United

Bitcoin

FOMO

Mainnet Capital, a Singapore-based fund manager, has purchased Mawson Infrastructure Group's greenfield sites in Midland, Texas for $8.5 million in cash and stablecoins. 
Mawson subsidiary Luna Squares Texas LLC, which held the relevant lease agreements and related contracts, was sold as part of the transaction. Mawson also sold 59 transformers that were earmarked for these Texas sites, according to a <a href="https://mawsoninc.com/mawson-infrastructure-group-inc-sells-greenfield-texas-sites-for-8-5m/?ref=blockhead.co">statement</a> by the mining company.
The sale allows the NASDAQ-listed Mawson to focus on its current 240 MW of facilities in Pennsylvania, while the proceeds from the sale will be used for debt reduction and funding future expansions across Mawson’s other sites, including the acquisition of additional ASIC miners, the statement said. 
<h2 id="expanding-mining-industry">Expanding mining industry</h2>
"This acquisition highlights our dedication to the rapidly expanding Bitcoin mining industry in the United States and reinforces our commitment to drive value for our investors and stakeholders, as well as contribute to the growth and success of the Midland, Texas community," <a href="https://www.mainnetcapital.com/en/?ref=blockhead.co">Mainnet Capital</a> CEO Ray Li said. 
Li also emphasized the importance of grid resiliency in Texas and their plan to contribute to its stabilization by participating in state power grid demand response and load resource programs.
The sale was advised by Quarry Advisors, a leading transactional advisory firm in the energy and digital mining industries. The firm's co-founder and partner, Justin Ballard, said that the mining industry continues to grow and evolve, and there is tremendous potential for companies to enter the mining space and generate significant returns.
Read more: <a href="https://www.blockhead.co/2023/04/18/is-crypto-actually-money-singapore-judge-says-no/">Is Crypto Actually Money? Singapore Judge Says No</a>
Mawson Infrastructure Group is a digital infrastructure provider with multiple operations throughout the US and Australia. Mawson matches sustainable energy infrastructure with next-generation Mobile Data Center (MDC) solutions, enabling low-cost Bitcoin production and on-demand deployment of infrastructure assets.
<hr>
The world of Web3 can be quite a whirlwind. Whether it’s crypto news in Singapore, South East Asia or even across the globe, we understand how busy the industry is keeping you, so we kindly send out three newsletters each week:
<ul>
 <li><a href="https://blockhead.co/tag/blockbeat?ref=blockhead" rel="noopener noreferrer">BlockBeat</a> for a wrap-up of the week’s digital assets news</li>
 <li><a href="https://blockhead.co/tag/blockhead-brief?ref=blockhead" rel="noopener noreferrer">Blockhead Brief</a> for weekend happenings as well as what to look forward to in the week ahead</li>
 <li><a href="https://www.blockhead.co/tag/business-bulletin/" rel="noopener noreferrer">Business Bulletin</a> for macroeconomic updates and industry developments.</li>
</ul>
To avoid FOMO and access member-only features, click <a href="https://www.blockhead.co/#/portal/" rel="noopener noreferrer">here</a> to subscribe for FREE.

Singapore Fund Buys Bitcoin Mining Sites in Texas

目錄

Blockhead

在 2023年4月25日發表的其他文章

EUCI: With MiCA Approved, The Work Only Now Begins

OFAC sanctions individuals linked to the Lazarus Group

IMPROVEMENT PROCESS - NEW BRIDGE TECNOLOGY

Reasons Bitcoin Mining is Profitable In 2023

Coinbase Sues the SEC for Answer on Rule Specific to Digital Assets

Top 5 Crypto To Accumulate Ahead Of The Bull Market

訂閱免費電子報，每天收取加密貨幣最新動態！