Mawson Infrastructure Group Expands to New Bitcoin Mining Site in Ohio, Plans to Increase Hash Power by 1 EH/s CryptoBlog

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Mawson Infrastructure Group announced Monday that the company has secured a new mining site in Corning, Ohio. The Bitcoin mining company on May 1, 2023 unveiled its plans to set up its miners at the new location by the third quarter of this year, with the aim of increasing the hash power of the operation by 1 exahash per second (EH/s).

Bitcoin Miner Mawson Acquires 24 MW in Ohio with Room for Expansion

On May 1, 2023, Mawson Infrastructure Group revealed that it had signed an agreement for a new site in Ohio. This development follows the company’s previous plans in Pennsylvania and the decision to pull out of Australia.

The new mine site, located in Ohio, should offer a start-up capacity of 24 MW. Mawson, however, plans to expand its operations to harness an additional 26 MW of power, bringing the site’s total capacity to 50 MW.

The mining company revealed that it already operates 240 MW of capacity in the surrounding area. We are very pleased to have finalized this new site acquisition. The addition of this site to our portfolio of assets in the region is a great achievement from the team reinforcing our revised PA/OH region focus strategy, commented Mawson CEO James Manning.

Despite the expansion news, publicly traded shares of Mawson (Nasdaq:MIGI) are down 5% in the past 24 hours and down 1.97% in the past month. Nevertheless, the statistics for the past six months reveal an upward trend in MIGI shares of 11.26%, and since the beginning of the year, the shares have risen by more than 107%.

Mawson’s original plan for the Corning facility is to house 12 mobile data center (MDC) units and 7,056 miners. Hosted and self-hosted machines will be deployed at the new mine site. Just before Ohio’s announcement in April, Mawson sold its Greenfield Texas sites for $8.5 million.

Tags in this story Assets, Bitcoin, capacity, expansion, Hashpower, hosted miners, Mawson Infrastructure Group, mining, mobile data center, Ohio, Pennsylvania, self-hosted machines

What do you think the future holds for Mawson Infrastructure Group’s expansion plans in the PA/OH region? Share your thoughts on this topic in the comments section below.

Jamie Redman

Jamie Redman is the news manager for Bitcoin.com News and a fintech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written over 7,000 articles for Bitcoin.com News about disruptive protocols emerging today.

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