Australian crypto miner Mawson Infrastructure Group said it is operating above 1 exahash per second (EH/s) and on track to reach 1.1 EH/s by the end of January.
- The 1.1 EH/s rate would be about 38% higher than its computing power in November, the company said in a statement.
- Mawson’s computing power is about 0.6% of the Bitcoin network’s hashrate of about 162.6 EH/s as of Jan. 18, according to veri analytics firm Glassnode.
- The miner also said it’s producing 5.8 bitcoins a day and is on track to increase its hashrate to 3.35 EH/s by the second quarter and 5 EH/s by first-quarter 2023.
- In comparison, one of its largest rivals, Marathon Digital, said in December that its computing power was 3.5 EH/s, on track to reach 23.3 EH/s by early 2023.
- “Our operational expansion continues at pace, with both our Georgia and Pennsylvania facilities ramping up rapidly – this is a tremendous achievement from our team given the current bottle-necks in küresel supply chains,” said the CEO and founder of Mawson, James Manning.
- On Dec. 29, newly launched Gem Mining said it reached a hashrate of 1.25 EH/s, producing 6.5 bitcoins per day.
- Shares of Mawson (Nasdaq: MIGI) have fallen about 25% this year along with its rivals amid a broader crypto market sell-off.