Mining company CleanSpark acquires mining facility in Georgia

  • The current capacity of the Georgia facility is 24,108 miners.
  • The miner also acquired 1,800 Antminer S19 XP devices in June.

Cryptocurrency mining company CleanSpark said Friday that it has reached a deal to buy a Bitcoin mining facility operated by Mawson in Sandersville, Georgia, for $33 million. The deal is expected to improve CleanSpark’s hash rate by 1.4 EH/s in the coming months and another 3.5 EH/s by the end of the following year.

Under the terms of the deal, the parties will pay $9.5 million (or $17 per severance) for a total of 6,468 generations. Mining ASIC.

The company stated:

“These devices, which are already operating at the acquired site, will add more than 558 petahashes per second (PH/s) of computing power immediately upon closing.”

Expansion of the best deal

Up to $42.5 million, including up to $11 million in CleanSpark Equity and $4.5 million in earning commitments, will be paid by CleanSpark to the facility and the miners. The Georgia facility has a current capacity of 24,108 newer-generation miners, but the company has lofty ambitions to increase that to 70,000 miners by 2023, at which point they will generate more than 7.0 EH/s.

It was revealed Thursday that a deal to sell 10,000 Bitmain Antminer S19j Pro miners to Cryptech Solutions for $28 million was revealed. For a “significantly discounted price,” CleanSpark purchased over a thousand Bitcoin miners from Whatsminer M30S in July. The miner also acquired 1,800 Antminer S19 XP devices in June.

The company prioritized infrastructure development and pre-ordered equipment during the bull market.

Zach Bradford, CEO of CleanSpark stated:

“This strategy has enabled us to make purchases of land rigs at significantly lower prices, thereby reducing the time between capital deployment and retail, accelerating our return on investment.”

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