Bitcoin miner Mawson Infrastructure has agreed to sell its sites in Texas to Mainnet Capital's M Turing VCC Oracle Phase 1 Fund for $8.5 million in cash and stablecoins. The deal involves Luna Squares Texas LLC, which owns contracts and leases for sites in Midland, Texas.

Mawson plans to use the proceeds for debt reduction and funding expansions across its other sites, including acquiring more mining rigs.

The company expects to have sufficient infrastructure to support 4.2 exahash/second of mining computing power by the end of Q2, after shedding weight from its operations to focus on Pennsylvania.