Mawson Infrastructure Group announced on Monday that the company has secured a new mining site in Corning, Ohio. The bitcoin mining firm, on May 1, 2023, unveiled its plans to set up its miners at the new location by Q3 of this year, with an aim to raise the operation’s hashpower 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 it has signed an agreement for a new site in Ohio. This development comes on the heels of the company’s prior ventures in Pennsylvania and the decision to pull out of Australia.
The new mining site, located in Ohio, is expected to offer a starting capacity of 24 MW. Mawson, however, anticipates expanding its operations to harness an additional 26 MW of power, effectively bringing the total capacity of the site to 50 MW.
The mining company disclosed it already operates 240 MW of capacity in the surrounding area. “We are very excited to have finalized this new site acquisition. The addition of this site to our portfolio of assets in the region is a great achievement by the team reinforcing our revised strategy of focus in the PA/OH region,” Mawson’s CEO, James Manning commented.
Despite the expansion news, Mawson’s publicly-listed shares (Nasdaq: MIGI) have experienced a 5% drop in the last 24 hours and a 1.97% decline over the last month. Nonetheless, the statistics of the past six months reveal an upward trend in MIGI shares by 11.26%, and year-to-date, the shares have increased more than 107%.
Mawson’s initial plan for the Corning facility is to house 12 mobile data center (MDC) units and 7,056 miners. Both hosted and self-hosted machines will be deployed at the new mining location. Just prior to the Ohio announcement, in April, Mawson sold its Greenfield Texas sites for $8.5 million.
What do you think the future holds for Mawson Infrastructure Group’s expansion plans in the PA/OH region? Share your thoughts about this subject in the comments section below.