Hassan Maishera
Mawson Infrastructure Group is working on expanding its cryptocurrency mining operations in Georgia.
Mawson to expand its crypto mining operations
Mawson Infrastructure Group announced earlier today that it is expanding its cryptocurrency mining operations in Georgia. Mawson revealed that it intends to expand its current cryptocurrency mining capacity in the state by up to 300 megawatts (MW).
According to the company, the increased mining capacity would allow the Georgia site to boost its hash rate to 2,000 PH/s and 5,000 PH/s by the end of this year and 2022, respectively. The United States continues to boost its cryptocurrency mining operations after China cracked down on miners.
In recent months, Chinese authorities have cracked down on cryptocurrency miners, shutting down their access to electricity and closing crypto mining farms. This has led the miners to move their operations to other parts of the world, especially Kazakhstan and Russia.
The United States, meanwhile, is starting to go big on cryptocurrency mining. Mawson is one of the publicly listed companies that are becoming more active in crypto mining activities. In July, the company revealed that it was negotiating with the City of Sandersville in a bid to boost the power capacity allocated to its Georgia site. Mawson was seeking to increase its power allocation from 100 MW to 400 MW at a rate of $0.04 per kWh.
Mawson's chief commercial officer Nick Hughes-Jones pointed out that the company's Georgia site is operational, and they are working on an expansion. The company is currently building the second phase and is set to be completed next month, while the third phase would be ready by the fourth quarter of the year.
More companies are starting to use renewable energy to mine cryptocurrencies after complaints that Bitcoin mining consumes too much power and contributes to global warming by using nonrenewable energy.
