CleanSpark Inc. (Nasdaq: CLSK), a prominent Bitcoin mining company, has made a strategic move to expand its operations in the United States. The company recently announced the acquisition of five turnkey Bitcoin mining facilities located in rural Georgia for a total of $25.8 million.
This acquisition significantly increases CleanSpark’s infrastructure capacity by 60 megawatts (MW) and strengthens its position within the Bitcoin mining industry.
Strategic Growth and Infrastructure Expansion
This acquisition aligns perfectly with CleanSpark’s long-term growth strategy. The company anticipates the combined operating hashrate of these new facilities to exceed 3.7 exahashes per second (EH/s) once they are fully equipped with the latest generation S21 pro miners. Zach Bradford, CEO of CleanSpark, highlighted this move as the “leading edge” of nearly one gigawatt of potential new opportunities currently being evaluated by the company’s teams.
Benefits Beyond Bitcoin Mining
The acquisition boasts additional benefits beyond expanding CleanSpark’s Bitcoin mining capabilities. These new facilities are equipped with interruptible-load power purchase agreements (PPAs), which provide CleanSpark with the flexibility to adjust energy consumption based on local grid demands. This flexibility, particularly crucial during peak demand periods like extreme weather events, contributes to load balancing and enhances the reliability of the local power grid for the surrounding communities.
Acquisition Details
The five newly acquired sites range in size from 8 MW to 15 MW, collectively adding 60 MW to CleanSpark’s total capacity. The deal encompasses the purchase of mining data centers and related equipment at each location, excluding the miners themselves. Additionally, CleanSpark assumes the existing real property leases and power agreements associated with these facilities.
Expanding Geographical Footprint
With the addition of these Georgia facilities, CleanSpark solidifies its presence in the Southeast. The company currently manages approximately 300 MW of infrastructure in Georgia, and upon full operation of the new sites alongside the energized Sandersville facility, that number will soar to over 400 MW. CleanSpark also maintains operations in Mississippi, co-locates mining machines in upstate New York, and has future expansion plans in Wyoming.
Commitment to Sustainable Mining
CleanSpark prioritizes sustainable and efficient growth within the Bitcoin mining industry. The company primarily utilizes data centers powered by low-carbon energy sources, demonstrating its commitment to Bitcoin as a digital asset that fosters financial independence and inclusion. Furthermore, CleanSpark emphasizes transparency and trust in its interactions with both its employees and the communities it operates within.
Additional Resources
To learn more about CleanSpark Inc. and its Bitcoin mining operations, please visit the company’s official website: https://www.cleanspark.com/investor-relations
