Mawson to move to 100% ownership over time
Mawson Infrastructure Group Inc (OTCQB:MIGI) (“Mawson”), a digital Infrastructure provider with diversified operations across bitcoin mining and digital asset management, announces it has increased its ownership in Luna Squares LLC (“Luna Squares”) from 50% to 90%, with the remaining 10% subject to performance hurdles.
The immediate acquisition of the additional 40% of Luna Squares cements Mawson’s ownership of this high-quality hosting and proprietary bitcoin mining facility in Georgia, USA.
Luna Squares has seen substantial growth in the first half of 2021, growing from 3MW to over 12MW online as of June 30, 2021. The site from where Luna Squares operates has in excess of 100MW of future power capacity and will be used for a combination of third-party hosting customers and Mawson’s own proprietary bitcoin mining operations.
James Manning, CEO and Founder of Mawson, said, “The Mawson team has built Luna Squares LLC from the ground up. It is a high-quality and rapidly expanding facility and is the cornerstone of our business today. We are working closely with our local partners to expand the site and look forward to updating shareholders on this front in due course.”
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