On Tuesday, bitcoin mining company Cleanspark announced that it has acquired a pluggable bitcoin mining facility expandable to 86 megawatts (MW) capacity. The newly opened site in Washington, Georgia, currently has 36 megawatts and is expected to boost Cleanspark’s hash rate by 38% this quarter.
Publicly traded bitcoin miner Cleanspark expands operations in Georgia
After
Cleanspark Inc. (Nasdaq: CLSK) revealed last month that it had acquired 1061 bitcoin miners at a “discounted price,” the company acquired a new facility in Washington, the county seat of Wilkes County, Georgia announced that it has acquired a new facility in Washington, the county seat of Wilkes County, Georgia. The new facility has a hosting capacity of up to 86 MW, and Cleanspark purchased the facility for $16.2 million. The mining company also purchased 3,400 Antminer S19 mining equipment for $8.9 million.
The Antminer rigs are currently running at a hash power of 340 petahashes per second (PH/s). Tuesday’s announcement detailed that “[Cleanspark] plans to fill the remainder of the 36 MW with machines that have already been paid for and are on hand. The new facility will be Cleanspark’s third clean energy bitcoin mining facility in Georgia. The company said it looks forward to growing the facility’s infrastructure and enhancing local employment. The facility will utilize low-carbon energy sources such as nuclear power, Cleanspark’s announcement explained.
“We are excited to expand our footprint in Georgia,” Cleanspark CEO Zach Bradford said in a statement. The market has been preparing for integration all summer and we are pleased to be on the acquiring side. With our focus on sustainability and maximizing value for our stakeholders, we are uniquely positioned to take advantage of the unprecedented opportunities created by the current market.” Bradford continued.
We are especially pleased to be working with the citizens of Washington, Georgia, who have welcomed us with open arms. We look forward to maintaining and growing jobs and infrastructure on our new campus in Washington.
Cleanspark’s stock CLSK saw gains rise 10.51% over the past 30 days, while one year statistics show that CLSK has lost 67.86%. Many other publicly traded mining companies have seen their shares follow the same downward trend as cryptocurrencies in the current bear market. For example, Marathon Digital Holdings (Nasdaq:MARA) reported negative results in the second quarter, but the company increased its bitcoin production.
Bitcoin prices hurtBTCmining revenue and hash rates for key crypto assets slipped 1.7% lower in the second quarter compared to the first quarter. Despite the crypto winter, Cleanspark continued to expand, and when it acquired two bulk orders of ASIC miners at a discount in July, Bradford emphasized that Cleanspark sees “unprecedented opportunities in this market.”
What do you think about Cleanspark’s acquisition of a facility in Washington, Georgia, with up to 86 MW of capacity and 3,400 Antminers? Let us know your thoughts on this subject in the comments section below.
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