Australian fintech company leases land in Midland

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

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

Mawson intends to house its Modular Data Centre at the site. The center’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 50MW. The company plans to purchase the majority of its energy from renewable and noncarbon emitting sources.

“We are very happy to have secured another large site in a market environment where large scale power infrastructure is becoming scarce,” James Manning, Mawson founder and CEO, said. “This opportunity brings a substantial already-installed power infrastructure, reducing our cost per MW and maximizing our speed to deploy. This site, combined with our flagship Georgia site, underpins our target of securing 5000 PH by early 2023.”

Development is scheduled to begin this month, and the center is expected to be operational late this year or early 2022.

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