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Based on the use of current-generation Bitcoin mining hardware, those new services, which will be owned and operated by Mawson, can accommodate up to 2. 0 Exahash of Bitcoin mining operational capacity. TPL and JAI will earn net royalties and retain an option. to win a share. Mawson intends to take part in the demand for reaction systems as part of its electric power source strategy and is comparing renewable solutions behind the meter. Mawson and JHA have 4 planned locations in Texas, two of which are on the surface of TPL. Construction is expected to begin in the current quarter of 2022 and operations are expected to begin in the fourth quarter of 2022.
“This assignment marks the beginning of TPL’s adventure towards bitcoin, and we are fortunate to collaborate with Mawson and JAI as two highly valued corporations in the bitcoin mining industry,” said Tyler Glover, CEO of TPL. Texas can serve as a selection destination for the bitcoin mining industry, providing sites close to existing grid infrastructure and fair sun and wind resources for long-term renewable energy supply. our exclusive asset base, our relationships with industry and our customers, and the region’s abundance of energy. For TPL, our shareholders will gain advantages from a single royalty flow while retaining the opportunity to participate as a monetary partner.
“Texas is fast becoming a hot new destination for Bitcoin mining in the United States, and we look to the future to build ourselves in this state,” said James Manning, CEO and founder of Mawson. “Community engagement and sustainability are vital priorities for Mawson, and we look forward to being a guilty corporate citizen in the communities in which we operate. We are excited to have partnered with JHA and TPL, and our combined efforts and skills will provide significant opportunities for long-term development. “
“We are excited to partner with TPL and Mawson to bring bitcoin mining to Texas,” said Justin Ballard, founding spouse of JAI Energy. “As a former oil and fuel industry professional, I bitcoin can be a wonderful complement to the oil sector and, together, succeed. In addition, it is incredibly valuable for the entire Bitcoin mining area to see an organization like TPL get involved in the industry. JAI Energy strives to teach electric corporations and owners about the benefits of Bitcoin mining. it can bring, and we applaud TPL for being a leader and seizing the opportunity to participate in this emerging industry.
Forward-Looking Statements
Certain topics contained in this press release come with “forward-looking statements. “All statements, other than statements of old facts, included in this press release would possibly constitute forward-looking statements. Although we know that the expectations reflected in those forward-looking statements are reasonable, we cannot guarantee that those expectations will prove to be accurate. These forward-looking statements are subject to certain known and unknown threats and uncertainties, as well as assumptions that may also cause actual effects to differ materially. of which are reflected in such forward-looking statements. Factors that may also cause actual effects to differ come with, but are not limited to, the threat points discussed from time to time in each of our SEC filings and reports.
Readers are cautioned to place undue reliance on the forward-looking statements contained in this press release, which reflect the prospects for control only as of the date hereof. Except as required by law, we assume no legal responsibility to review or disclose the effects of any revision of any forward-looking statements.
About the Texas Pacific Land Corporation
Texas Pacific Land Corporation (NYSE: TPL) is one of the largest landowners in the state of Texas with approximately 880,000 acres of land in West Texas, with most of its homes concentrated in the Permian Basin. The Company is not an oil and fuel company. producer, however, its dominance of the surface and ownership of royalties generate revenues in the price chain of oil and fuel progression, which are added up through constant royalty bills for the use of our land, income from sales of fabrics (caliche) used in the construction of infrastructure, the provision of spring and processed production water, revenue from our oil and fuel royalty rights, and revenue from the disposal of salt water on our lands. land uses, adding intermediate infrastructure projects and hydrocarbon processing facilities.
About the Mawson Infrastructure Group
Mawson Infrastructure Group (NASDAQ: MIGI) is a virtual infrastructure provider, with operations in the United States and Australia. Mawson’s vertical integration style is based on a long-term strategy to herald the global transition to the new virtual economy. Mawson combines sustainable energy infrastructure with state-of-the-art cellular knowledge center (MDC) solutions, enabling low-cost bitcoin production and on-demand deployment of infrastructure assets. in virtual infrastructure and Bitcoin mining focused on ESG.
For information, please visit: www. mawsoninc. com
About JAI Energía
JAI Energy was created in particular to mine and supply Bitcoin mining facilities for programs involving blocked, burned, and uneconomical herbal fuel flows. JAI Energy has its own mining farm located in Wyoming, lately the largest Bitcoin mining farm in the state. JHA also provides answers to producers, teams of intermediaries, and energy suppliers to allow them their excess energy. JHA is founded in Casper, Wyoming, where all of its portable mining knowledge centers are also manufactured.
For information, visit: https://jaienergy. com/.
See the businesswire. com edition: https://www. businesswire. com/news/home/20220516005384/en/
Contacts
Investor Relations TPLIR@texaspacific. com
Investor Relations Mawsonbrett@haydenir. com
JHA Energyjustin@jaienergy. com