Mawson Infrastructure Group Inc. Reports Fiscal Year 2024 Financial Results
136% Y/Y Revenue Growth in Digital Colocation Business
42% Y/Y Revenue Growth in Energy Management Business
35% Y/Y Increase in Overall Gross Profit
Expanded into Artificial Intelligence (AI) and High-Performance Computing (HPC) markets
MIDLAND, Pa., March 28, 2025 (GLOBE NEWSWIRE) -- 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 financial and operational results for the year ended December 31, 2024.
Rahul Mewawalla, the Company's CEO and President, commented, "We have led the Company through a journey of transformation through the year, and as a result, we are pleased to deliver both significant revenue and gross profit growth, 136% Y/Y revenue growth in our digital colocation business and 42% Y/Y revenue growth in our energy management business. In addition, we increased our overall gross profit by 35% Y/Y. Moreover, we brought in several enterprise-grade customers and expanded our platform offerings into artificial intelligence and high-performance computing markets. I am incredibly proud of our organization's strategic, operational, and financial execution as we successfully transformed Mawson into a multi-tenant digital infrastructure platform serving enterprise-grade customers, and with offerings and solutions across artificial intelligence, high-performance computing, digital assets and other computing markets."
Key financial and operational highlights for the year ended December 31, 2024 include:
Digital colocation revenue increased 136% Y/Y to $38.5 million.
Energy management revenue increased 42% Y/Y to $7.6 million.
Overall revenue increased 36% Y/Y to $59.3 million.
Overall gross profit increased 35% Y/Y to $20.3 million.
Company generated positive cash flows from operations and was net cash flow positive at the end of 2024.
Operating hash rate1 increased 31% Y/Y to 4.98 exahash per second (EH/s).
Expanded current operational capacity to 129 MW with an additional 24 MW under development, with our facilities being ...
