Month: March 2022

Mawson Infrastructure Group Announces Record FY 2021 Revenue of $43.9 Million, up 886%; Record Gross Profit of $34 Million, up 2526%, and Record non-GAAP EBITDA of $17.9 Million

Source: Mawson Infrastructure Group

Mawson Infrastructure Group Inc. (NASDAQ:MIGI) (“Mawson”), a digital infrastructure provider, is pleased to announce financial highlights and financial results, for the fourth quarter and full year ended December 31, 2021.

James Manning, CEO and Founder of Mawson Infrastructure, said, “FY 2021 was a transformational year for our business. We significantly increased our Bitcoin self-mining operational footprint, producing a record 808 Bitcoin, increased revenue 886% to $43.9 million, increased our gross profit 2526% to $34.0 million, and posted a record $17.9 million of non-GAAP EBITDA.

We also successfully launched our Luna Squares hosting co-location business, signed a new large-scale facility in Midland, Pennsylvania and materially expanded the size of our Sandersville, Georgia Bitcoin mining facility. We also launched our first Australian facility in 2021 as well as listing on the Nasdaq late in Q3.

The Mawson team have put in a phenomenal effort these past 12 months and for that I am very grateful. We enter 2022 with a large bitcoin self-mining business, and a large scale hosting co-location business and I’m very excited for what 2022 has in store.”

Q4 2021 Financial and Business Highlights

  • Revenue of $19.6 million compared to $10.9 million in Q3 2021, up 79%
  • Gross profit of $16.0 million, compared to $8.4 million in Q3 2021, up 89%
  • Non-GAAP EBITDA of $10.0 million, compared to $3.3 million in Q3 2021, up 203%
  • Record 0.83 Exahash online reached on 22nd December 2021
  • Stage 2 of 100 megawatt expansion at Georgia Bitcoin mining facility ongoing
  • First Australian Bitcoin mining facility operational, in partnership with Quinbrook Infrastructure Partners
  • Purchased an additional 4,000 latest generation ASIC bitcoin miners
  • Mawson’s Luna Squares LLC hosting co-location business, utilizing the company’s Modular Data Centre (MDC) technology continues to expand
  • Mawson joins the Bitcoin Mining Council
  • Cosmos Asset Management launches ‘DIGA’ – The Cosmos Global Digital Miners Access ETF in Australia

About Mawson Infrastructure

Mawson Infrastructure Group (NASDAQ: MIGI) is a digital infrastructure provider, with multiple operations throughout the USA and Australia. Mawson’s vertically integrated model is based on a long-term strategy to promote the global transition to the new digital economy. Mawson matches sustainable energy infrastructure with next-generation mobile data centre (MDC) solutions, enabling low-cost Bitcoin production and on-demand deployment of infrastructure assets. With a strong focus on shareholder returns and an aligned board and management, Mawson Infrastructure Group is emerging as a global leader in ESG focused Bitcoin mining and digital infrastructure.

For more information, visit: www.mawsoninc.com

Phoenix Tower International to Acquire 3200 Towers from Cellnex Telecom in France

Source: Phoenix Tower International

March 21, 2022

Phoenix Tower International (“PTI”) today announced that it has completed a definitive agreement — subject to the French Competition Authority (“FCA”) approval — with Cellnex Telecom to acquire 1,226 telecommunications sites in very dense areas in France adding SFR as a second major MNO client of PTI in France. Simultaneously, PTI with its Joint Venture Partner Bouygues Telecom will be acquiring 2,000 sites in very dense areas.  Both transactions relate to the French Competition Authority remedies that followed Cellnex’ acquisition of Hivory last year. 

With these latest transactions along with its previously announced build program with Bouygues Telecom, PTI will own and operate over 5,000 sites in France in the coming years making it one of the largest independent wireless infrastructure providers in the country.

“With these transactions and our recent closing of more towers in the French West Indies, PTI expands its presence in France, one of the most dynamic telecom markets in Europe. PTI’s growth will continue facilitating coverage deployments for all French wireless operators across the country. We are pleased to have collaborated with the professionals at Cellnex on this transaction.” stated Dagan Kasavana, CEO of PTI.

“These various transactions continue to strengthen PTI’s commitment to France and the European Market.  We are excited to enhance our relationship with Bouygues Telecom and expand the independent tower model in France which will be a catalyst for improved coverage for all carriers” said Tim Culver, Executive Chairman of PTI.

