The bitcoin mining operation Mawson Infrastructure Group (MIGI) has started to make hosting deals with key players in the mining industry. On March 1, Securities and Exchange Commission (SEC) documents show that Mawson signed a 100-megawatt (MW) co-location agreement with Celsius Mining. Three days later, Mawson announced a 12-megawatt (MW) co-location deal with Foundry Digital.
Mawson signs co-location agreements with Celsius Mining and Foundry Digital
Mawson Infrastructure Group is moving into the bitcoin mining industry, as the company recently partnered with Celsius Mining and Foundry Digital. Bitcoin.com News reported on Mawson’s bitcoin mining in the past when the company acquired 11,760 A1246 Next Generation Avalonminers ASICs from Canaan.
Just prior to the mining equipment acquisition, Mawson rebranded and changed the company’s name from Wize Pharma to Mawson Infrastructure Group. The company rebranded at the end of March 2021 and at the time, Mawson CEO James Manning said the move toward bolstering digital asset infrastructure globally was similar to the explorer and geologist Sir Douglas Mawson’s Antarctic exploration.
On March 1, 2022, Mawson signed an agreement with Celsius Mining, the mining subsidiary of crypto lending firm Celsius Network. SEC filings show Celsius Mining will provide a mining facility to host the 100 megawatt (MW) co-location.
“The industry is experiencing a shortage of energy and energy infrastructure — having focused as a business on ‘Infrastructure First’ long ago, this enables us to take on strategic customers in our hosting co-location business,” Mawson’s CEO Manning said in a statement. “Demand and inbound [inquiry] for hosting continue to rise, and we look forward to updating stockholders on this front further in due course.”
After Mawson signed the deal with Celsius Mining, the company announced a partnership with Foundry Digital LLC. Mawson’s announcement stated that the “12 megawatt hosting client [is] have the first mining hardware units online by the end of Q1 2022.”
The company plans to deploy the mining rigs inside its “proprietary Modular Data Centre (MDC) technology at its facilities in the United States.” Foundry operates the mining pool Foundry USA, which has been the top mining pool in terms of hashrate for most of 2022.
