NASDAQ Listed MIGI Boosts Bitcoin Self-Mining in July 2023 Operational Update

Jessie A Ellis  Aug 23, 2023 20:30  UTC 12:30

0 Min Read

Mawson Infrastructure Group Inc. (NASDAQ:MIGI), a leading figure in the digital infrastructure and Bitcoin mining landscape, has unveiled its unaudited business and operational update for July 2023.

Mawson Infrastructure Group (NASDAQ: MIGI) is not just a digital infrastructure company but a beacon in the Bitcoin and crypto industry across the USA. Their model, infused with AI-driven strategies, champions the global transition to the digital economy, with a pronounced focus on efficient Bitcoin production.

The company reported a significant 23% month-on-month surge in its "Total Revenue Equivalent in BTC", reaching a figure of 163. This showcases Mawson's growing footprint in the Bitcoin ecosystem. As of July 31, 2023, the company's operational capacity was approximately 96 Megawatts, supporting around 27,636 Bitcoin miners.

Rahul Mewawalla, the CEO and President of Mawson, emphasized the company's dedication to Bitcoin and the broader crypto ecosystem. “During July, we amplified our Bitcoin self-mining capabilities, leveraging AI-driven enhancements in our hardware and miner management software analysis. Our strategic location in the PJM power market, combined with our tech-forward approach, positions us at the forefront of the Bitcoin mining industry," he said.

July's Bitcoin-centric results revealed:

  1. Total Revenue Equivalent in BTC: 163
  2. Total Self-Mining Bitcoin Production: 69
  3. Monthly Revenue for July 2023: Approximately $4.89M
  4. Bitcoin Self-Mining Monthly Revenue: $2.07M
  5. Hosting Co-location Monthly Revenue: $1.78M
  6. Energy Market Program Monthly Revenue: Approximately $1.04M

Mawson's 2023 vision is deeply intertwined with the crypto world. They are exploring expansion opportunities in the crypto-friendly PJM energy markets, especially in Pennsylvania and Ohio. The company is also keen on securing strategic sites for long-term digital infrastructure capacity, ensuring a robust foundation for their Bitcoin and crypto operations.

Image source: Shutterstock

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