Freshfields Bruckhaus Deringer and Natixis acted as advisors to PTI. Herbert Smith Freehills acted as Cellnex advisors.

About Phoenix Tower International

PTI, through its subsidiaries, will, pro forma for these transactions, own and operate over 18,000 telecom towers throughout Europe, the United States, Latin America and the Caribbean. In Europe, PTI is present in several countries including France, Italy, Ireland, Malta and Cyprus.

PTI was founded in 2013 with a mission to be a premier site provider to wireless operators across the world in high-growth markets. PTI’s investors include funds managed by Blackstone and various members of the management team and is headquartered in Boca Raton, Florida. For more information, please visit www.phoenixintnl.com

About Cellnex Telecom

Cellnex manages a portfolio of more than 130,000 sites —including forecast roll-outs up to 2030— in Spain, Italy, the Netherlands, France, Switzerland, the United Kingdom, Ireland, Portugal, Austria, Denmark, Sweden and Poland. Cellnex’s business is structured in four major areas: telecommunication infrastructures services; audiovisual broadcasting networks; security and emergency service networks and solutions for smart urban infrastructure and services management. The company is listed on the continuous market of the Spanish stock exchange and is part of the selective IBEX 35 and EuroStoxx 100 indices. For more information: www.cellnex.com

Uniti Bid Extends Morrison & Co’s Digital Infrastructure Spree

Source: The Financial Review

HRL Morrison & Co, the investment group that has made a $3 billion bid for broadband services company Uniti, has described the digital industry as a “critical building block of society” as it snaps up more assets.

Morrison & Co’s chief investment officer, William Smales, told investors in Infratil – the firm’s listed infrastructure group – last month that digital services were becoming essential to every facet of modern life, from entertainment to banking to transport.

Assets targeted by Infratil include data centres, integrated telecommunications companies, mobile towers, wireline networks, subsea cables, satellites and small cell networks.

Mr Smales argued that demand for data networks would continue to increase as organisations shift information off worksites onto cloud infrastructure, partially for security but also so that they can share information easily, and consumers use more technology in their daily life.

Data centres are considered to be valuable assets because they typically have long-term contracts with customers and are expensive to set up.

If the Uniti takeover bid is successful, it will strengthen Morrison & Co’s foothold in digital infrastructure. The investment group has already acquired a 49.9 per cent stake in Vodafone New Zealand, as well as a 49 per cent share of Amplitel, the rebranded Telstra InfraCo Towers business. Amplitel is the biggest mobile tower provider in Australia with some 8200 towers.

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It also owns most of Canberra-headquartered CDC Data Centres, has a 40 per cent stake in the UK’s Kao Data Centres and has taken a 72.5 per cent interest in the Netherlands’ Fore Freedom, which develops and operates fibre-to-the-premises networks.

Other big investment funds like QIC are also prioritising investment in digital infrastructure, with the Queensland investment group singling out “real assets” as increasingly important as inflation rises.

The cash flows of infrastructure assets typically improve as inflation increases because regulated asset operating arrangements usually allow for higher returns when consumer price indexes go up.

Australia’s NAB has estimated that global private investment in digital infrastructure and telecoms has grown rapidly from less than $US1 billion in 2010 to more than $US90 billion ($118 billion) a year.

Meanwhile, Macquarie Capital, which is also making substantial investments in data centre groups like AirTrunk, has argued that infrastructure is increasingly being considered as an asset that enables the movement of data, not just the movement of people.

Uniti will hold exclusive talks with Morrison & Co until late April after the investment group made an indicative takeover offer of $4.50 in cash per share.

The takeover target said on Tuesday that shareholders should not take any action on the proposal and that it would update investors “in due course”.

Analysts had been optimistic about Uniti’s financial outlook before the takeover bid was announced on Tuesday. Bell Potter released a research note on Uniti on Monday with a 12-month price target of $4.50 and a buy recommendation, but has not forecast any dividend payments over the next three years.

Bell Potter analyst Chris Savage said Uniti aimed to provide an alternative to the NBN but cautioned it is facing competition from alternative suppliers of broadband internet connectivity services, including resellers of NBN and mobile operators delivering 4G cellular services and eventually 5G services.

