Bitcoin Miner Mawson Resumes Ohio Lease Following Termination Notice

Pennsylvania-headquartered bitcoin mining firm Mawson Infrastructure has resumed a lease in Ohio after previously receiving a termination notice for unimproved property.

Mawson announced on Tuesday that it is expanding into Ohio after securing a lease amendment in Perry County, which is valid through April 2023. The firm stated it is expecting to begin construction but is seeking AI and high-performance computing (HPC) partners to collaborate on the project.

If fully developed, the Ohio site would add 24 MW to Mawson’s power capacity, increasing the total from 129 MW across Pennsylvania sites to 153 MW.

This is not the first time Mawson has attempted to scale up power capacities in Ohio, although it is now shifting towards colocation for AI/HPC customers.

In May 2023, Mawson announced it had entered into a lease agreement for a new site in Corning, Perry County, with an initial capacity of 24 MW, which was expected to become operational in Q3 2023.

According to its 2023 annual report, Mawson Ohio LLC took over a lease agreement for approximately 64,600 square feet of undeveloped land in Corning, Ohio, effective May 1. “The term of the lease is for four years, with an option to extend for five years,” the firm stated in the filing.

However, the site did not develop as planned. On May 9, 2024, Mawson received a notice of termination for “its ground lease on unimproved property located in Perry County, Ohio,” according to its Q1 report.

At that time, Mawson mentioned it was “in discussions about potential options related to the notice and the unimproved property, including options to terminate, retain, modify, or extend the ground lease on the unimproved property.”