Bitcoin Miner CleanSpark to Buy 2 Georgia Facilities for $9.3M

The new facilities are expected to add just under 1 EH/s to CleanSpark's hashrate.

AccessTimeIconJun 21, 2023 at 1:00 p.m. UTC
Updated Jun 21, 2023 at 2:14 p.m. UTC
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Nasdaq-listed bitcoin mining firm CleanSpark (CLSK) has agreed to acquire two facilities in Dalton, Georgia for $9.3 million in cash.

The facilities will host over 6,000 Bitmain Antminer S19 XPs and S19J Pro+s and are expected to add just under 1 exahash per second (EH/s) to CleanSpark's hashrate, according to an emailed announcement on Wednesday.

CleanSpark's aim is to have 16 EH/s of power by the end of 2023, which the acquisition of these facilities will "ensure [they] have more than enough infrastructure to reach," CEO Zach Bradford said.

Its previous big move was the purchase of 45,000 new Bitmain Antminer S19 XPs for $144.9 million in April.

"We continue to make use of opportunities created by current market conditions to prepare for next year’s bitcoin halving,” said CFO Gary A. Vecchiarelli.

With the industry still reeling from the sharp fall in bitcoin's valuation last year combined with rising costs from high electricity prices, mining firms are looking toward bitcoin's next halving, now less than a year away, which will reduce rewards for mining blocks, and challenge their profit margins even more.

Edited by Parikshit Mishra.


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Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

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