Mawson Infrastructure Group, a publicly-traded bitcoin mining company in the United States, is expanding its proprietary mining capacity by up to 300 megawatts in the state of Georgia (MW).
Mawson stated on Monday that the expansion will enable the Georgia site to increase its proprietary hash rate to 2,000 PH/s and 5,000 PH/s by the end of 2021 and 2022, respectively. Mawson’s expansion is part of the ongoing infrastructure scaling in the United States for new bitcoin mining capacity, as China’s crackdown on crypto mining has created a hosting shortage.
Mawson announced in July that it was in negotiations with the City of Sandersville to increase the power capacity allocated to its Georgia site from 100 MW to 400 MW, at a cost of $0.04 per kWh.
According to Mawson’s chief commercial officer Nick Hughes-Jones, the Georgia site is operational with an ongoing expansion schedule. The second phase is “under construction and is scheduled to be completed in September,” he said, while the third phase is scheduled to open in Q4 2021.
Apart from the Georgia location, the firm, which is headquartered in Australia, also has operations in that country. It announced last week the purchase of 17,352 units of Canaan’s latest generation of equipment. This was in addition to the 11,760 miners that Canaan had pre-ordered in April. These pre-orders will be shipped between 2021 and 2022 from Mawson’s facilities in the United States and Australia.
At the current price and difficulty of bitcoin, Canaan’s newest generation of equipment would generate a gross profit margin of approximately 90% at a $0.04 per kWh energy cost.
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