AST SpaceMobile Announces Multi-Launch Agreement with SpaceX for Planned Direct-to-Cell Phone Connectivity

Source: AST SpaceMobile

MIDLAND, Texas–(BUSINESS WIRE)–Mar. 9, 2022– AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by standard mobile phones, today announced it has signed a multi-launch agreement with Space Exploration Technologies Corp. (“SpaceX”). In addition to the planned summer launch of the BlueWalker 3 test satellite (BW3), the agreement covers the launch of the first BlueBird satellite and provides a framework for future launches.

“This agreement secures the availability for a reliable launch of our first production satellites out of the U.S.,” said AST SpaceMobile Founder, Chairman and CEO Abel Avellan. “Our summer launch of BlueWalker 3 will complete the development phase for our company. We have also been industrializing our technology and preparing for the launch of the BlueBird satellites, with this agreement as a key step.”

The BW3 satellite is slated to launch from Cape Canaveral on a Falcon 9 vehicle. The satellite has an aperture of 693 square feet and is designed to communicate directly with cell phones via 3GPP standard frequencies.

The BlueBird satellites are designed to be compatible with the Falcon 9 vehicle, as well as other existing and planned industry launch vehicles. These production satellites are designed to provide broadband commercial service directly to cell phones, without any additional hardware or software on the phone. At full capacity, AST SpaceMobile expects to be able to assemble up to six BlueBird satellites per month at its Texas manufacturing facilities, which offer a combined 185,000 of square footage.

AST SpaceMobile’s mission is to eliminate the connectivity gaps faced by today’s five billion mobile subscribers moving in and out of coverage zones, and bring cellular broadband to approximately half of the world’s population who remain unconnected. Partners in this effort are leading global wireless infrastructure companies, including Rakuten Mobile, Vodafone and American Tower.

About AST SpaceMobile

AST SpaceMobile is building the first and only global cellular broadband network in space to operate directly with standard, unmodified mobile devices based on our extensive IP and patent portfolio. Our engineers and space scientists are on a mission to eliminate the connectivity gaps faced by today’s five billion mobile subscribers and finally bring broadband to the billions who remain unconnected. For more information, follow AST SpaceMobile on Facebook, Twitter, LinkedIn and YouTube. Watch this video for an overview of the SpaceMobile mission.

Forward-Looking Statements

This communication contains “forward-looking statements” that are not historical facts, and involve risks and uncertainties that could cause actual results of AST SpaceMobile to differ materially from those expected and projected. These forward-looking statements can be identified by the use of forward-looking terminology, including the words “believes,” “estimates,” “anticipates,” “expects,” “intends,” “plans,” “may,” “will,” “would,” “potential,” “projects,” “predicts,” “continue,” or “should,” or, in each case, their negative or other variations or comparable terminology.

These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside AST SpaceMobile’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (i) expectations regarding AST SpaceMobile’s strategies and future financial performance, including AST’s future business plans or objectives, expected functionality of the SpaceMobile Service, anticipated timing and level of deployment of satellites, anticipated demand and acceptance of mobile satellite services, prospective performance and commercial opportunities and competitors, the timing of obtaining regulatory approvals, ability to finance its research and development activities, commercial partnership acquisition and retention, products and services, pricing, marketing plans, operating expenses, market trends, revenues, liquidity, cash flows and uses of cash, capital expenditures, and AST’s ability to invest in growth initiatives; (ii) the negotiation of definitive agreements with mobile network operators relating to the SpaceMobile service that would supersede memoranda of understanding; (iii) the ability of AST SpaceMobile to grow and manage growth profitably and retain its key employees and AST SpaceMobile’s responses to actions of its competitors and its ability to effectively compete; (iv) changes in applicable laws or regulations; (v) the possibility that AST SpaceMobile may be adversely affected by other economic, business, and/or competitive factors; (vi) the outcome of any legal proceedings that may be instituted against AST SpaceMobile; and (vii) other risks and uncertainties indicated in the Company’s filings with the SEC, including those in the Risk Factors section of AST SpaceMobile’s Form S-1 Registration Statement filed with the SEC on June 25, 2021 (File No. 333-257425) as well as the Risk Factors contained in Part II, Item 1A of AST SpaceMobile’s Form 10-Q dated August 16, 2021.

