CleanSpark to buy two bitcoin mining campuses for $9.3 million

American mining company CleanSpark has entered into a definitive agreement to acquire two bitcoin mining facilities in Dalton, Georgia, for $9.3 million.

\n\n\n\n

We’re coming to another town in the Peach State! ???$CLSK has entered into definitive agreements to acquire two turnkey #bitcoin mining campuses located in Dalton, Georgia, for a cash payment of $9.3 million.

The facilities are expected to add just under 1 exahash per… pic.twitter.com/4I5bmzpI6a

— CleanSpark Inc. (@CleanSpark_Inc) June 21, 2023

\n\n\n\n

The firm will pay for the deal entirely in cash, and closing is planned by the end of the week.

\n\n\n\n

The two turnkey facilities are expected to add nearly 1 EH/s to the company’s current hashrate. In total, CleanSpark will deploy over 6,000 Antminer S19 XP and S19J Pro+ units on them from orders placed earlier.

\n\n\n\n

“The acquisition guarantees that we will have more than enough infrastructure to reach our goal of 16 EH/s by year-end,” said CleanSpark’s Chief Executive Officer Zac Bradford.

\n

\n\n\n\n

The deal continued series of acquisitions made by CleanSpark during the bear market. Since the start of 2023, the firm has acquired:

\n\n\n\n

\n
• 20,000 Antminer S19J Pro+ in February;

\n\n\n\n

• 45,000 Antminer S19 XP in April;

\n\n\n\n

• 12,500 Antminer S19 XP in June.

\n

\n\n\n\n

“We continue to leverage the opportunities created by market conditions to prepare for the Bitcoin halving next year. It is important to note that this acquisition is fully funded from our cash reserves. We expect it to start generating profits immediately,” said CleanSpark’s Chief Financial Officer Gary Vecchiarelli.

\n

\n\n\n\n

In the second quarter of fiscal 2023, the company doubled the amount of Bitcoin mined compared with the same period last year. Revenue rose only 14% to $42.5 million.

“