Bitcoin Miner Mawson to Sell Texas Sites for $8.5M to Singapore Fund Manager
Mining
Bitcoin miner Mawson Infrastructure (MIGI) mentioned it agreed to promote its websites in Texas to a Singapore fund for $8.5 million in money and stablecoins.
Mainnet Capital’s M Turing VCC Oracle Part 1 Fund will purchase Luna Squares Texas LLC, which owns the contracts and leases for the websites in Midland, Texas, Mawson mentioned in a Wednesday press launch.
Mawson is shedding weight from its operations to focus in Pennsylvania. In September, it offered its facility in Georgia to CleanSpark (CLSK).
“The proceeds of the sale might be used for additional debt discount, in addition to funding future expansions throughout Mawson’s different websites,” together with buying extra mining rigs, the corporate mentioned.
Mawson expects to have ample infrastructure to help 4.2 exahash/second (EH/s) of mining computing energy by the tip of the second quarter.
Luna Squares LLC, a separate subsidiary, hosted about 10,000 machines for bankrupt crypto lender Celsius as of the tip of December 2022, in accordance with courtroom filings. Celsius loaned $20 million to Mawson in February 2022 and the 2 corporations mentioned one other $20 million mortgage the next June. Luna Squares did not plan so as to add extra Celsius machines as specified of their contract till the mortgage went by means of, the filings mentioned. Luna Squares holds $15.3 million in Celsius deposits, in accordance with the chapter filings.
Mawson shares fell 2.5% on Nasdaq as of 10:13 a.m. in New York (14:13 UTC).
