Australian fintech leases land in Midland

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Australia-based Mawson Infrastructure Group, a company specializing in cryptocurrency mining and digital asset management, recently signed a lease with Jewel Acquisition for the property and its associated power infrastructure in Midland.

The three-year lease includes renewal options of up to 15 years.

Mawson intends to host its modular data center on site. The centre’s solutions enable the proliferation of blockchain technology.

The site has a capacity of 50 megawatts (MW) of electricity with infrastructure in place to support an additional 50 MW. The company plans to purchase the majority of its energy from renewable, non-carbon-emitting sources.

“We are very pleased to have secured another large site in a market environment where large-scale power infrastructure is scarce,” said James Manning, Founder and CEO of Mawson. “This opportunity brings substantial already installed electrical infrastructure, reducing our cost per MW and maximizing our speed of deployment. This site, combined with our flagship site in Georgia, underpins our goal of securing 5,000 PH by early 2023. ”

Development is expected to begin this month and the center is expected to be operational at the end of this year or early 2022.

Mawson Infrastructure’s mission is to bridge the gap between traditional capital markets and the emerging digital asset industry.

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