2 years ago
Mawson Infrastructure Group, a publicly-listed bitcoin mining operation, announced connected Thursday that it has acquired a caller mining tract successful Bellefonte, Pennsylvania. The institution elaborate that it has swiftly deployed 2,600 bitcoin miners astatine the location.
Mawson Secures Pennsylvania Site, Deploys 2,600 Bitcoin Miners for Self-Mining Operations
Bitcoin mining companies are experiencing ongoing enlargement successful 2023. This week, Mawson Infrastructure Group (NASDAQ: MIGI) disclosed the acquisition of a caller mining tract successful Bellefonte, Pennsylvania. Mawson has already initiated mining operations successful Pennsylvania, having announced the commencement of operation astatine a caller tract successful Sharon successful February. On Thursday, Mawson revealed the signing of a caller semipermanent lease statement for the caller undertaking successful Bellefonte.
At present, the Bellefonte installation is powered by 8 megawatts (MW) of electricity, with 2,600 miners already operational. The recently launched determination volition relation arsenic a afloat self-mining facility, with a imaginable capableness of up to 24 MW. Mawson revealed that upon the completion of the expansion, the caller information halfway volition beryllium capable to accommodate 7,200 bitcoin mining machines.
“This installation is an perfect accidental for Mawson to proceed to efficiently ramp our self-mining operations to summation bitcoin production,” Mawson’s CEO and president Rahul Mewawalla stated connected Thursday. “This caller tract furthers Mawson’s absorption connected maturation successful markets wherever the vigor mix, unafraid grid, favorable climate, robust communities, and section endowment proceed to beryllium cardinal drivers of our continued expansion.”
Shares of MIGI roseate 1.96% connected Thursday; however, they person declined by 20% implicit the past month. The six-month terms statistic bespeak a alteration of much than 7%, portion the banal has experienced a important diminution of 69% implicit the past 12 months. In 2023, Bitcoin’s hashrate reached caller heights, acknowledgment to the instauration of much businesslike mining rigs, the motorboat of galore next-generation miners by various firms, and the expansion of companies into caller territories. In May, Mawson announced its enlargement to Corning, Ohio, which added an further 1 exahash per 2nd (EH/s) to its mining fleet.
What are your thoughts connected Mawson Infrastructure Group’s expansion? Share your thoughts and opinions astir this taxable successful the comments conception below.
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