CleanSpark Adds 2 Mining Facilities In The Wake Of Bitcoin Price Rise

Key Points:

• CleanSpark has agreed to pay $9.3 million in cash for two facilities in Dalton, Georgia.
• Almost 6,000 Bitmain Antminer S19 XPs and S19J Pro+s will be housed in the facilities, projected to contribute little under 1 EH/s to the company’s hashrate.

CleanSpark stated that it has entered into formal agreements to buy two turnkey Bitcoin mining campuses in Dalton, Georgia, for $9.3 million in cash.

The facilities are projected to contribute little less than 1 exahash per second (EH/s) to CleanSpark’s hashrate immediately after the agreement closes later this week.

CleanSpark CEO Zach Bradford stated:

“These two additional sites are testament to our deepening ties with rural communities in Georgia and the regional expertise we are developing there as a large, flexible load. Importantly, our efforts are generating economic growth for the suburban and rural areas where our operations are located.”

According to an emailed release on Wednesday, the facilities will house over 6,000 Bitmain Antminer S19 XPs and S19J Pro+s and are estimated to contribute just under 1 exahash per second (EH/s) to CleanSpark’s hashrate.

The purchase of these assets will guarantee that CleanSpark has more than enough infrastructure to fulfill its goal of 16 EH/s of electricity by the end of 2023, according to Bradford.

Their recent major acquisition was 45,000 new Bitmain Antminer S19 XPs for $144.9 million in April.

CleanSpark mines Bitcoin utilizing low-carbon energy sources that represent for more than 90% of its energy mix, and it maintains a balanced capital management approach by selling a part of its generated bitcoins to reinvest in growth. The company exceeded its year-end forecast in 2022, doubling its hashrate and earning one of the greatest hashrate realization rates among its peers during the bad crypto market, thanks to this approach and the Company’s patented mining algorithm.

Bitcoin is currently approaching the $30,000 level, bringing excitement to investors. However, the upcoming halving that leads to a reduction in the blockchain reward while the operating costs remain the same is a challenge for Bitcoin miners.

As Coincu reported, Core Scientific, a bankrupt Bitcoin miner, has filed a Chapter 11 plan in order to make a successful return. As part of the strategy, the Bitcoin miner has also negotiated with important parties. According to the plan, the company is attempting to get as much agreement as possible regarding how a new Core Scientific firm would emerge after leaving bankruptcy processes.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Harold

Coincu News