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

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

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