Q1 2024 Total Revenue increased 145% Y/Y and 34% Q/Q
Q1 Co-Location Business Revenue increased 90% Y/Y and 83% Q/Q
Q1 Energy Management Business Revenue increased 461% Y/Y and 2% Q/Q
Company optimized and reduced Q1 SG&A expenses by 30% Y/Y and 19% Q/Q
“We are delighted with the overall revenue increase during the first quarter of 2024 —145% year-on-year growth and 34% quarter-on-quarter growth, in addition to our progressing the Company’s strategic, operational, and technological plans in Q1, 2024,” said Rahul Mewawalla, CEO and President of Mawson. “We also expanded the company’s co-location business increasing our co-location business revenue by 83% this quarter compared to the prior quarter. Moreover, we recently announced our plans to expand our digital infrastructure capacity at our
Financial and operational highlights for the quarter ended
- Q1 2024 revenue increased 145% Y/Y and 34% Q/Q to
$18.77 million . - Q1 2024 Co-Location business revenue increased 90% Y/Y and 83% Q/Q to
$8.23 million . - Q1 2024 Energy management business increased 461% Y/Y and 2% Q/Q to
$2.47 million . - Q1 2024 Bitcoin production of 140 BTC.
- Executed an additional co-location agreement with an enterprise customer and expanding our co-location business to a total of 82 MW.
- Company optimized and reduced Q1 2024 SG&A expenses by 30% Y/Y and 19% Q/Q to
$3.46 million .
Conferences and Events Update
Mawson has planned for its CEO and President, Rahul Mewawalla to join the following upcoming conferences and events. Please contact IR@Mawsoninc.com for further information.
- Consensus in
May 2024 inAustin, Texas - Artificial Intelligence (AI) Summit in
June 2024 inLondon, United Kingdom - Fintech Week in
June 2024 inLondon, United Kingdom - Mining Disrupt in
June 2024 inMiami, Florida - Bitcoin 2024 in
July 2024 inNashville, Tennessee - Blockchain Futurist in
August 2024 inToronto, Canada Gateway Conference inSeptember 2024 inSan Francisco, California - Token 2049 in
September 2024 inSingapore - Bitcoin Europe in
October 2024 inAmsterdam, Netherlands - World Summit Artificial Intelligence (AI) in
October 2024 inAmsterdam, Netherlands - Money 20/20 in
October 2024 inLas Vegas, Nevada
About
For more information, visit: https://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
For more information, visit: https://mawsoninc.com/
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Investor Contact:
Investor Relations Team
IR@mawsoninc.com
Media Contact:
Media Relations Team
mediarelations@mawsoninc.com
Source:
2024 GlobeNewswire, Inc., source