CleanSpark (CLSK) Acquires Five Bitcoin Mining Facilities in Georgia, Expanding Capacity by 60 MW

CleanSpark
Inc.
(Nasdaq:
CLSK),
a
leading
player
in
the
Bitcoin
mining
industry,
has
announced
the
acquisition
of
five
new
turnkey
Bitcoin
mining
facilities
in
rural
Georgia.
This
$25.8
million
cash
deal
is
expected
to
significantly
bolster
CleanSpark’s
infrastructure,
adding
60
megawatts
(MW)
of
capacity
and
increasing
the
company’s
operating
hashrate.

Strategic
Growth
and
Infrastructure
Expansion

The
acquisition
aligns
with
CleanSpark’s
strategic
growth
plans.
The
company
expects
the
operating
hashrate
of
the
combined
facilities
to
exceed
3.7
exahashes
per
second
(EH/s)
upon
the
full
installation
of
the
latest
generation
S21
pro
miners.
According
to
Zach
Bradford,
CEO
of
CleanSpark,
this
move
represents
the
leading
edge
of
nearly
one
gigawatt
of
new
opportunities
being
analyzed
by
the
company’s
teams.
The
acquisition
also
supports
load
balancing
capabilities
for
local
electric
municipal
cooperatives
(EMCs),
enhancing
the
reliability
of
the
local
power
grid.

Details
of
the
Acquisition

The
newly
acquired
sites
range
in
size
from
8
MW
to
15
MW,
totaling
60
MW.
They
include
interruptible-load
designated
power
purchase
agreements
(PPAs),
which
allow
for
flexible
energy
usage
based
on
local
demand.
Load
balancing
is
particularly
valuable
during
periods
of
high
demand,
such
as
extreme
weather
conditions.
The
agreements
cover
the
purchase
of
mining
data
centers
and
equipment
at
each
site,
excluding
the
miners,
and
include
the
assumption
of
real
property
leases
and
power
agreements
by
CleanSpark.

Current
and
Future
Operations

CleanSpark
currently
operates
approximately
300
MW
of
infrastructure
in
Georgia.
Once
the
new
sites
are
fully
operational
and
the
Sandersville
facility
is
energized,
the
company
will
manage
over
400
MW
of
infrastructure
in
the
state.
Additionally,
CleanSpark
has
operations
in
Mississippi,
co-locates
machines
in
upstate
New
York,
and
has
announced
future
locations
in
Wyoming.

Commitment
to
Sustainable
Mining

CleanSpark
emphasizes
its
commitment
to
sustainable
and
efficient
growth
in
the
Bitcoin
mining
sector.
The
company
primarily
operates
data
centers
using
low-carbon
power,
supporting
Bitcoin
as
a
digital
commodity
essential
for
financial
independence
and
inclusion.
CleanSpark’s
focus
on
transparency
and
trust
extends
to
its
employees
and
the
communities
where
it
operates.

For
more
information,
visit
the
official

CleanSpark
website.

Image
source:
Shutterstock