Q4 Co-Location Business Revenue increased 52% Q/Q
Q4 Energy Management Business Revenue increased 64% Q/Q
Total Quarterly Revenue increased 24% Q/Q to
“We are delighted with Q4 2023 being a robust quarter of growth and a significant step forward in a transformational year for Mawson,” said Rahul Mewawalla, CEO and President of Mawson. “In Q4, we signed new enterprise co-location customers and rapidly grew our co-location business revenue by 52% this quarter compared to last quarter. We also grew our energy management business revenue by 64% this quarter compared to last quarter. I am grateful to our organization, our customers, and our partners as we advanced our operational, technological, and strategic plans. We are excited about continuing to enhance our digital infrastructure platform capabilities across self-mining, co-location and energy management in 2024.”
Fiscal Year 2023 and Q4 2023 Financial and Operational Highlights
Key financial and operational highlights for the quarter ended
- Q4 2023 revenue increased 24% Q/Q to
$14.02 million - Q4 2023 Co-Location business revenue increased 52% Q/Q to
$4.49 million - Q4 2023 Energy management business increased 64% Q/Q to
$2.42 million - Q4 2023 Bitcoin production of 193 BTC
- Executed and deployed new enterprise co-location customers
Key financial and operational highlights for the Fiscal Year ended
- FY 2023 Co-location business revenue increased 23% from FY 2022, to
$16.36 million - FY 2023 total revenue was
$43.57 million (average FY 2023 price of bitcoin was approximately$29K ) - Produced 741 bitcoin in FY 2023
- Total assets of
$84.77 million and cash of$4.48 million at end of FY 2023 - Enhanced strategic capabilities across digital infrastructure platform for all 3 primary businesses – bitcoin self-mining business, co-location services business, and energy management business
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.
- 19th Annual Needham Technology, Media and Consumer Conference in
May 2024 inNew York City ,New York - Bitcoin 2024 in
July 2024 inNashville, Tennessee
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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Source:
2024 GlobeNewswire, Inc., source