Crypto Miner Mawson Sees Hashrate Topping 1 EH/s by Month's End

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.


By Aoyon Ashraf