CleanSpark announces acquisition of five new bitcoin mining facilities in Georgia

CleanSpark, America’s Bitcoin Miner™, has entered into definitive agreements to acquire five turnkey bitcoin mining facilities in rural Georgia for a cash payment of $25.8 million.

The purchase is expected to close immediately, with the operating hashrate of the combined facilities anticipated to exceed 3.7 exahashes per second (EH/s) upon full installation of the latest generation S21 pro miners.

“Our acquisition of these five new mining sites marks a significant milestone in our strategic growth plan and represents the leading edge of nearly one gigawatt of new opportunities being analyzed by our teams,” said Zach Bradford, CEO of CleanSpark. “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 achievement underscores our commitment to scaling efficiently and sustainably and we are excited to bring these facilities into the CleanSpark way of mining bitcoin. We are confident in our continued ability to drive shareholder value and innovation in the bitcoin mining industry.”

The five sites range in size from 8 MW to 15 MW, for a total of 60 MW, and include interruptible-load designated power purchase agreements (PPAs). Load balancing is a unique benefit that bitcoin miners provide local power grids because of their ability to curtail energy use based on local demand, especially during rare times of unusually high demand on the grid, such as very cold and extremely hot weather. 

The definitive agreements include the purchase of mining data centers and equipment at each site, excluding the miners, and the assumption of the underlying real property leases and power agreements by the Company.

CleanSpark currently owns and operates about 300 MW of infrastructure in Georgia. After these newly announced sites go live, and after Sandersville is fully energized, the Company will operate over 400 MW of infrastructure in Georgia. The Company also operates infrastructure in Mississippi, co-locates machines in upstate New York, and has announced locations in Wyoming.

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