• Mawson Infrastructure Group, Inc., announced that the firm has broken ground at a new site in Sharon, Pennsylvania.
• The new Mawson site is capable of reaching 4.2 exahash per second (EH/s) when fully complete and will be divided into self-mining and hosting services.
• Mawson’s two bitcoin mining sites combined will produce an estimated 7.8 exahash per second (EH/s).
Mawson Infrastructure Group Launches Bitcoin Mining Operation in Pennsylvania
Mawson Infrastructure Group, Inc., recently announced that the firm has broken ground at a new site in Sharon, Pennsylvania for its bitcoin mining operation. Reports detail that six modular production units have been delivered to the site capable of housing 3,528 application-specific integrated circuit (ASIC) bitcoin miners that consume 12 megawatts (MW) of capacity. When fully complete, the facility is expected to reach 4.2 exahash per second (EH/s).
Sharon Site Divided Into Self-Mining and Hosting Services
The Sharon mining operation will be divided between self-mining and Mawson’s hosting services. The first six modules are expected to become operational during the next quarter with the remaining 120 megawatts coming online throughout 2023 and into early 2024 according to Mawson’s Chief Operating Officer Liam Wilson.
Midland Site Also Operational
In addition to the Sharon facility, Mawson also operates a 100-megawatt site in Midland, Pennsylvania which together with Sharon produces an estimated 7.8 exahash per second (EH/s).
Bitcoin Market Performance
The current market performance of bitcoin has been positive over the past few months resulting in an all-time high difficulty rate this week at 43.05 trillion hashes despite some mining operations experiencing losses due to downturns earlier this year.
Robert Kiyosaki’s Investment Advice
• Famous author Robert Kiyosaki has warned that investing in a well-diversified portfolio of stocks, bonds, mutual funds and exchange-traded funds (ETFs) is „very risky“ advice.
• Kiyosaki recommends gold, silver, and bitcoin as the best investments for „unstable times“.
• He believes that financial planners are “henchmen for banks and mutual funds” and recommends avoiding paper gold or silver ETFs.
Background on Robert Kiyosaki
The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has been giving investment advice for years now. His 1997 book co-authored with Sharon Lechter has been on the New York Times Best Seller List for over six years and 32 million copies have been sold in 51 languages across 109 countries.
Risky Advice to Avoid
Kiyosaki has previously said that investing in stocks, bonds, mutual funds or ETFs is “very risky” advice. He calls rookie investors who follow this advice “morons” and instead recommends buying gold, silver, or bitcoin “as insurance against morons running the world”. He also doesn’t believe in paper gold or silver ETFs because they are a ripoff. Financial advisors who recommend these investments to customers take their money and use it to get richer while charging them fees at the same time.
Predictions For 2025
Kiyosaki predicted last December that owners of gold, silver and bitcoin will get richer when the Federal Reserve pivots and prints trillions of dollars. By 2025 he predicts that gold will be at $5 000; silver at $50; and bitcoin prices will go up and down depending on market conditions.
Many people on Twitter disagreed with Kiyosaki’s views about stocks, bonds etcetera being very risky investments Some accused him of pumping Bitcoin for personal gain but he denies this claim.
• Solana (SOL) and Cardano (ADA) prices plunged during today’s session, with bears recapturing market sentiment.
• SOL/USD moved to an intraday low of $20.20 earlier in the session, dropping to its lowest point since January 19.
• ADA/USD dropped to an intraday low of $0.3558 earlier today, slipping to its weakest point since January 25.
Biggest Movers: SOL and ADA Plunge
Cryptocurrency markets remain firmly bearish as global market cap is trading 4.23% lower at the time of writing this. Both Solana (SOL) and Cardano (ADA) have taken a hit, plunging during today’s session as bears recapture sentiment.
SOL/USD moved to an intraday low at $20.20 earlier in the session, which resulted in the token hitting its lowest point since January 19 when solana last collided with a floor at $20.00. Since hitting a peak of 87.67 on the 14-day relative strength index (RSI) back on January 13, price strength has consistently declined, now tracking at 44.21 – its weakest point since January 2 when SOL was under $10.00..
Cardano also extended its own recent sell-off on Friday, with prices falling for a third straight session and reaching an intraday low of $0.3558 earlier today after peaking at $0.3896 on Thursday – resulting in the token slipping to its weakest point since January 25 and breaking out of a floor at $0.3590 in the process..
As bulls move to buy the dip in price following Cardano’s drop from support levels, longer-term investors may see this as a sign that prices are gradually moving in the right direction as RSI levels out at 46:70 with cardano currently at $0:3611..
The current bearish momentum seen across cryptocurrency markets presents both short-term challenges and long-term opportunities for investors looking to capitalize on market movements over time. If Solana’s floor on RSI continues to hold firm there could be potential for further upside growth over the week ahead for both SOL and ADA tokens alike