The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Kevin Dede - H.C. Wainwright & Co. - Analyst
: Hi, James, Nick, Hetal. Thank you very much for taking my questions. Thanks for hosting the call.
James, apologies for this first one. I understand the target for exahash September, and 5.5 sometime early next year, but I lost you. What was the
hash rate at the end of the March quarter? Was that the 1.8 number or is the 1.8 number the current number?
Question: Kevin Dede - H.C. Wainwright & Co. - Analyst
: Okay, that's May. Okay. What was March end?
Question: Kevin Dede - H.C. Wainwright & Co. - Analyst
: Great. Thanks, Nick. How are you?
Question: Kevin Dede - H.C. Wainwright & Co. - Analyst
: Okay. Can we talk a little bit about the Texas location? What's the climate like? What sort of work do you have to do with ERCOT or are you behind
the meter? What condition is the site in? Just some background there.
Question: Kevin Dede - H.C. Wainwright & Co. - Analyst
: Okay. Listen, I know you have first-hand experience with immersion. But you are thinking that's not going to be a requirement here.
Question: Kevin Dede - H.C. Wainwright & Co. - Analyst
: Okay. The power agreement is through JAI and then to ERCOT or how does that work?
Question: Kevin Dede - H.C. Wainwright & Co. - Analyst
: I see, okay. Just looking at the network overall -- the Mawson network overall, where is your -- on average, where is your cost per power and how
is that going to change as more Georgia comes online and as more Pennsylvania comes online?
Question: Kevin Dede - H.C. Wainwright & Co. - Analyst
: Can you give us a ballpark on where the overall Mawson cost per kilowatt hour is?
Question: Kevin Dede - H.C. Wainwright & Co. - Analyst
: Okay. Fair enough. Thank you, James. Now how about the timeline on your hosting customers' deployment?
Question: Kevin Dede - H.C. Wainwright & Co. - Analyst
: Okay. So all the hosting will be at your two PA sites?
Question: Kevin Dede - H.C. Wainwright & Co. - Analyst
: Okay. Then just to touch on the increase in facility size in Sandersville. So having been there, I -- with Liam's direction, I understand you're going
to clear forest, I think, if I understand it correctly. And I'm just -- I guess you mentioned that you expect deployment there to begin sort of the tail
end of next year. Is that -- did I hear that all correctly?
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MAY 16, 2022 / 9:00PM, MIGI.OQ - Q1 2022 Mawson Infrastructure Group Inc Earnings Call
Question: Kevin Dede - H.C. Wainwright & Co. - Analyst
: Okay. Can we talk a little bit about your philosophy on holding and spending and capital sources, and what you think you're going to need to build
that and Texas out?
Question: Kevin Dede - H.C. Wainwright & Co. - Analyst
: You are -- right, right, right, right, right. Yeah, thank you for reminding me. I appreciate that, Nick. Okay. Let me hop back in the queue. Thank you
for entertaining my questions.
Question: Kevin Dede - H.C. Wainwright & Co. - Analyst
: Sorry, James. Hello, it's me again, Kevin Dede.
There's still a lot of questions, right, to be asked. You talked about a 1-gigawatt pipeline. I was wondering if you could offer some color on the
visibility there? Is that through your partnership with JAI, Quinbrook? How are you sort of getting to a number that large?
Question: Kevin Dede - H.C. Wainwright & Co. - Analyst
: Oh, no, no, no. I wasn't concerned about that. I know you guys are savvy managers. I just -- the word pipeline is vague. And I just was looking for a
little more granularity, which you offered. So thank you very much.
The site in Texas is, I guess, ERCOT supplied. I was wondering if you could talk to the local power sources there and how you might consider the
power mix in terms of natural gas or renewables.
Question: Kevin Dede - H.C. Wainwright & Co. - Analyst
: No problem. Thank you. I know I've got --
Question: Kevin Dede - H.C. Wainwright & Co. - Analyst
: Okay. Fair enough. Thanks, James. Your team at Mawson has had a close affiliation with Canaan for a long time. I'm wondering, given a host of new
entrants, what you've investigated in terms of exploring alternative machine sources.
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