CleanSpark Strengthens Position: Acquisition of Five Mining Centers for $28.5 million to Expand Capacity
Date: 2024-06-21 Author: Henry Casey Categories: BUSINESS
CleanSpark, one of the leading Bitcoin miners, recently announced the acquisition of five cryptocurrency mining data centers. The deal, valued at $28.5 million, is aimed at expanding the firm’s capabilities and strengthening its position in the crypto mining industry.
CleanSpark has entered into an agreement to purchase five mining facilities in Georgia, USA. According to the press release, the total capacity of these data centers is 60 MW. The transaction price, amounting to $28.5 million, will be paid immediately in cash.
Capacity expansion
It is planned to install S21 Antminer bitcoin miners at new enterprises. After their launch, the total hashrate of the objects will exceed 3.7 EH/s, which will significantly strengthen CleanSpark’s production capabilities.
Currently, the majority of the company's facilities are located in Georgia, including cities such as Norcross, College Park, Washington, Sanderville and Dolton. The total capacity of facilities in this state is about 300 MW. The company intends to increase this figure to 400 MW in the near future by maximizing the productivity of the Sunderville facility and connecting new data centers.
CleanSpark CEO Zach Bradford said the acquisition of the new mining facilities is an important milestone in the company's strategic growth plan. He noted that these new facilities will help accelerate the achievement of the target hashrate of 20 EH/s. At the moment, the total hashrate of the company is 17.97 EH/s.
Current indicators and prospects
The CleanSpark mining park consists of 134,464 installations. In May 2024, this capacity allowed the company to mine 417 BTC, which is an average of 13.45 BTC per day. For comparison, in April 2024, daily production was 24 BTC, with a record high of 48 BTC reached on the day of the halving.
The acquisition of five data centers in Georgia represents a significant step forward for CleanSpark. This not only expands the company's production capacity, but also brings it closer to achieving its ambitious hashrate goals. This acquisition also demonstrates the company's strategic focus on strengthening its position in the cryptocurrency mining industry.
It was previously reported that Bitcoin reserves of mining companies have reached their lowest level in the last 14 years. This highlights the importance of strategic decisions aimed at increasing production capacity and improving production efficiency.
