Tuesday, 28 February 2023

Mawson Infrastructure Group Launches Bitcoin Mining Operation in Pennsylvania, Exits Australia

by Berkeley Lovelace

Mawson Infrastructure Group Launches Bitcoin Mining Operation in Pennsylvania, Exits Australia

The bitcoin mining operation, Mawson Infrastructure Group, Inc., announced that the firm has broken ground at a new site in Sharon, Pennsylvania. Reports detail that Mawson has delivered six modular production units capable of housing 3,528 application-specific integrated circuit (ASIC) bitcoin miners, or approximately 12 megawatts (MW) of capacity. The new Mawson site is capable of reaching 4.2 exahash per second (EH/s) when fully complete.

Mawson Deploys Six Modular Bitcoin Mining Data Centers in Sharon, Pennsylvania

Sharon, a city in western Mercer County, Pennsylvania, now has a bitcoin mining facility used by Mawson Infrastructure Group, a crypto mining operation and digital infrastructure provider. Mawson told the Youngstown Publishing’s Business Journal Daily that the company delivered six modular data centers capable of holding approximately 3,528 ASIC mining rigs.

The miners will consume 12 MW of capacity, but the site can hold up to 35,280 ASIC bitcoin mining rigs, according to Mawson. The firm said the more than 35,000 mining rigs will produce around 4.2 EH/s of SHA256 hashpower, and the first 12 MW will be online during the next quarter.

Bitcoin miners, in general, have had a hard time dealing with the crypto market’s downturn, and some mining operations went bankrupt due to losses. However, 2023 has been better as BTC prices have increased significantly over the past two months. On the same token, the network’s difficulty reached an all-time high this week at 43.05 trillion hashes.

Mawson stated that the new mining operation in Pennsylvania will be divided between Mawson’s self-mining and the company’s hosting services. The first six modules should be online by the second quarter, and the remaining 120 megawatts should come online throughout the rest of 2023 and into early 2024, the company said.

Mawson also operates a 100-megawatt site in Midland, Pennsylvania, and the two bitcoin mining sites combined will produce an estimated 7.8 exahash per second (EH/s). The Sharon site launch “is further proof of Mawson’s push to deploy infrastructure and energize through 2023 and to achieve our previously stated targets,” said Liam Wilson, the chief operating officer of the bitcoin mining site, in a statement.

Like many publicly traded bitcoin mining operations, Mawson’s shares on Nasdaq have not performed well over the last few months. Six-month statistics indicate that the shares are down 39.50%, and 30-day metrics show the stock has dropped 11.55% against the U.S. dollar.

What do you think about Mawson launching a bitcoin mining site in Sharon, Pennsylvania and exiting Australia? Share your thoughts in the comments section below.