Mawson Infrastructure reports Q3 revenue $12.32M

Rahul Mewawalla, CEO and President of Mawson, said, “We are pleased to report strong execution and strategic expansion, delivering 222% year-over-year revenue growth in our digital colocation business and 33% year-over-year revenue growth in our energy management business. Moreover, our total overall revenue has significantly increased 50% year-to-date over the first nine months of 2024. We have built and grown a robust enterprise-grade digital colocation business this year across multiple customers. We are also excited about advancing our recent expansion into AI (artificial intelligence) and HPC (high-performance computing) markets with our innovative and solutions-driven approach to growing our overall business. We continue to prioritize our carbon-free and sustainable energy approach, including nuclear power, which positions us to address the critical compute capacity needs of our enterprise customers, where sustainable infrastructure is increasingly becoming a strategic imperative. We’re also proud of our recent operational achievements and expansion efforts, which are expected to increase our total capacity from our currently operating capacity of 129 MW to 153 MW upon completion, all of which is in the strategic PJM market, which represents the largest competitive wholesale electricity market in North America.”