New Facilities Set to Boost Operating Hashrate to Over 20 EH/s by Month’s End
CleanSpark (CLSK), a prominent player in the bitcoin mining industry, has announced the acquisition of five new bitcoin mining facilities in rural Georgia for $25.8 million. This strategic move is expected to significantly enhance the company’s operational capacity and its commitment to sustainable and efficient bitcoin mining practices.
The acquisition of these turnkey facilities is poised to elevate CleanSpark’s operating hashrate to over 20 exahashes per second (EH/s) by the end of the month. This increase is facilitated by the installation of the latest generation S21 pro miners, ensuring that the new sites are at the cutting edge of mining technology.
“These new mining sites mark a major milestone in our strategic growth plan,” said Zach Bradford, CEO of CleanSpark. “They not only enhance the load balancing capabilities for the local cities we work with but also lock in our mid-year target of achieving 20 EH/s of operating hashrate. This underscores our commitment to scaling efficiently and sustainably.”
The five newly acquired facilities range in size from 8 MW to 15 MW, cumulatively adding 60 MW to CleanSpark’s infrastructure. This expansion brings CleanSpark’s total operational capacity in Georgia to over 400 MW, following the full energization of the Sandersville site. These facilities are strategically equipped with interruptible-load designated power purchase agreements (PPAs), allowing CleanSpark to provide load balancing for local electric municipal cooperatives (EMCs). This capability is crucial during periods of high demand on the grid, such as extreme weather conditions.
In addition to the mining data centers and equipment, CleanSpark will assume the underlying real property leases and power agreements associated with these sites. This comprehensive acquisition strategy ensures a seamless integration into CleanSpark’s existing operations, further solidifying its presence in Georgia.
CleanSpark’s expansion is not limited to Georgia. The company also operates infrastructure in Mississippi, co-locates machines in upstate New York, and has announced plans for additional locations in Wyoming. Currently, CleanSpark owns and operates about 300 MW of infrastructure, with the new acquisitions pushing this number significantly higher.
The acquisition of these facilities highlights CleanSpark’s proactive approach to expanding its bitcoin mining capacity and infrastructure. By leveraging the latest technology and strategically enhancing load balancing capabilities, CleanSpark continues to drive innovation and shareholder value in the bitcoin mining industry. As the company analyzes nearly one gigawatt of new opportunities, it remains at the forefront of sustainable and efficient bitcoin mining.
Read original press release:here
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