AST SpaceMobile cautions that the foregoing list of factors is not exclusive. AST SpaceMobile cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk Factors incorporated by reference into AST SpaceMobile’s Form S-1 Registration Statement filed with the SEC on June 25, 2021 (File No. 333-257425) as well as the Risk Factors contained in Part II, Item 1A of AST SpaceMobile’s Form 10-Q dated August 16, 2021. AST SpaceMobile’s securities filings can be accessed on the EDGAR section of the SEC’s website at www.sec.gov. Except as expressly required by applicable securities law, AST SpaceMobile disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Sunstone Provides a Comprehensive Summary of Broadband Funding Programs

Which Public Funding Opportunities Should I Be Paying Attention To? With more than $100B in total public financing opportunities available, this is an inflection point event for our industry.

This document outlines the current status of major broadband programs that have the potential for transformative change within a region as result of ongoing public support for broadband deployment aka “Needle Movers.”

Programs are grouped according to their status:
• Closed/ In award: Programs that are currently in award stage and could likely facilitate 2022 deployment
• Currently in play: Programs that are still open to application during 2022
• Forthcoming: Known major programs that have not yet opened application windows but will likely see significant activity in 2022

To Obtain a Copy of the Report, contact:

Download of the Week — The March “Needle Movers”

We are seeing updates in the broadband programs from our January update on “Needle movers”. 

As a result, we have updated our materials on Broadband Funding programs as of March 2022. If you’d like to download a copy of the free material, please use the following link: Sunstone Needlemovers

cell tower against sunset sky

Deutsche Telekom Preparing Sale of Radio Tower Business

Source: Reuters

BERLIN, Dec 19 (Reuters) – Deutsche Telekom (DTEGn.DE) hopes to sell its radio tower business as soon as the first quarter of next year, Handelsblatt reported on Sunday, citing unnamed sources familiar with the matter.

The telecoms business would be open for offers for a minority or majority stake, the German newspaper reported, estimating the valuation of the division at up to 20 billion euros ($22.48 billion). The company aims to have a sale in progress by the end of the first quarter of next year, it said.

Deutsche Telekom did not immediately respond to a request for comment on the report.

CEO Tim Hoettges said in November he was open to finding an industrial partner for the company’s towers infrastructure, days after Vodafone (VOD.L) said it would consider opportunities for such a move for its recently-listed towers business.

“I’d love to have an industrial partner and I’m willing to deconsolidate,” Hoettges said in November, adding he wanted to retain a role in the decision making that would follow a deal, particularly in influencing any further mergers and acquisition.

Vodafone New Zealand Said to Seek $1 Billion Towers Sale

Source: Bloomberg

Vodafone New Zealand Ltd. is seeking prospective buyers for its wireless phone towers that provide coverage to about 98% of the country’s population, according to a pitch sent to potential investors.

The Auckland-based telecommunications business is disposing of about 1,487 mobile cell sites that are expected to generate Ebitda of more than NZ$50 million ($34 million) in the financial year starting April 1, the presentation seen by Bloomberg News showed.

The assets, viewed as New Zealand’s largest tower portfolio, could be valued at as much as NZ$1.5 billion, a person familiar with the matter said separately, asking not to be identified as the process is private. 

A representative for Vodafone New Zealand declined to comment. 

A transaction, if successful, would follow a spate of towers auctions in neighboring Australia last year that capitalized on demand for such holdings. Pension funds and asset managers flush with cash find digital infrastructure appealing because of growth and assured long-term returns they offer.

Australia’s two largest telecommunications providers, Telstra Corp. and the local unit of Singapore Telecommunications Ltd., sold all or part of their phone tower assets last year, garnering $2.1 billion and $1.4 billion, respectively. Last month, Spark New Zealand Ltd. announced plans to separate its cell sites into a new subsidiary and explore the introduction of outside capital. 

Vodafone New Zealand is owned by Wellington-based Infratil Ltd. and Brookfield Asset Management Inc., which purchased the local unit of Vodafone Group Plc in 2019 for NZ$3.4 billion but left the name unchanged. The towers on sale have an average lease term of about 13 years, while 290 more sites will be added by the year ending March 2027, the presentation showed.

Infratil said in November that it was weighing “network capital release options” for the business. Vodafone New Zealand is working with Barrenjoey Capital Partners and UBS Group AG on the process, according to the pitch. The two banks didn’t immediately respond to requests for comment.