Seeking Alpha
2022-10-18 14:21:45

Mawson Infrastructure mines 13% more bitcoins in September vs. August

Cryptocurrency miner Mawson Infrastructure Group (NASDAQ:MIGI) self-produced 102 bitcoins (BTC-USD) in September, up from 90 in August, it said Tuesday.It mining capacity of 1.7 exahash per second, though, stayed flat from the prior month.During the month, Mawson (MIGI) focused on the exit from its Sandersville, Georgia facility in a bid to refocus its expansion efforts at its Pennsylvania facilities, it said Tuesday. Specifically, Mawson (MIGI) completed the sale of certain assets at the Sandersville, Georgia facility to CleanSpark (CLSK) for ~$40.0M. MIGI expects to make an $18M profit from the sale in the fourth quarter. In Q4, MIGI said it will focus on its reduction of debt, relocate ASIC servers from Georgia to Pennsylvania, and explore opportunities to expand its mining business.In July, Mawson Infrastructure to raise $6.4M in stock and warrants offering.

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