CleanSpark, a Bitcoin mining company, today announced that it has closed on a previously announced acquisition of 5 turnkey Bitcoin mining facilities in Georgia, with a combined total capacity of 50MW. This $25.8 million buyout looks to allow the company to expand its mining operations in a big way, with the transaction closing soon.
Its integration of these facilities is expected to greatly improve CleanSpark’s current hashrate capacity to an even higher range of over 3.7 exahashes per second (EH/s) once the most recent S21 pro miners are fully integrated. It is part of CleanSpark’s broader initiative to expand their infrastructure and operational capabilities within the Cryptocurrency Mining space.
CleanSpark’s Vision of Sustainable Mining
CleanSpark CEO, Zach Bradford, praised the acquisition as a significant move towards realizing their goal of reaching 20 EH/s of operational power by mid-year, and believes that by incorporating these environmental sites, the company will not only improve local load-balancing capabilities—critical for grid stabilization during high-use periods—but further its commitment to sustainable mining practices.
A total of 60 MWs are combined with each and include specific and favorable load management driven power purchase agreements. The acquired sites are ranged between 8 to 15 MW in capacity. This feature becomes even more important in areas that have inclement weather since they start experiencing an uptick in energy needs for a temporary period.
Future Prospects and Community Integration
CleanSpark will add more than 400 MW of annualized run-rate Georgia market operations to its expanding footprint post-acquisition, now solidifying its rights in using the state’s regional long-term agreements. The expansion also reflects the company’s commitment to increasing shareholder value with its novel Bitcoin mining strategies.
The firm has operations throughout a number of U.S. states and budget season recently showed its hand in both Mississippi and Wyoming, demonstrating a wide geographic reach. CleanSpark’s dedication to clean energy solutions and responsible mining, combined with its leadership in sustainable mining, supports global financial sovereignty and access to Bitcoin.
The transaction serves to dramatically increase the scale of CleanSpark’s operations and sets a new benchmark for how the convergence of cryptocurrency mining can be built upon to better serve communities and the broader environment. The company will keep seeking opportunities to extend its vision for a more sustainable and fair digital assets ecosystem.
