American Bitcoin miner CleanSpark Inc. has acquired five Bitcoin mining farms in Georgia for $25.6 million. The deal is anticipated to be completed at the earliest possibility and will raise the company’s operating hashrate to over 3.7 exahashes per second (EH/s) with the full installation of the newest S21 pro miners.
Enhanced Capacity and Performance
The new sites that have been purchased range in capacity of 8 megawatts to 15 megawatts, hence totaling to 60 megawatts. CleanSpark now has about 300 megawatts of infrastructure in Georgia, which greatly increases its hashrate.
CEO Zach Bradford stated, “These sites not only enhance the load balancing capabilities for the local cities we work with, but lock in the achievement of our mid-year target of achieving 20 EH/s of operating hashrate.”
This comes after CleanSpark bought two Bitcoin mining farms in Wyoming with a total power capacity of 75 MW for $18. 75 million. Also, CleanSpark has operational infrastructure in Mississippi and houses some of the machines in upstate New York.
Boosting Bitcoin Production
For the month of May, CleanSpark mined 417 bitcoins, this is its first full month of operation following the halving that occurred in April. As of the 31st of May the company hold 6,154 Bitcoins and with the current hashrate of 17.97 EH/s.
This strong performance has been seen in CleanSpark’s stock which has increased by more than 77% this year in comparison to the 47.5% increase in Bitcoin’s value year-to-date gain.
Also, S. Matthew Schultz, CleanSpark co-founder posted a picture with the former U.S. President Donald Trump, who has openly endorsed Bitcoin mining.
CleanSpark’s acquisitions and operational expansions underscore its commitment to becoming a dominant player in the Bitcoin mining industry, ensuring sustainable growth and increased production capabilities.
Also Read: Deutsche Telekom Announces Bitcoin Mining Expansion
