From GlobeNewswire: 2024-05-15 17:15:00

Mawson Infrastructure Group Inc. reported a significant increase in revenue for Q1 2024, with total revenue up by 145% year-on-year and 34% quarter-on-quarter. The Co-Location Business Revenue saw a boost of 90% Y/Y and 83% Q/Q, while the Energy Management Business Revenue surged by 461% Y/Y and 2% Q/Q. The company also managed to optimize and reduce SG&A expenses by 30% Y/Y and 19% Q/Q in Q1.

CEO Rahul Mewawalla expressed satisfaction with the revenue growth, strategic progress, and technological advancements in Q1 2024. Expansion efforts were fruitful with co-location business revenue jumping by 83% compared to the previous quarter. Plans to increase digital infrastructure capacity to 120 MW at Midland facilities were announced, highlighting a commitment to growth and innovation.

Financial highlights for Q1 2024 include a total revenue of $18.77 million, Co-Location business revenue of $8.23 million, Energy Management business revenue of $2.47 million, and Bitcoin production of 140 BTC. The company also signed a new co-location agreement with an enterprise customer, expanding business operations to 82 MW co-location.

Mawson Infrastructure has a busy schedule ahead with CEO Rahul Mewawalla set to participate in various conferences and events throughout 2024. These include Consensus in May, Artificial Intelligence Summit and Fintech Week in June, Mining Disrupt in June, Bitcoin 2024 in July, Blockchain Futurist in August, Gateway Conference in September, Token 2049 in September, Bitcoin Europe in October, World Summit Artificial Intelligence in October, and Money 20/20 in October.

Mawson Infrastructure Group is a digital infrastructure company focused on accelerating the digital economy with innovation, technology, and operational expertise. Their commitment to carbon-free energy solutions, growth in bitcoin network, and high-performance computing solutions positions them as a key player in the industry. Visit their website for more information on their initiatives and services.



Read more at GlobeNewswire:: Mawson Infrastructure Group Inc. Reports Q1 2024 Financial