Crypto mining firm Mawson Infrastructure Group will be exiting Texas following an $8.5-million sale of its local subsidiary as well as lease agreements and contracts related to operating in the state.
In an April 19 announcement, Mawson said it had arranged the sale of its subsidiary Luna Squares Texas to Singapore-based fund manager M Turing VCC Oracle (NYSE:ORCL) Phase 1 Fund for $8.5 million in cash and stablecoins. CEO James Manning said the sale was conducted as part of a strategy to focus the company’s operations in Pennsylvania and reduce existing debt.
