Cleanspark Inc. has unveiled plans to acquire seven bitcoin mining facilities in Knoxville, Tennessee. The $27.5 million deal is expected to boost the company’s current mining capacity by 5 exahash per second (EH/s) by 2024, representing a 22% increase in its operational hashrate.
Cleanspark to Acquire 7 Bitcoin Mining Facilities in $27.5M Deal, Boosting Hashrate by 22%
In a recent announcement, Cleanspark (Nasdaq: CLSK) detailed that the new facilities will add over 85 megawatts (MW) of mining power, with each site ranging between 10 MW and 20 MW. The company aims to finalize the acquisition of all seven locations by Sept. 25, 2024.
“With the energization of our Dalton 4 campus last week, we’ve already surpassed 23 EH/s and expect more hashrate to come online this week from the energization of 50 MW of S21 pros in Sandersville,” Cleanspark CEO Zach Bradford remarked. “With this additional 5 EH/s expected to begin hashing over the coming weeks, we now expect to achieve 37 EH/s before the end of 2024.”
The CEO added:
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The Griid acquisition, our recent closing in Wyoming, and now this new transaction represents the continued execution of our growth strategy. Tennessee has a similar political and energy environment to Georgia, where we’ve deployed nearly $1B of capital and operate nearly 500 MW.
Cleanspark’s newly acquired sites will take full advantage of its recent purchase of S21 Pro miners, adding more muscle to its growing network. Additionally, back in August, the publicly traded bitcoin mining firm revealed that it had bought 26,000 units of Bitmain’s S21 XP immersion-cooled mining machines. This latest acquisition of seven sites comes at a challenging moment, as miner revenue has dipped considerably, and operators are feeling the heat from the current low hashprice.
Source: https://news.bitcoin.com/cleanspark-expands-bitcoin-mining-operations-by-acquiring-7-tennessee-facilities/