Texas Pacific Land Corporation (NYSE: TPL), Mawson Infrastructure Group Inc. (NYSE: MIGI), and JAI Energy have come together to develop 60 megawatts of Bitcoin mining on TPL’s surface in West Texas.
This strategic alliance will mark the beginning of TPL’s journey into Bitcoin. The agreement conditions are as follows: Mawson the owner and operator of the Bitcoin hardware could accommodate up to 2.0 Exahash of Bitcoin mining operational capacity. TPL and JAI will then earn net royalty interest and keep an option to acquire an equity stake in Mawson.
Currently Mawson and JAI have four locations planned to be developed in Texas along with two located on TPL’s surface. Operations are likely to begin in the fourth quarter of 2022.
“We believe TPL’s extensive surface footprint in West Texas can serve as a premier destination for the Bitcoin mining industry, providing site locations proximate to existing grid infrastructure and excellent solar and wind resources for future renewable power procurement,” said Tyler Glover, CEO of TPL.
Oil and Gas in Texas seem to be a rapidly emerging opportunity for Bitcoin mining in the United States. “As a former long-time professional in the oil and gas industry, I believe that Bitcoin can serve as a great compliment to the oil patch and together achieve success,” says Justin Ballard, founding partner of JAI Energy.
About Texas Pacific Land Corporation
Texas Pacific Land Corporation is a real estate operating company and one of the largest landowners in Texas with around 880,000 acres of land. Generating revenue from the value chain of oil and gas development through fixed-fee payments and contractual agreements among operations that take place on their land.
About Mawson Infrastructure Group
Mawson Infrastructure Group is a digital infrastructure provider, with multiple operations throughout the USA and Australia. Mawson is focused on promoting the global transition to the new digital economy and is emerging as a global leader in Bitcoin mining and digital infrastructure.
About JAI Energy
JAI Energy was launched specifically to mine Bitcoin and provide Bitcoin mining services for applications involving stranded, flared, and poor economic natural gas streams. JAI also provides solutions for energy providers that want to capture value from their excess energy.