CleanSpark purchased a property in Washington, Georgia for $16.2 million
CleanSpark a bitcoin miner, signed a $16.2M legal binding to acquire an operational 36-megawatt mining facility site located in Washington, Georgia from vertically integrated bitcoin miner Waha Technologies.
According to a statement made public on Tuesday, the new location will raise the company's hash rate by 1.1 exahashes per second (EH/s), or 38%. The site is expandable to 86 MW thanks to exclusive rights to an additional 50 MW of power.
The location is the third clean-energy campus that CleanSpark has established in Georgia, the others being in College Park and Norcross. It mostly uses nuclear energy and other low-carbon energy sources for power. In order to acquire the property from Waha Technologies, a low-carbon bitcoin miner, which includes the mining facility and machines, CleanSpark claimed to have taken advantage of the current market conditions. The Antminer S19 or S19J Pro versions, which are among the most energy-efficient bitcoin mining equipment on the market, make up the majority of the acquired devices. According to the firm, assuming all usual closing conditions are met, the transaction should close within the following 30 days.
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For $8.9 million, the company acquired around 3,400 rigs of the most recent Antminer S19 series machines that were already operational in the new Georgia location. They amount to roughly 0.34 EH/s. The remaining 36 megawatts will be supplied by equipment that CleanSpark has already paid for. Through this relationship, the business will diversify their local economy, add jobs in rural technology and increase the number of power customers they serve. According to Bill deGolian, the mayor of Washington, the business anticipates having a fruitful and lasting partnership with CleanSpark.
In recent months, the business has stocked up on ASICs to take advantage of the buyer's market. In June, it bought 1,800 bitcoin miners, then in July, it bought 1,061 more. The company started the first bitcoin mining business in Washington, Georgia, because they had idle infrastructure and excess power.
About CleanSpark :
Since 2014, CleanSpark, America's Bitcoin miner, has assisted individuals in achieving energy independence for their homes and businesses. Based on an average bitcoin price of $20,768, CleanSpark reported last week that it made almost $8.8 million on the sale of 426 BTC in July. The business was named one of Forbes' America's Best Small Companies for 2022, and it is currently ranked 44th out of the 500 fastest-growing businesses in the Americas by the Financial Times.
CBW - External Analyst