Crypto Miner Mawson Sees Hashrate Topping 1 EH/s by Month-End

Australian crypto miner Mawson Infrastructure Group said it is operating above 1 exahash per second (EH/s) and on track to reach 1.1 EH/s by the end of January.

The 1.1 EH/s rate would be about 38% higher than its computing power in November, the company said in a statement.Mawson’s computing power is about 0.6% of the Bitcoin network’s hashrate of about 162.6 EH/s as of Jan. 18, according to data analytics firm Glassnode.The miner also said it’s producing 5.8 bitcoins a day and is on track to increase its hashrate to 3.35 EH/s by the second quarter and 5 EH/s by first-quarter 2023.In comparison, one of its largest rivals, Marathon Digital, said in December that its computing power was 3.5 EH/s, on track to reach 23.3 EH/s by early 2023.“Our operational expansion continues at pace, with both our Georgia and Pennsylvania facilities ramping up rapidly – this is a tremendous achievement from our team given the current bottle-necks in global supply chains,” said the CEO and founder of Mawson, James Manning.On Dec. 29, newly launched Gem Mining said it reached a hashrate of 1.25 EH/s, producing 6.5 bitcoins per day.Shares of Mawson (Nasdaq: MIGI) have fallen about 25% this year along with its rivals amid a broader crypto market sell-off.