Cleanspark, a bitcoin mining firm announced Tuesday that it had acquired an open-source bitcoin mining machine capable of scaling to 86 megawatts. Presently, the newly opened site in Washington, Georgia, has 36 megawatts, which is expected to give Cleanspark’s hashrate a 38% boost this quarter.
Georgia’s Publicly-Listed Bitcoin Miner Cleanspark expands its operations
After Cleanspark Inc. (Nasdaq: CLSK) revealed last month that it acquired 1,061 bitcoin miners at a “discounted price,” the company announced it has acquired a new facility in Washington, the county seat of Wilkes County, Georgia. Cleanspark paid $16.2 million to purchase the new facility that can host up to 85 MW. Cleanspark also purchased 3,400 Antminer S19 mine rigs worth $8.9million.
Antminer hashpower rigs can currently be operated at 340 petahash per sec (PH/s). “[Cleanspark] will fill the balance of the 36 MW with machines already paid for and on hand,” Tuesday’s announcement details. The new facility will be Cleanspark’s third clean-energy bitcoin mining facility in Georgia. The company says that it looks forward to growing the facility’s infrastructure and bolstering local jobs in the region. The site leverages low-carbon energy sources such as nuclear, Cleanspark’s announcement explains.
“We are excited to expand our footprint in Georgia,” Cleanspark’s CEO Zach Bradford said in a statement. We are happy to acquire the market, which has been in preparation since summer. Our focus on sustainability and maximizing value for our stakeholders have put us in a unique position to take advantage of the unprecedented opportunities that the current market has created.” Bradford continued:
Particularly, we are excited to collaborate with Washington, GA’s citizens, who have been very welcoming. Our new Washington campus will continue to grow and maintain jobs as well as infrastructure.
CLSK, Cleanspark’s shares have gained 10.51% in the past 30 Days. But CLSK’s year-to-date statistics indicate that CLSK lost 67.86%. Many other mining companies that are publicly listed have also seen their shares fall in line with the bear market. Marathon Digital Holdings (Nasdaq : MARA), for instance, reported negative quarter-end results but saw an increase in bitcoin production.
The price of bitcoin has hurt BTC mining revenue and the leading crypto asset’s hashrate slipped 1.7% lower in Q2 in comparison to the first quarter. Despite the crypto winter, Cleanspark has continued to expand and when it acquired two bulk orders of ASIC miners in July at a discount, Bradford highlighted that Cleanspark was seeing “unprecedented opportunities in this market.”
Do you have any thoughts about Cleanspark buying a Washington facility and 3,400 Antminers, as well as acquiring one in Georgia? Please share your views on this topic in the comment section.
Image creditShutterstock. Pixabay. Wiki Commons
DisclaimerThis information is provided for educational purposes only. This article is not intended to be a solicitation or offer to sell or buy any product, service, or company. Bitcoin.com doesn’t offer investment, tax or legal advice. This article does not contain any information, products, or advice that can be used to cause or alleged result in any kind of damage.