CleanSpark to acquire 2 Georgia facilities for $9.3M.
The bitcoin mining company, CleanSpark (CLSK), which is listed on the Nasdaq, has agreed to purchase two facilities located in Dalston, Georgia for $9.3 million in cash.
These facilities will house over 6,000 Bitmain Antminer S19 XPs and S19J Pro+s, and are expected to increase CleanSpark’s hashrate by just under 1 exahash per second (EH/s), as stated in an email announcement on Wednesday.
CleanSpark intends to achieve 16 EH/s of power by the end of 2023, and the acquisition of these facilities will ensure that they have sufficient infrastructure to achieve this goal, according to Zach Bradford, the CEO.
In April, CleanSpark made a significant purchase of 45,000 new Bitmain Antminer S19 XPs for $144.9 million.
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Gary A. Vecchiarelli, the CFO, said, “We continue to take advantage of opportunities created by current market conditions to prepare for next year’s bitcoin halving.”
Given the sharp drop in bitcoin’s valuation last year, combined with rising electricity prices, mining companies are turning their attention to the next halving of bitcoin, which is less than a year away. This event will reduce rewards for mining blocks, further challenging their profit margins.
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Edited by Parikshit Mishra.
