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Cleanspark Acquires Georgia Facilities in All-Cash Deal to Expand Bitcoin Operations

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A publicly traded bitcoin miner named Cleanspark has revealed that it has signed contracts to buy two turnkey bitcoin facilities in Dalton, Georgia. The transaction would cost Cleanspark $9.3 million in cash and is anticipated to boost its existing operations by just under 1 exahash per second (EH/s).

On Wednesday, Cleanspark (Nasdaq: CLSK) disclosed that it has signed binding contracts to buy two complete campuses for bitcoin mining. According to Cleanspark, the facilities, which are located in Dalton, Georgia, are intended to house 6,000 Antminer S19 XPs and S19J Pro+s.

Since February 2018, Cleanspark has purchased 77,500 ASIC mining equipment. “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 Wednesday. “It also maintains our energy-per-hashrate leadership.”

The publicly listed bitcoin miner claims 90% of its energy mix is low-carbon. Cleanspark’s shares climbed 10% against the U.S. dollar at 11:30 a.m. Eastern Time on June 21, 2023, like other bitcoin mining stocks. “We continue to use opportunities created by current market conditions to prepare for next year’s bitcoin halving,” Cleanspark CFO Gary A. Vecchiarelli said.

In 2023, bitcoin miners are faring better than in 2022, when many struggled. After achieving a low of $16,565 per unit on December 31, 2022, the price of bitcoin has soared and next-generation technology has dramatically increased the hashrate. Miners face a complex mining difficulty that will climb again on June 27, 2023.

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