TPL, JAI Energy and Mawson Form Alliance for New Bitcoin Mining Venture

Texas Pacific Land Corporation (TPL) has formed a strategic alliance with Mawson Infrastructure Group and JAI Energy to develop up to 60 megawatts of bitcoin mining on TPL’s surface in the western part of Texas.

As per the ongoing usage of current generation Bitcoin mining hardware, these new facilities, owned and functioned by Mawson, will be able to accommodate up to 2.0 Exahash of Bitcoin mining functioning capacity. 

TPL and JAI will benefit from a net royalty interest and have an option to acquire an equity stake. Mawson aims to participate in demand response programs, which is a part of its power procurement strategy, and is examining behind-the-meter renewable solutions. 

Of the four locations planned in Texas, two are located on TPL’s surface. The project is planned to break ground in the second quarter of 2022, and operations are targeted to commence in the last quarter of 2022.

“This project marks the beginning of TPL’s journey into bitcoin, and we are fortunate to collaborate with Mawson and JAI as two highly regarded companies in the bitcoin mining industry,” said Tyler Glover, CEO, TPL. “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 resource for future renewable power procurement. We are aligned to see this venture succeed and scale as we look to leverage our unique asset base, industry and customer relationships, and the region’s energy abundance. For TPL, our shareholders will benefit from a unique royalty stream while retaining an option to participate as an equity partner.”