CleanSpark announces acquisition of four Bitcoin mining facilities

Bitcoin mining firm CleanSpark said that it will acquire four new mining facilities in a press release published on Feb. 6.

The company said it has entered definitive agreements to acquire three “turnkey” Bitcoin mining facilities in Mississippi.

Zach Bradford, CEO of CleanSpark, said:

“With the addition of Mississippi to our portfolio, we are gradually increasing our geographic diversity and expect to apply our proven track record of success in this new and exciting operating environment.”

The acquisition of those three locations involves a $19.8 million cash deal and is planned to close within 21 days. After the deal is closed, the three Mississippi facilities will have a combined hashrate of 2.4 EH/s (exahashes per second).

CleanSpark announced that it will acquire another mining facility under construction in Dalton, Georgia. That deal involves an initial cash payment of $3.4 million, and another planned $3.5 million investment. CleanSpark expects that the project will be completed and operational by April 2024. The company expects to see 2.4 EH/s across all Dalton locations, each with 0.8 EH/s.

CleanSpark reports 10 EH/s, targets fivefold increase

CleanSpark’s announcement indicates that it has a total 10 EH/s of hashpower across its Georgia locations (Dalton, Sandersville, Washington, College Park), Mississippi, and co-locations. Expansions should bring that total to 20 EH/s.

CleanSpark announced in January that it had entered an agreement to obtain several thousand Antminer S21 Bitcoin mining machines. The company said that it purchased the first 60,000 devices for $193.2 million, and the agreement allows for an additional 100,000 devices. CleanSpark has stated that this acquisition will help it achieve a total hashrate of 50 EH/s.

CleanSpark stock (CLSK) was up 0.94 points (12.11%) on Feb. 6, outperforming its rival crypto mining firms. Riot Platforms (RIOT) was up 0.47 points (4.55%) over the same period, while Marathon Digital (MARA) was up 0.42 points (2.52%).