Key Takeaways
- CleanSpark has acquired five new bitcoin mining facilities in Georgia for $25.8 million.
- The acquisition is expected to increase CleanSpark's operating hashrate to over 20 EH/s by month's end.
- These new facilities will enhance load balancing capabilities for local electric municipal cooperatives.
CleanSpark Inc. announced the acquisition of five new bitcoin mining facilities in rural Georgia, adding 60 MW of infrastructure.
This $25.8 million purchase is expected to boost CleanSpark’s operating hashrate to over 20 EH/s by the end of the month using already purchased hardware.
Growth plan
The acquisition aligns with CleanSpark’s strategic growth plan, representing the forefront of nearly one gigawatt of new opportunities under analysis.
These new facilities, ranging from 8 MW to 15 MW, will enhance load balancing capabilities for local electric municipal cooperatives (EMCs), supporting the local power grid during peak demand times.
Zach Bradford, CEO of CleanSpark, stated:
Our acquisition of these five new mining sites marks a significant milestone in our strategic growth plan… We are confident in our continued ability to drive shareholder value and innovation in the bitcoin mining industry.
With this addition, CleanSpark’s infrastructure in Georgia will exceed 400 MW, complementing their existing operations in Mississippi, New York, and announced sites in Wyoming.
These facilities include interruptible-load designated power purchase agreements, allowing CleanSpark to curtail energy use during high demand periods, providing a unique benefit to local power grids.
