Cleanspark Boosts Mining Operations with $25.8 Million Georgia Facility Acquisition

Cleanspark Inc. will purchase five additional bitcoin mining facilities in Georgia for $25.8 million. By the end of the month, the company’s operating hashrate will have increased to above 20 EH/s thanks to this calculated action, which is anticipated to shut shortly.

When fully operational, the recently purchased facilities, which range in size from 8 to 15 megawatts (MW), would bring Cleanspark’s entire infrastructure in Georgia up to around 400 MW. Interruptible-load power purchase agreements are part of the transaction, which gives local electric municipal cooperatives better load balancing capabilities.

Cleanspark currently operates infrastructure in Georgia, Mississippi, and New York, with plans for additional locations in Wyoming. Zach Bradford, CEO of Cleanspark, highlighted the significance of this acquisition for the company’s growth strategy. “These sites not only enhance the load balancing capabilities for the local cities we work with, but lock in the achievement of our mid-year target of achieving 20 EH/s of operating hashrate,” Bradford detailed.

Driving Innovation and Shareholder Value

The new facilities will employ the latest generation S21 pro miners, contributing to an anticipated combined hashrate of 3.7 EH/s. This acquisition aligns with Cleanspark’s broader strategy to explore nearly one gigawatt of new opportunities, aiming to drive innovation and increase shareholder value in the bitcoin mining industry.

Cleanspark’s persistent growth is indicative of its dedication to augmenting its operational capability and technological advantage. The firm is presenting itself as a major participant in the cryptocurrency mining industry, with ambitions for continued development and a presence in many states.

Cleanspark intends to strengthen its position in the market by acquiring these additional facilities. The company’s commitment to sustainable growth and operational efficiency is demonstrated by its strategic investments and mining technology breakthroughs.

With this purchase, Cleanspark has reached a significant turning point in its development, allowing it to meet its aggressive hashrate goals and solidify its position in the quickly changing bitcoin mining industry.