Crypto Miner Mawson Sees Hashrate Topping 1 EH/s by Month's End
The Australian miner is producing about 5.8 bitcoins per day.
Jan 19, 2022 at 2:30 p.m. UTCUpdated May 11, 2023 at 5:56 p.m. UTC
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Australian crypto miner Mawson Infrastructure Group said it is operating above 1 exahash per second (EH/s) and is on track to reach 1.1 EH/s by the end of January.
- The 1.1 EH/s rate would be about 38% higher than its computing power in November, the company said in a statement.
- Mawson’s computing power is about 0.6% of the Bitcoin network’s hashrate of about 162.6 EH/s as of Tuesday, according to data analytics firm Glassnode.
- The miner also said it’s producing 5.8 bitcoins per day and is on track to increase its hashrate to 3.35 EH/s by the second quarter and 5 EH/s by the first quarter of next year.
- In comparison, Marathon Digital, one of Mawson's biggest rivals, said in December that its computing power was 3.5 EH/s and was on track to reach 23.3 EH/s by early 2023.
- “Our operational expansion continues at pace, with both our Georgia and Pennsylvania facilities ramping up rapidly – this is a tremendous achievement from our team given the current bottlenecks in global supply chains,” Mawson CEO and founder James Manning said in the statement.
- On Dec. 29, newly launched Gem Mining said it reached a hashrate of 1.25 EH/s, producing 6.5 bitcoins per day.
- Shares of Mawson (Nasdaq: MIGI) have fallen about 25% this year along with its rivals amid a broader crypto market sell-off.
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Aoyon Ashraf is managing editor with more than a decade of experience in covering equity markets