Bitcoin mining company Mawson Infrastructure Group said it will suspend major capital expenditures until market conditions return to normal. In addition, the company has voluntarily reduced energy use in light of the market sell-off and high electricity prices due to inflation.
Mawson received the last batch of Canann A1246 ASIC Bitcoin miners in June, and there are no further Bitcoin miners outstanding. CEO and founder James Manning said: “Despite the market volatility, Mawson is currently continuing to mine itself and participate in energy demand response programs where applicable.
Additionally, we are fortunate to have no outstanding contracts to purchase ASIC Bitcoin miners, which allows us to focus on developing our partners.
In its latest monthly update, Mawson disclosed that it has more than 40,000 application-specific integrated circuit (ASIC) Bitcoin miners. The hash rate of these miners is about 3.35 exahash per second, which is about 1.675% of the total hash rate of the Bitcoin network.