- Acquisition of three turnkey Bitcoin mining facilities in Mississippi
- Investment in a mining facility under construction in Dalton, Georgia
- Plans to achieve a total hash rate of 50 EH/s with strategic expansions and Antminer S21 acquisition
In a significant move to bolster its Bitcoin mining capabilities, CleanSpark has announced its acquisition of four new mining facilities. The company revealed this strategic development in a press release issued on February 6th.
The expansion initiative entails the acquisition of three turnkey Bitcoin mining facilities located in Mississippi, marking a notable diversification in CleanSpark’s geographic footprint. Zach Bradford, the CEO of CleanSpark, expressed optimism about the expansion, emphasizing the company’s intention to leverage its successful track record in this novel operating environment.
The acquisition deal for the three Mississippi facilities involves a substantial cash transaction totaling $19.8 million and is slated to be finalized within the next 21 days. Once completed, these facilities are anticipated to contribute a combined hash rate of 2.4 EH/s (exahashes per second) to CleanSpark’s mining operations.
Furthermore, CleanSpark disclosed its plans to acquire another mining facility currently under construction in Dalton, Georgia. This additional endeavor entails an initial cash outlay of $3.4 million, with an additional investment of $3.5 million earmarked for the project. Anticipated to be operational by April 2024, the Dalton facility is projected to generate a hash rate of 0.8 EH/s, contributing to the overall hash power of 2.4 EH/s across all Dalton locations.
The announcement also shed light on CleanSpark’s aggregate hashpower, which currently stands at 10 EH/s across its existing Georgia locations (Dalton, Sandersville, Washington, College Park), Mississippi, and co-locations. With further expansions in the pipeline, the company aims to elevate this figure to 20 EH/s.
Earlier in January, CleanSpark had disclosed its agreement to procure several thousand Antminer S21 Bitcoin mining machines, with an initial purchase of 60,000 devices amounting to $193.2 million. The agreement also allows for the potential acquisition of an additional 100,000 devices, positioning CleanSpark to achieve an ambitious total hash rate of 50 EH/s.
Following this announcement, CleanSpark’s stock (CLSK) experienced a notable surge, climbing by 0.94 points (12.11%) on February 6th. This impressive performance outpaced its competitors in the crypto mining sector, with Riot Platforms (RIOT) registering a 0.47 point increase (4.55%) and Marathon Digital (MARA) seeing a 0.42 point rise (2.52%) over the same period.
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