CleanSpark to host 6,000 miners at new $9.3 million Bitcoin mining facility

Bitcoin mining company CleanSpark is set to acquire two turnkey U.S. Bitcoin mining campuses in Dalton, Georgia, for a cash payment of $9.3 million. 

The two mining facilities will house over 6,000 Bitcoin mining machines, including the latest generation Antminer S19 XP and S19j Pro+ units. These machines were ordered and paid for by CleanSpark earlier this year, according to a press release. The acquisition is part of CleanSpark’s plans to meet a growth target of 16 EH/s by the end of 2023.

“This acquisition ensures that we have more than enough infrastructure to reach our year-end target of 16 EH/s,” CleanSpark CEO Zach Bradford said in the release. “These two additional sites are testament to our deepening ties with rural communities in Georgia and the regional expertise we are developing there as a large, flexible load. Importantly, our efforts are generating economic growth for the suburban and rural areas where our operations are located.”

The deal is expected to finalize later this week, boosting CleanSpark’s computing power by just under 1 exahash per second (EH/s) — an approximate 15% increase compared to its existing 6.7 EH/s hash rate.

This latest deal follows a series of machine purchases by the firm this year. On June 1, CleanSpark purchased 12,500 new Bitmain Antminer S19 XP machines at a discounted price. The company also bought 20,000 Antminer S19j Pro+ units in February and an additional 45,000 Antminer S19 XP units in April. Those three deals will add a total of 10.5 EH/s to CleanSpark’s current hash rate when activated later this year.

“We continue to make use of opportunities created by current market conditions to prepare for next year’s Bitcoin halving,” said CleanSpark CFO Gary A. Vecchiarelli.

CleanSpark claims it predominantly mines Bitcoin with low-carbon energy sources — accounting for over 90% of its energy mix.

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.