Final contracted ASIC Bitcoin Miner Shipment from Canaan received, Mawson now assessing attractive spot market for future ASIC Bitcoin Miner purchases

Mawson now has approximately 40,000 ASIC Bitcoin Miners deployed at its facilities across its Self-Mining and Hosting Co-location businesses

Mawson Self-Mining and Hosting Co-location operating at approximately 3.1 Exahash as at end May, expected to be at approximately 3.35 Exahash by end June

Mawson’s 100% renewable energy Bitcoin Mining facility in Australia expected to be fully operational in June at approximately 0.4 Exahash

Mawson has sold approximately 1975 ASIC Bitcoin miners in exchange for 33% of the equity in Tasmania Data Infrastructure Pty Ltd (TDI), a 100% renewable energy Bitcoin Miner located in Australia

Mawson Infrastructure Group Inc. (NASDAQ:MIGI) (“Mawson”), a digital infrastructure provider, is pleased to provide an ASIC Bitcoin Miner shipment, deployment and operational update.

Mawson has now received the final shipment of A1246 ASIC Bitcoin Miners from Canaan, with the final batch of orders placed in 2021 being deployed across the company’s operations in the coming months.

Current Bitcoin and broader market movements has seen ASIC Bitcoin Miner pricing fall significantly, placing Mawson in a strong position to acquire new ASIC Bitcoin Miners at attractive prices at the appropriate time.

Mawson now has approximately 40,000 ASIC Bitcoin Miners deployed across its Self-Mining and Hosting Co-location business, operating at a combined total of approximately 3.1 Exahash across all operations.

Mawson’s Hosting Co-location business continues to scale up, with over 56 megawatts rapidly deployed over the last 3 months, providing an additional revenue stream for the company over and above Mawson’s Bitcoin Self-Mining operations.

Mawson’s Australian operations are expected to be fully operational by the end of June, with approximately 5,376 ASIC Bitcoin Miners in place at site, currently operating at 0.2 Exahash, expected to rise to 0.4 Exahash by June 30, producing approximately 1.7 Bitcoin per day from this facility alone based on current network difficulty.

Mawson also this month announced it is to become a 33% shareholder of Tasmania Data Infrastructure Pty Ltd (“TDI”), where Mawson has sold approximately 1975 ASIC Bitcoin Miners and will provide a license for TDI to utilize Mawson’s Modular Data Center and associated technology in exchange for 33% of the equity in TDI. TDI is developing a large scale, 100% renewable energy Bitcoin Mining Facility in Tasmania, Australia. Site works are expected to begin in Q3 2022.

James Manning, CEO and Founder of Mawson, said, "Having now received the final shipment of A1246 ASIC Bitcoin Miners from Canaan, we are now in a position to acquire new Bitcoin Miners at low prices at the appropriate time. This flexibility puts us in a solid position to take advantage of market conditions as they unfold. Our Hosting Co-location has been the focus of the current quarter, we now shift that focus to growing our Self-Mining operations sensibly.”

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.

For more information, visit: www.mawsoninc.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Mawson cautions that statements in this press release that are not a description of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words referencing future events or circumstances such as “expect,” “intend,” “plan,” “anticipate,” “believe,” and “will,” among others. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon Mawson’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, the possibility that Mawson’s need and ability to raise additional capital, the development and acceptance of digital asset networks and digital assets and their protocols and software, the reduction in incentives to mine digital assets over time, the costs associated with digital asset mining, the volatility in the value and prices of cryptocurrencies and further or new regulation of digital assets. More detailed information about the risks and uncertainties affecting Mawson is contained under the heading “Risk Factors” included in Mawson’s Annual Report on Form 10-K filed with the SEC on March 1, 2021 and Mawson’s Quarterly Report on Form 10-Q filed with the SEC on May 16, 2022, and in other filings Mawson has made and may make with the SEC in the future. One should not place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Mawson undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as may be required by law.

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