Mawson Infrastructure execute new customer agreement with Canaan

Mawson Infrastructure Group (MIGI) announced that it has signed a significant new digital colocation customer agreement with Canaan Inc., a NASDAQ-listed publicly traded company (CAN), further growing and expanding its digital colocation business with latest-generation application-specific integrated circuit machines. The new customer colocation agreement executed between Mawson’s President and CEO Rahul Mewawalla and Canaan’s Chairman and CEO Nangeng Zhang on March 21, 2025 is for Mawson to provide Canaan with digital colocation services for about 17,453 latest-generation ASICs at Mawson’s facilities. The initial agreement term is for 3 years and the parties can extend upon mutual agreement. The contract also provides for future potential capacity expansion.