Mawson Infrastructure Group Inc. Announces US$37M Private Investment in Public Equity (“PIPE”) Financing
PIPE closed early and oversubscribed, supported by new and existing institutions
SYDNEY–(BUSINESS WIRE)–Mawson Infrastructure Group Inc. (OTCQB:MIGI) (“Mawson”), a digital infrastructure provider with diversified operations across bitcoin mining and digital asset management, announces it has completed an approximately US$37M private offering of its common stock, which was oversubscribed and supported by new and existing institutions, High Net Worth and Family Office investors.
The proceeds of this offering are intended to be used to significantly expand Mawson’s installed PH, via the acquisition of additional ASIC bitcoin mining hardware, CAPEX for its facilities and additional power infrastructure.
James Manning, CEO and Founder of Mawson, said, “We are very proud to be amongst the fastest and lowest cost deployers of our power infrastructure in the industry. Our Modular Data Centre (“MDC”) approach sets us apart from our peers and enables Mawson to be highly efficient with the capital it has raised to date. We have also been diligent in the way we purchase additional ASIC bitcoin mining hardware, remaining patient for the correct moment in time to add to our mining fleet. We reiterate our end of CY21 goal of 2000 PH, as well as our end of CY22 goal of 5000 PH, and look forward to sharing additional news on our sites and growth in due course.”
About Mawson Infrastructure
Mawson Infrastructure is a digital infrastructure provider, with diversified operations across Cryptocurrency Mining and Digital Asset Management. Headquartered in Sydney, Australia and operating across the USA and Australia, Mawson Infrastructure’s mission is to build a bridge between the rapidly emerging digital asset industry and traditional capital markets, with a strong focus on shareholder returns. Mawson matches energy infrastructure with next-generation mobile data centre solutions, enabling the proliferation of blockchain technology.
For more information, visit: www.mawsoninc.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Mawson cautions that statements in this press release that are not a description of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words referencing future events or circumstances such as “expect,” “intend,” “plan,” “anticipate,” “believe,” and “will,” among others. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon Mawson’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, the possibility that Mawson’s need and ability to raise additional capital, the development and acceptance of digital asset networks and digital assets and their protocols and software, the reduction in incentives to mine digital assets over time, the costs associated with digital asset mining, the volatility in the value and prices of cryptocurrencies and further or new regulation of digital assets. More detailed information about the risks and uncertainties affecting Mawson is contained under the heading “Risk Factors” included in Mawson’s Annual Report on Form 10-K filed with the SEC on March 1, 2021 and Mawson’s Quarterly Report on Form 10-Q filed with the SEC on August 10, 2021, and in other filings Mawson has made and may make with the SEC in the future. One should not place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Mawson undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as may be required by law.
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