Bitcoin miner CleanSpark is set to acquire three operational cryptocurrency mining facilities in Mississippi, USA, for $19.8 million, with a combined hashrate of 2.4 EH/s.
Today we announced two new acquisitions, that combined with the imminent energization of the Sandersville expansion, provide us the additional power needed to double our current operational #hashrate of 10 EH/s and exceed 20 EH/s during the first half of 2024.$CLSK is venturing… pic.twitter.com/LLge0BlcOV
— CleanSpark Inc. (@CleanSpark_Inc) February 6, 2024
The transaction will be settled in cash and is expected to close within three weeks.
Simultaneously, the company has finalized an agreement to purchase a mining data center under construction in Dalton, Georgia. CleanSpark plans to invest $3.5 million to complete the project and commence operations in April 2024. The facility will have a hashrate of 0.8 EH/s.
According to the company, its current computing power stands at 10 EH/s. The new acquisitions will enable CleanSpark to progress towards its target of 20 EH/s in the first half of 2024.
In January, the firm secured a deal with Bitmain to purchase 160,000 Antminer S21 units. Deploying this equipment will allow CleanSpark to achieve a bitcoin hashrate of 50 EH/s.
In the near term, the company also plans to expand its data center capacity in Sandersville, Georgia.
According to CleanSpark CEO Zach Bradford, the acquisition of the Mississippi facilities will enhance the company’s geographical diversification.
“As one of the few public miners to achieve scale, we expect to remain among the most efficient operators both in terms of prudent management of our energy portfolio and our ability to maintain industry-leading overhead costs,” he added.
Earlier, CoinShares experts identified CleanSpark as one of the few bitcoin miners likely to remain profitable post-halving. Analysts based their calculations on a bitcoin price of $40,000.