Bitcoin Miner Mawson Signs Hosting Deal with DCG-owned Foundry Digital

This year, Bitcoin miners have brought the king coin to its all-time highs on mining difficulty. Australia-based bitcoin miner, Mawson Infrastructure Group (MIGI), has signed a 12 megawatt (MW) hosting co-location agreement with Digital Currency Group or DCG-owned Foundry Digital. The deal came just days after joining hands with Celsius Mining for a 100 MW deal.

As per the statement released by the company on Friday, the agreement aims to bring the miner’s hosting co-location business to 114 MW, surging 5,600% from 2 MW as of December 31, 2021. This week on Tuesday, Mawson teamed up with Celsius Mining for its largest co-location customer for a 100 MW deal.

Mawson to generate additional revenue streams

The founder and CEO of 2012-founded Mawson, James Manning, said that currently, there is huge demand for hosting services in the industry and the company is pleased to utilize its surplus energy infrastructure in generating additional revenue streams. 

He went on to say:

“In FY2021, we generated $850,000 in revenue from our 2 MW of hosting customers – the agreements we have signed this week take us to 114 MW in our hosting business in total. Our hosting business is expanding rapidly, and total contracts signed to date make us one of the largest Nasdaq listed Bitcoin mining ASIC hosting companies.”

Mawson aims to deploy the first mining hardware under the new deal by the end of the first quarter of 2022.

As TheCoinRise continuously reports, Bitcoin mining difficulty and its hash rate have seen new highs this year. A few weeks back, BTC saw its mining difficulty touching ATH at 27.97 T. Miners in the United States are aiming for operation expansion amid the ongoing sluggish situation in the market.