TDI is developing a large-scale, 100% renewable energy Bitcoin Mining facility in Tasmania, Australia
Mawson Group to Become 33% Shareholder
Sydney, June 8, 2022 AEST (ABN Newswire) - Tasmania Data Infrastructure Pty Ltd (TDI or TasData), an Australian-based digital infrastructure and Bitcoin Mining provider, is pleased to announce that Mawson Infrastructure Group Inc. (NASDAQ:MIGI) ("Mawson"), a global publicly listed digital infrastructure provider, will become a 33% shareholder in TDI.
TDI has agreed to issue Mawson a 33% interest in the Company in exchange for approximately 1975 of Mawson's ASIC Bitcoin Miners, as well as the use of Mawson's Modular Data Center (MDC) and associated technology.
TDI is developing a large-scale, 100% renewable energy Bitcoin Mining facility at the Que River Mine Site in Tasmania, Australia with up to 35 megawatts of energy infrastructure available for Bitcoin Mining in Q3, 2022. TDI has also provided Mawson the right to host up to 10MW of its own Bitcoin Mining infrastructure at the site as part of the agreement. TDI's site has potential expansion capacity in excess of 100 megawatts, subject to infrastructure upgrades over time.
The Que River Mine Site covers a total area of approximately 300 hectares, is located directly adjacent to TasNetworks Que substation, and is in close proximity to two large-scale transmission lines servicing the northwest part of Tasmania. The site is powered by 100% renewable energy, has an existing 40MVA substation with significant additional power availability, advanced installed communication infrastructure and sits atop a landholding of 30 hectares, providing ample space for future Modular Date Center expansion.
Michael Addison, Executive Director of Tasmania Data Infrastructure, said,
"The TDI Board believes that Mawson's investment in the Company, via the provision of ASIC miners and associated technology for a 33% interest in TDI, shows strong commercial alignment and provides current TDI shareholders the opportunity to be involved with one of the largest Bitcoin miners in the world- placing TDI on the world map. Given Mawson's experienced leadership team, who have a successful track record of building major data mining centres, and proven operational and technical experience, we are confident that we have the right partners for success and look forward to the journey ahead."
James Manning, CEO and Founder of Mawson, said:
"The team at TDI are rapidly developing a high-quality, large-scale Bitcoin Mining facility in Tasmania, where the climate is ideal and the energy profile being 100% renewable is also very attractive. By exchanging a portion of our ASIC Bitcoin Mining fleet for an equity position in TDI, we have continued to demonstrate our capital discipline whilst obtaining a meaningful equity position in one of Australia's largest emerging, 100% renewable energy Bitcoin Miners. We are looking forward to their initiation of mining activities in Q3, 2022 and expansion beyond."
About Mawson Infrastructure
Mawson Infrastructure Group (NASDAQ:MIGI) is a digital infrastructure provider, with multiple operations throughout the USA and Australia. Mawson's vertically integrated model is based on a long-term strategy to promote the global transition to the new digital economy. Mawson matches sustainable energy infrastructure with next-generation mobile data centre (MDC) solutions, enabling low-cost Bitcoin production and on-demand deployment of infrastructure assets. With a strong focus on shareholder returns and an aligned board and management, Mawson Infrastructure Group is emerging as a global leader in ESG focused Bitcoin mining and digital infrastructure.
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About Tasmania Data Infrastructure Pty Ltd
Tasmania Data Infrastructure Pty Ltd (TDI) is an Australian-based digital infrastructure and Bitcoin Mining provider with operations in Tasmania, Australia. TDI offers a large-scale, 100% renewable energy generation solution at its Que River mining site which covers a total area of approximately 300 hectares and is located directly adjacent to TasNetworks' Que substation and two large-scale transmission lines servicing the northwest part of Tasmania. The site includes a 40 Mega Volt Ampere (MVA) substation to power a significant number of data mining machines, including potential expansion capacity in excess of 100 megawatts. TDI aims to become one of the largest, high performance, 100% renewable Bitcoin Mining Facilities in the world.