CleanSpark is set to acquire five Georgia mining facilities for $25.8 million, expected to boost processing power to over 3.7 EH/s.
CleanSpark, an American Bitcoin mining company that prioritizes the utilization of renewable energy, has signed a definitive agreement to acquire five mining facilities in Georgia.
In a June 18 announcement, CleanSpark explained that the $25.8 million deal is “anticipated to be finalized immediately” and disclosed that the combined processing capacity of the five facilities is expected to surpass 3.7 exahashes per second.
The cumulative operational capacity of the mining sites ranges from 8 to 15 megawatts of power, resulting in a total of 60 megawatts across the facilities.
CleanSpark’s spokespersons expressed their assurance that the company’s total hashrate would surpass 20 exahashes per second by the conclusion of June.
Furthermore, the recently acquired facilities are equipped with interruptible-load designated power purchase agreements (PPAs) to offer load-balancing services to the local electrical infrastructure.
CleanSpark’s CEO Zach Bradford issued a forward-looking statement following the acquisition announcement, highlighting the advantageous relationship between Bitcoin mining operators and regional energy infrastructure.
“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.”
After former President Trump declared that Bitcoin should be “made in the USA” and convened a private meeting with industry leaders from Riot Platforms, CleanSpark, and TeraWulf, the Bitcoin mining industry in the United States has been brought into sharper focus.
The 2024 Presidential candidate posited in a social media post on June 12 that Bitcoin could serve as the United States’ “last line of defense” against a central bank digital currency (CBDC).
He also suggested that Bitcoin could help the United States become the energy-dominant nation.
The crypto community has been enraged by Trump’s comments, with some contending that he is merely pandering for votes and lacks any knowledge of the crypto industry.
Nevertheless, Erik Vorhees, the founder of Shapeshift, contends that the specifics of Trump’s remarks are of far less consequence than the friendly gesture they convey.
Immediately following Trump’s meeting with mining industry players and his stated support for the broader crypto industry, executives from Marathon Digital Holdings, CleanSpark, and Riot Platforms launched “The Bitcoin Voter Project.”
The 501(c)(4) non-profit organization is a non-partisan voter education initiative aimed at raising awareness and disseminating knowledge about the nascent digital asset market and the blockchain industry, rather than supporting any candidates or parties.
