Tuesday, October 4, 2022
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MIGI signs second hosting deal in a week

Just days after signing a 100-megawatt (MW) deal with Celsius Mining, Mawson Infrastructure Group (MIGI), an Australian bitcoin miner, has signed a 12 megawatt (MW) hosting co-location deal with Foundry Digital.

According to a statement made on Friday, the transaction would increase the miner’s hosting co-location operation to 114 MW, up 5,600% from 2 MW on December 31, 2021. Mawson signed its largest co-location customer, Celsius Mining, for 100 MW on Tuesday.

“Our hosting business is quickly developing, and total contracts signed to date place us among the biggest Nasdaq-listed bitcoin mining ASIC hosting firms,” said Mawson CEO and founder James Manning in a statement.

Mawson expects that the first mining hardware will be installed under the new deal by the end of the first quarter. Mawson’s shares slumped 5.8 percent on Friday, in line with the majority of its crypto mining rivals, as bitcoin lost nearly 4% to $40,770 in the previous 24 hours.

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Jeewan Singh
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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