Mawson Infrastructure Group, Inc. (NASDAQ: MIGI) shares are experiencing a notable surge in the current trading session, demonstrating a remarkable increase of 39.04% and reaching a trading price of $2.03 as of the last check. The upward trajectory observed in Mawson’s stock value on the US stock charts can be attributed to a strategically significant business maneuver.
Mawson (MIGI) recently finalized a new customer co-location accord involving a wholly-owned subsidiary of Mawson and Krypton Technologies LLC (“Krypton”). This agreement, consummated between MIGI’s Chief Executive Officer and Krypton’s Managing Partner on December 13, 2023, entails Mawson providing Krypton with co-location services for 1,764 miners, equating to approximately 6 MW, at MIGI’s facilities in Midland, Pennsylvania.
The initial term of this co-location customer agreement spans 12 months, with the provision for extension subject to mutual consent. Furthermore, the agreement incorporates a degree of flexibility to accommodate potential future capacity expansions. This accord signifies the addition of another co-location client, a development Mawson foresees as a significant contributor to the expansion of its co-location business in the upcoming year.
The recent achievements in the co-location sector, coupled with the growth witnessed in MIGI’s self-mining enterprise, have concurrently bolstered the company’s capabilities in energy management, positioning itself strategically for the forthcoming year. The December agreement with Krypton not only enhances Mawson’s co-location business but complements the growth catalyzed by MIGI’s self-mining initiatives in recent months.
In October, Mawson inked a customer co-location agreement with a wholly owned subsidiary of Consensus Technology Group, facilitating co-location services for 15,876 miners, or approximately 50 MW. The deployment related to the Consensus agreement concluded in mid-November, while the Krypton deployment is slated for completion by the end of December.
Mawson envisions its Midland, Pennsylvania facilities operating at a capacity of 100 MW, encompassing the combined potential of self-mining and co-location fleets. This translates to approximately 32,900 miners and 3.6 EH/s. Additionally, Mawson maintains facilities in Bellefonte, Pennsylvania, exclusively dedicated to self-mining pursuits.
