As with the Richter scale, an increase of one step on this logarithmic scale corresponds to a 101.5 ≈ 32 times increase in the amount of energy released, and an increase of two steps corresponds to a 103 = 1000 times increase in energy.
For example, an earthquake with a moment magnitude of 7.0 is 5.62 times greater than a quake with moment magnitude 6.5.