Mawson Infrastructure Group announced Monday that the company has secured a new mining site in Corning, Ohio. The bitcoin miner, on May 1, 2023, revealed its plans to have miners installed at the new location by the third quarter of this year, with the goal of increasing the hashing power of the operation 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 open Signed an agreement for a new location in Ohio. This development follows the company’s previous projects in Pennsylvania and the decision to withdraw from Australia.
The new mining site, located in Ohio, is expected to provide a starting capacity of 24 megawatts. However, Mawson expects to expand its operations to harness an additional 26 megawatts of power, bringing the total site capacity to 50 megawatts.
The mining company revealed that it already operates 240 megawatts of power in the surrounding area. “We are very excited to complete the acquisition of this new location. The addition of this location to our portfolio of assets in the region is a great achievement by the team and furthers our revised strategy to focus in the PA/OH region,” commented James Manning, CEO of Mawson.
Despite news of the expansion, Mawson’s shares are listed on the stock exchange (NASDAQ: cities) has seen a decrease of 5% over the past 24 hours and a decrease of 1.97% over the past month. However, the statistics for the past six months reveal an upward trend in MIGI shares of 11.26%, and so far, the shares are up more than 107%.
Mawson’s initial plan for the Corning facility is to accommodate 12 Mobile Data Centers (MDCs) and 7,056 miners. Both hosted and self-hosted hardware will be deployed to the new mining site. Just before the Ohio Declaration, in April, Mawson Sold locations in Greenfield Texas 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 on this topic in the comments section below.
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