CleanSpark to Acquire Five Bitcoin Mining Facilities for $25.8 Million

American mining firm CleanSpark has finalized an agreement to purchase five operational Bitcoin mining facilities in Georgia for $25.8 million.

Today we announced the acquisition of 5 new #bitcoin mining sites in Georgia equivalent to 60 MW of infrastructure. The purchase is expected to close immediately and increase $CLSK‘s #hashrate by 3.7 EH/s upon full installation of already purchased S21 Pro miners.

“Our…

— CleanSpark Inc. (@CleanSpark_Inc) June 18, 2024

The transaction is expected to close “immediately” with full payment in cash.

According to the statement, the data centers will add 60 MW to CleanSpark’s existing infrastructure. Following the deployment of Antminer S21 installations at the new sites, their combined hashrate will exceed 3.7 EH/s.

CleanSpark CEO Zach Bradford stated that the acquisition solidifies the company’s achievement of its 20 EH/s target for the year.

As of May 31, the firm operated 134,464 ASIC miners, generating 17.97 EH/s. The average energy efficiency of the equipment fleet was 23.05 J/TH.

Most of CleanSpark’s current capacity is already located in Georgia—300 MW. The company also operates facilities in Mississippi and is in the process of acquiring a data center in Wyoming.

In May, Bitcoin miners reported a decline in production volumes following the April halving. However, amid this backdrop, the combined market capitalization of US-listed industry companies reached a record $22.8 billion.