Mawson Infrastructure Group Signs New Hosting Services Deal with Foundry Digital
Nicholas Otieno Mar 07, 2022 04:25
The deal demonstrates yet another step forward in Mawson's goal to become the world's biggest carbon neutral Bitcoin miner.
Mawson Infrastructure Group, an Australian Bitcoin miner, announced on Friday that it signed a 12 megawatt (MW) hosting co-location deal with the U.S. crypto mining services provider Foundry Digital.
The deal will bring Mawson’s crypto mining hosting co-location business to a total of 114 MW, an increase of 5,600% from 2 MW on December 31, 2021. Mawson expects the first mining hardware under the deal to be deployed by the end of Q1, 2022. The miner plans to deploy the mining hardware within its own proprietary Modular Data Centre (MDC) technology at its facilities in the US.
The new signing comes only two days after Mawson signed a 100 MW crypto-mining hosting agreement with Celsius Mining, a subsidiary of crypto lending firm Celsius Networks. Last Tuesday, Mawson signed its largest co-location customer for 100 MW with Celsius Mining.
James Manning, CEO and founder of Mawson, talked about the latest development and said: "in FY2021, we generated (unaudited) $850,000 in revenue from our 2 MW of hosting customers – the agreements we have signed this week take us to 114 MW in our hosting business in total. Our hosting business is expanding rapidly and total contracts signed to date makes us one of the largest Nasdaq listed Bitcoin mining ASIC hosting companies.”
Providing Customers with Access to New Digital Asset Products
Founded in 2019, Mawson Infrastructure Group continues to deliver new and innovative digital asset products to the global market.
Mawson is an Australia-based digital infrastructure provider specializing in cryptocurrency mining and digital asset management, with multiple operations throughout the USA and Australia.
The firm is emerging as a global leader in ESG-focused Bitcoin mining and digital infrastructure. In October last year, Mawson partnered with investment manager Quinbrook Infrastructure Partners in order to open a renewables-powered site in New South Wales, an Australian State. Mawson has identified renewable energy projects it plans to develop as part of its efforts to decarbonize the global society, with a key focus on sustainable Bitcoin mining.
Furthermore, last November, Mawson partnered with Cosmos Asset Management Pty Ltd to provide Australians with new investment opportunities in the growing digital asset ETF (exchange-traded fund) products.
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