mawson

ChainCatcher message, according to The Miner Mag, Bitcoin mining and hosting company Mawson Infrastructure has fired CEO and President Rahul Mewawalla and revoked his board seat for violating fiduciary duties and fraudulent conduct. Mawson has filed a lawsuit in the Delaware Chancery Court seeking damages.Mewawalla previously received a $2.5 million bonus and 1.2 million shares of restricted stock for "high performance," with his annual salary rising to $1.2 million. In his response, he denied any wrongdoing, emphasizing that under his leadership, the company's revenue grew by 36% and gross profit by 35%.In addition, Mawson was recently involved in a lawsuit with NYDIG and its parent company Stone Ridge over custodial disputes involving over 20,000 mining machines worth $30 million.

ChainCatcher news, Bitcoin mining company Mawson Infrastructure Group announced its financial report for the third quarter of 2023, with an output of 246 BTC, a quarter-on-quarter increase of 35%; self-mined BTC revenue increased by 41% quarter-on-quarter to $6.9 million; as of September 30, Mawson's revenue was $11.3 million, a quarter-on-quarter increase of 7%.The cost of revenue for the third quarter of 2023 decreased by 58% compared to the same period last year, and increased by 10% quarter-on-quarter, rising from $7 million to $7.7 million; the gross profit for this quarter was $3.6 million, a quarter-on-quarter increase of 3%, mainly due to the combined effects of operational improvements, reduced electricity costs, and improved BTC market indicators, while the gross profit for the same period last year was $10.1 million, a quarter-on-quarter decrease of 64%; SG&A expenses for the third quarter of 2023 decreased by 42% sequentially, from $6.3 million to $3.7 million, due to the company's operational efficiency and the initial results of cost optimization activities implemented by the new management in recent months, compared to $5 million in the same quarter last year.In the third quarter of 2023, Mawson reported a net loss of $16.2 million, compared to a net loss of $17.7 million in the previous quarter and a net loss of $8.2 million in the same period last year.

ChainCatcher news, according to Globe Newswire, Bitcoin mining company Mawson Infrastructure Group announced its operational data for August, reporting an output of 88 BTC and a monthly revenue of approximately $3.88 million, with self-mined Bitcoin monthly revenue increasing by 18% to $2.44 million.As of the end of August 2023, there are approximately 15,600 self-mining machines in operation, an increase of 8% month-over-month.

ChainCatcher news, Bitcoin mining company Mawson has sold its Texas facility to Singapore's Mainnet Capital under the M Turing VCC Oracle Phase 1 Fund for $8.5 million.Mawson stated that the proceeds from the sale will be used to further reduce debt and to fund future expansions at other Mawson locations. (Source link)

Chain Catcher News, Bitcoin mining company CleanSpark has acquired Mawson's mining facility in Georgia and 6,488 mining machines for $42.5 million. CleanSpark paid for the acquisition with $26.5 million in cash, $11 million in common stock, a $3 million promissory note, and $2 million in future earnings.The transaction is expected to add 1.4 EH/s of computing power by the end of the year, bringing the total computing power to 5.2 EH/s. CleanSpark anticipates adding another 2.4 EH/s in early 2023, with a total increase of 7.0 EH/s by the end of next year. (CoinDesk)