CleanSpark, a company specializing in Bitcoin mining, has officially completed the acquisition of 5 fully operational Bitcoin mining facilities in Georgia. These facilities boast a total capacity of 50MW and were acquired for $25.8 million, marking a significant step in expanding CleanSpark’s mining operations.
With the integration of these facilities, CleanSpark anticipates a substantial increase in its current hashrate capacity, reaching 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 within the Cryptocurrency Mining sector.
CEO Zach Bradford views this acquisition as a pivotal move towards achieving their target of 20 EH/s of operational power by mid-year. By leveraging these environmentally-friendly sites, CleanSpark aims to not only enhance local load-balancing capabilities crucial for grid stability during peak usage periods but also uphold its commitment to sustainable mining practices.
Each of the acquired facilities ranges in capacity from 8 to 15 MW and is supported by favorable load management-driven power purchase agreements, totaling 60 MW. This becomes particularly crucial in regions prone to extreme weather conditions, where energy demands spike temporarily.
Following the acquisition, CleanSpark will incorporate over 400 MW of annualized run-rate operations in the Georgia market, further solidifying its presence and leveraging long-term agreements in the state. The company’s expansion underscores its dedication to enhancing shareholder value through innovative Bitcoin mining strategies.
With operations spanning various U.S. states, CleanSpark recently showcased its presence in Mississippi and Wyoming during budget season, showcasing its broad geographic reach. The company’s emphasis on clean energy solutions, responsible mining practices, and leadership in sustainable mining aligns with its vision of supporting global financial sovereignty and facilitating access to Bitcoin.
This acquisition marks a significant scaling up of CleanSpark’s operations, setting a new standard for leveraging cryptocurrency mining to benefit communities and the environment. As the company continues to seek opportunities to promote a sustainable and equitable digital assets ecosystem, it remains committed to realizing its vision for a cleaner and more inclusive future.