3.36 million, up from zero in Sep 2023 with diversified enterprise-grade customers.
• Energy Management Monthly Business Revenue up 271% Y/Y to $0.62 million and Self-mining Bitcoin Monthly Business Revenue of $0.18 million.
• Signed lease extension at Midland, PA. facility to September 2027 with overall lease tenure through September 2036.
• Completed Phase 1 of construction including groundworks at Perry County, OH facility, which is expected to increase Mawson's Total Capacity to 153 MW upon completion.
  • Mawson supports innovative, agile, efficient, and scalable approaches to AI infrastructure and compute, invites AI/HPC partners to discuss opportunities to collaborate on artificial intelligence, high-performance and accelerated computing solutions.