📊 FINANCIAL RESULTS: Mawson Infrastructure Group Inc. (NASDAQ: MIGI) Reports Strong FY 2024 Results with Significant Growth Across the Business
We are excited to share our outstanding fiscal year 2024 financial results, marking a transformational year for Mawson as we continue our journey as a leading digital infrastructure platform company:
💹 136% Y/Y Revenue Growth in our Digital Colocation Business to $38.5 million
⚡ 42% Y/Y Revenue Growth in our Energy Management Business to $7.6 million
📈 36% Y/Y Overall Revenue Growth to $59.3 million
💰 35% Y/Y Increase in Overall Gross Profit to $20.3 million
✅ Generated positive cash flows from operations and was net cash flow positive at year-end
Our operational achievements were equally impressive:
🚀 31% Y/Y increase in Operating Hash Rate to 4.98 EH/s
🏢 Expanded current operational capacity to 129 MW (100% carbon-free energy) with an additional 24 MW under development
👥 Grew our digital colocation business to multiple enterprise-grade customers
🖥️ Successfully expanded into artificial intelligence (AI) and high-performance computing (HPC) markets
🧠 Strengthened our management and technology team with expertise from Apple, Amazon Web Services, Nokia, Yahoo, T-Mobile, and other technology leaders
We've successfully transformed Mawson into a multi-tenant digital infrastructure platform serving enterprise-grade customers across artificial intelligence, high-performance computing, digital assets, and other computing markets.
Looking forward to continuing this momentum through 2025!