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CleanSpark Announces Acquisition of Five New Bitcoin Mining Facilities in Georgia, Adding 60 MW of Infrastructure
The newest additions to the CleanSpark portfolio represent the leading edge of nearly 1 GW of new opportunities currently being analyzed Acquisitions are
About this update from Cleanspark, Inc.
[{"type":"text","content":"The newest additions to the CleanSpark portfolio represent the leading edge of nearly 1 GW of new opportunities currently being analyzed\nAcquisitions are expected to increase Company's operating hashrate to over 20 EH/s by month's end using already purchased hardware\nFacilities will provide load balancing capabilities for the local electric municipal cooperatives (EMCs) in which they are located\nLAS VEGAS, June 18, 2024 /PRNewswire/ -- CleanSpark Inc. (Nasdaq: CLSK), America's Bitcoin Miner™, today announced it has entered into definitive agreements to acquire five turnkey bitcoin mining facilities in rural Georgia for a cash payment of $25.8 million.\n\n \n \n \n \n \n \n\n \nThe purchase is expected to close immediately, with the operating hashrate of the combined facilities anticipated to exceed 3.7 exahashes per second (EH/s) upon full installation of the latest generation S21 pro miners.\n\"Our acquisition of these five new mining sites marks a significant milestone in our strategic growth plan and represents the leading edge of nearly one gigawatt of new opportunities being analyzed by our teams,\" said Zach Bradford, CEO of CleanSpark. \"These sites not only enhance the load balancing capabilities for the local cities we work with, but lock in the achievement of our mid-year target of achieving 20 EH/s of operating hashrate. This achievement underscores our commitment to scaling efficiently and sustainably and we are excited to bring these facilities into the CleanSpark way of mining bitcoin. We are confident in our continued ability to drive shareholder value and innovation in the bitcoin mining industry.\"\nThe five sites range in size from 8 MW to 15 MW, for a total of 60 MW, and include interruptible-load designated power purchase agreements (PPAs). Load balancing is a unique benefit that bitcoin miners provide local power grids because of their ability to curtail energy use based on local demand, especially during rare times of unusually high demand on the grid, such as very cold and extremely hot weather. \nThe definitive agreements include the purchase of mining data centers and equipment at each site, excluding the miners, and the assumption of the underlying real property leases and power agreements by the Company.\nCleanSpark currently owns and operates about 300 MW of infrastructure in Georgia. After these n...