CleanSpark, a leading Bitcoin mining company, has successfully completed the acquisition of 5 turnkey Bitcoin mining facilities in Georgia. These facilities have a total capacity of 50MW and were acquired for $25.8 million. This strategic move is aimed at significantly expanding CleanSpark’s mining operations, with the transaction finalized recently.
The integration of these facilities is projected to boost CleanSpark’s current hashrate capacity to over 3.7 exahashes per second (EH/s) once the latest S21 pro miners are fully incorporated. This acquisition aligns with CleanSpark’s overarching goal of enhancing its infrastructure and operational capabilities in the Cryptocurrency Mining sector.
CEO Zach Bradford has lauded the acquisition as a major step towards achieving the company’s target of reaching 20 EH/s of operational power by mid-year. By utilizing these environmentally friendly sites, CleanSpark aims to not only enhance local load-balancing capabilities crucial for grid stabilization during peak usage periods but also uphold its commitment to sustainable mining practices.
Each of the acquired facilities has a capacity ranging from 8 to 15 MW, totaling 60 MW in combined power. They come with advantageous load management-focused power purchase agreements, particularly beneficial in regions prone to extreme weather conditions. This feature becomes crucial during periods of heightened energy demand.
Following the acquisition, CleanSpark will incorporate over 400 MW of annualized run-rate Georgia market operations into its expanding portfolio, solidifying its position in the state’s long-term agreements. This expansion underscores the company’s dedication to enhancing shareholder value through innovative Bitcoin mining strategies.
With operations spanning multiple U.S. states, including recent developments in Mississippi and Wyoming, CleanSpark is actively promoting clean energy solutions and responsible mining practices. Its leadership in sustainable mining supports global financial sovereignty and accessibility to Bitcoin.
This acquisition marks a significant scaling up of CleanSpark’s operations and sets a new standard for leveraging cryptocurrency mining to benefit communities and the environment. The company remains committed to pursuing opportunities that align with its vision of a sustainable and equitable digital assets ecosystem.
