Mawson closes sale of TX assets to focus more on PA operations

Mawson Infrastructure ( NASDAQ: MIGI ) said Wednesday it has completed the sale of its greenfield sites in Texas for $8.5 million cash and stablecoins. Under terms of the deal, Mawson sold its subsidiary Luna Squares Texas, and also 59 transformers which were earmarked for the Texas sites. The buyer is a fund managed by Mainnet Capital, a Singapore-based fund manager, called M Turing VCC Oracle Phase 1 Fund, Mawson said Mawson said it now expects to put all of its focus on the current 240 MW of facilities in Pennsylvania. The sale proceeds will be used to cut debt further, for future expansions, and to buy additional ASIC miners. Mawson is scheduled to turn on an added 70 MW at its Midland, PA site, and an initial 12 MW at its Sharon, PA site in Q2, 2023. The company expects to have 132 MW online during Q2, 2023, representing enough power for up to 38,808 ASIC miners. Press Release .