Business
CleanSpark to Expand Mining Operations in Texas with up to 500 Megawatts of Renewable Power
The expansion at full deployment adds up to 16.0 EH/s to CleanSpark’s existing hashrate LAS VEGAS, March 31, 2022 (GLOBE NEWSWIRE) -- CleanSpark, Inc.
About this update from Cleanspark, Inc.
[{"type":"text","content":"The expansion at full deployment adds up to 16.0 EH/s to CleanSpark’s existing hashrate\nLAS VEGAS, March 31, 2022 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK) (the \"Company\" or \"CleanSpark\"), a sustainable bitcoin mining and energy technology company, today announced that it has signed an agreement with Houston-based Lancium to secure an initial 200 megawatts (MW) at Lancium’s renewably-powered datacenters in West Texas, with an option to add 300 MW more in the future. It is expected that approximately 50 MW of the purchased capacity will be operational by December 31, 2022, while the remaining 150 MW will be fully operational during Spring 2023. After completely using this capacity with the latest generation of bitcoin mining machines, CleanSpark will add an estimated 16.0 EH/s to its current forecasted hashrate of 4.0 EH/s — strengthening its position as one of the top bitcoin miners in North America. Lancium is an energy technology and infrastructure company dedicated to accelerating the energy transition. Lancium’s Clean Campuses are located in regions with access to low-cost renewable energy. Enabled by the company’s proprietary Lancium Smart Response technology, these Campuses act as “Controllable Load Resources” (CLRs) which provide for enhanced reliability of the power grid and encourage the growth of additional renewable energy. In September 2021, the company announced it had broken ground on its first “Clean Campus” located in Fort Stockton, Texas. “Lancium’s facilities are best-in-class, scalable and, importantly, draw their power from renewable-rich West Texas, which made Lancium an ideal partner for us to co-locate our machines,” said Zach Bradford, CEO of CleanSpark. “This move is in keeping with our strategy of focusing on infrastructure first. We continue to build more capacity at our own bitcoin mining facilities while we partner with colocation service providers. This hybrid approach helps us ensure that we always have rackspace ready to deploy new machines when they are delivered to us by the manufacturers. Such speed and optionality is critical as we scale our mining operations from megawatts to gigawatts in the coming years.” “Our Clean Campuses provide a unique solution that will provide both green and low cost power for customers that are interruptible and use large amounts of power,” said Mich...