Mawson, an encryption mining enterprise, withdrew from the Australian market and launched a new mining business in Pennsylvania, USA

It is reported that the encryption mining enterprise Mawson Infrastructure announced its withdrawal from the Australian market and launched new mining business in Pennsylvania, including Mawson’s self-operated mining and the company’s hosting services. Mawson also operates a 100-megawatt mining station locally, with a total computational power of 7.8 exaash (EH/s). Last September, Bitcoin miner CleanSpark agreed to purchase Mawson’s Georgia mine and 6488 mining machines in the mine at a price of up to US $42.5 million.

Interpretation of this information:

Mawson Infrastructure, an encryption mining enterprise, has announced its exit from the Australian market and its new focus on mining operations in Pennsylvania. The company will offer self-operated mining services and hosting services in the new market. It has also established a 100-megawatt mining station with a total computational power of 7.8 exaash locally. The move comes after the purchase of Mawson’s Georgia mine and 6488 mining machines by cryptocurrency mining firm CleanSpark in September 2020, for up to $42.5 million.

The announcement by Mawson Infrastructure is a clear indication of the current volatile nature of the cryptocurrency mining industry. The Australian market may have been favorable to the company, but changing times and mining regulations may have forced the move. Pennsylvania’s policies may be more favorable, and the company is looking to establish itself there.

The establishment of a self-operated mining station and hosting services is an indication of the company’s switching focus from solely mining to offering services to other miners. Hosting services are essential to new miners who may not afford individual mining stations, and Mawson seeks to provide them at affordable rates.

Mawson Infrastructure has endeavored to keep up with the fast pace of the cryptocurrency mining industry. The company’s 100-megawatt mining station in Pennsylvania is a clear indicator of this. The total computational power of 7.8 exaash also shows that Mawson seeks to remain competitive in the increased computational power required for mining.

In summary, what stands out from Mawson Infrastructure’s announcement is their exit from the Australian market and their establishment in Pennsylvania to offer self-operated mining and hosting services. Additionally, the establishment of a 100-megawatt mining station with a total computational power of 7.8 exaash, which they plan to operate locally, is critical to their mining operations. The purchase of its Georgia mine and mining machines by cryptocurrency mining firm CleanSpark in September 2020 shows that the mining industry is volatile, and companies must keep up to remain competitive.