Hideo Nakamura Mawson Infrastructure Group has made a bold move that is shaking up the bitcoin market. Already making a name for itself in the Australian market, Mawson recently broke ground at a new site in Sharon, Pennsylvania that will house 3,528 application-specific integrated circuit (ASIC) bitcoin miners. The new site promises to bring a huge surge of capacity at 4.2 exahash per second (EH/s). This massive mining operation could potentially revolutionize the US bitcoin market, bringing fresh opportunities to investors and miners alike.
Mawson Infrastructure Group Makes Big Move Into US Bitcoin Market
Mawson Infrastructure Group announced earlier this week their deployment of six modular data centers capable of holding approximately 3,528 ASIC mining rigs in Sharon, Pennsylvania. According to Mawson, the miners will consume 12 megawatts (MW) of power to operate and have the potential to reach up to 35,280 ASIC bitcoin mining rigs. This marks a significant move for Mawson as they exit Australia and focus on expanding Bitcoin operations in the United States.
The global Bitcoin market has experienced a downturn during the past year, with prices falling from their all-time highs of around $65,000 in April 2021. Prices have increased again in 2023 and the difficulty of the network has reached an all-time high, which could present an opportunity for Mawson’s mining operation.
Mawson’s mining operation will be divided between the company’s self-mining and hosting services and span two sites in Pennsylvania producing an estimated 7.8 exahash per second (EH/s). This is equivalent to an average of 0.7 EH/s per module, meaning that each module could produce more than its share of hashrate when online. Furthermore, Mawson said it intends to utilize renewable energy sources such as solar PV en route to creating zero carbon footprint Bitcoin mining facility.
Mawson’s stock on Nasdaq has dropped over the past six and 30 days and continues to perform poorly. Despite the market reaction, many analysts see this move as a positive one for Mawson and believe it could attract investors who previously had no interest in the company. It remains to be seen whether or not this move is enough to turn things around for them and help them recuperate some of their losses.
It appears that by entering into this highly competitive market, Mawson hopes to capitalize on the increasing demand for Bitcoin which has been steadily climbing since early 2021 and is expected to continue growing in the future. Furthermore, launching their modular data centers in Pennsylvania could create local employment opportunities as well as increase revenue for both Mawson Infrastructure Group and Sharon, Pennsylvania alike.
The launch of Mawson Infrastructure Group’s massive mining operation in Pennsylvania is a major move that signals the company’s intent to become a formidable player in the global Bitcoin market. Their exit from Australia demonstrates their focus on this bold move, and the implications for the Bitcoin market and investors cannot be overstated. With the backing of a powerful international infrastructure group, Mawson is on the cutting edge of the digital world and will undoubtedly be a crucial contributor to the ongoing growth of the Bitcoin market.
