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The expansion of Mawson Infrastructure Group to a new bitcoin mining facility in Ohio includes plans to increase hashpower by 1 EH/s.

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The expansion of Mawson Infrastructure Group to a new bitcoin mining facility in Ohio includes plans to increase hashpower by 1 EH/s.



The company has acquired a new mining site near Corning, Ohio, according to a Monday announcement by Mawson Infrastructure Group. On May 1, 2023, the bitcoin mining company announced its plans to install its equipment at the new site by Q3 of this year in order to increase the operation's hashpower by 1 exahash per second (EH/s).

Bitcoin Miner Mawson Purchases 24 MW with Room for Growth

Mawson Infrastructure Group announced it had inked an agreement for a new site in Ohio on May 1, 2023. This development follows the company's earlier forays into Pennsylvania and its choice to leave Australia.

A starting capacity of 24 MW is anticipated for the new mining location in Ohio. However, Mawson plans to expand its operations to generate an additional 26 MW of electricity, effectively raising the site's total capacity to 50 MW.

The mining company said that it already has 240 MW of operating capacity in the neighborhood. "We are overjoyed to have completed the acquisition of this new site. The team's tremendous accomplishment in adding this location to our portfolio of regional properties strengthens our updated plan for concentrating on the PA/OH region, according to Mawson's CEO James Manning.

The price of Mawson's publicly traded shares (Nasdaq: MIGI) has dropped 5% in the past day and 1.97% over the past month despite the expansion news. But according to statistics for the previous six months, MIGI shares have increased by 11.26%, and year to date, the shares have increased by more than 107%.

The Corning site is initially intended to hold 12 mobile data center (MDC) units and 7,056 miners, according to Mawson. At the new mining site, machines will be set up both hosted and self-hosted. Mawson sold its Greenfield Texas property in April, just before the Ohio news, for $8.5 million.

Article Credit: Bitcoin.com

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