Mawson Infrastructure Group Inc. (NASDAQ:MIGI) ("Mawson" or "the Company"), a publicly-traded technology company focused on digital infrastructure platforms for artificial intelligence (AI), high-performance computing (HPC), and digital assets markets, today announced its unaudited business and operational update for August 2024.

Rahul Mewawalla, CEO and President said, "We are excited about another month of significant progress, including delivering 166% year-over-year revenue growth and 25% month-on-month revenue growth in our digital colocation business, along with delivering 27% month-on-month growth in our overall business revenue. We are pleased with the recent expansion of our business into artificial intelligence (AI) and high-performance computing (HPC) colocation markets, and our recent announcement of our signing a 6-year AI customer colocation agreement to enable the future acceleration of AI and HPC. Our expansion into Ohio further enhances our footprint in the PJM market, the largest wholesale competitive electric market in North America, and amongst the most attractive markets in our view for AI (artificial intelligence) and HPC (high-performance computing). Moreover, we are extremely proud of our carbon-free and sustainable energy approach, including nuclear energy. We expect AI to drive a surge of demand for digital infrastructure platforms over the next 5 years, and for increased compute capacity to be a critical driver and a strategic imperative for the broader technology industry moving forward."

Unaudited financial and operational highlights for August 2024:

• Digital Colocation Monthly Business Revenue up 166% Y/Y and up 25% M/M to $3.43 million
• Overall Monthly Revenue up 27% M/M from July 2024 to about $4.44 million
• Energy Management Monthly Business Revenue of $0.79 million and Self Mining Bitcoin Monthly Business Revenue of $0.22 million
• Expanded into AI (artificial intelligence) and HPC (high-performance computing) colocation markets
• Recently executed an AI / HPC colocation agreement for 20 MW to colocate AI customer NVIDIA GPUs, Expected to Generate Cumulative Revenue Potential of $285 Million1
• Signed separate non-binding LOI with the AI / HPC colocation customer to potentially expand to 144 MW
• Secured lease amendment on 24 MW facility in Ohio for an extended total term of 9 years, including elective options, through April 2033 and commenced construction on the 24 MW facility in Ohio, and extended lease on 120 MW facility in Midland, Pennsylvania expanding presence across Pennsylvania and Ohio, and the PJM market which is North America's largest competitive and deregulated wholesale power market
• Mawson is inviting AI/HPC partners to discuss opportunities to collaborate on the deployment of NVIDIA GPUs and other high-performance and accelerated computing solutions