Currently, Mawson’s (NASDAQ:MIGI) stock could be ready for movement, especially when comparing these numbers to other major players in the space. And this doesn’t take into account the potential growth of the market as a whole, whose future looks healthy.
Mawson is currently in the midst of aggressively expanding its operations. It is growing its Georgia facility to 100 megawatts (MWs) by Q1 2022, with substantial capacity to expand over the course of 2022 and beyond, and has just entered into a 15 year lease for a 100 MW facility in Pennsylvania, which also has significant capacity to expand over the course of 2022 and beyond. The company should have a 5,000 petahash capacity online by early 2023, putting it in league with the likes of Riot Blockchain Inc (NASDAQ:RIOT) and Marathon Digital Holdings (NASDAQ:MARA), two giants of the industrial Bitcoin mining industry.
A key advantage Mawson has over its competitors is efficiency. And in Bitcoin mining, efficiency is king. The company has a blended power cost across its operations of less than $0.04, an incredibly low energy cost. And most importantly, its cost to deploy its miners is significantly less than its competitors. The key to this lies in the company’s use of what it calls MDC — or Modular Data Centers — highly efficient, standardized, and modular support infrastructure – the intellectual property of which belongs to Mawson. With this, Mawson boasts a dollar per petahash of just $381,664. Compare that to the average of its competitors: $962,555.
As it stands, Riot has a market cap of $2.5 billion. That’s over 3.5 times Mawson’s current cap. The gap between Mawson and Marathon is even larger. Marathon’s cap is sitting at $4 billion, or 5.7 times Mawson’s. This gulf in valuations, despite Mawson’s efficiency advantage, could indicate an opportunity for the company’s stock.
And, if that weren’t enough, Mawson just uplisted to NASDAQ from the OTC Markets, joining Riot and Marathon.
With this in mind, the opportunity presented to investors may be compelling for some: Mawson could be primed for major growth. And with the company’s commitment to ESG efforts and using sustainable energy assets, investors’ wallets and consciences might both be happy.