CleanSpark Mining Site Acquisition Expands Capacity by 85 MW

• CleanSpark mining site acquisition adds 85 MW of power with seven new locations
• The company plans to achieve 37 EH/s in hash rate by the end of 2024
• CleanSpark’s strategy includes integrating new S21 Pro miners across all sites

Recently, CleanSpark announced its large expansion to all its mining campuses, which would add more than 85 MW at seven new locations. The company will finalize this acquisition by September 2024. With this latest move, CleanSpark makes an attempt toward dominance in the bitcoin mining industry despite its tumultuous condition at the moment.

CleanSpark Mining Operations Expand to Add 85 MW Amid Industry Challenges

prudently, CleanSpark updated that the new facilities, each ranging from 10 MW to 20 MW, will add over 85 MW of mining capacity. It intends to close the purchase of all seven sites by September 25, 2024.

"With the activation of our Dalton 4 campus last week, we have already eclipsed 23 EH/s and expect more hash rate to come online this week with the activation of 50 MW of S21 pros at Sandersville," said CleanSpark CEO Zach Bradford.

"Tennessee has a political and energy environment not dissimilar from Georgia, where we have invested nearly $1 billion in capital and operate nearly 500 MW."

The newly acquired sites by CleanSpark will also fully utilize the recent purchase of the S21 Pro miners, adding yet more firepower to its growing network. In August alone, this public bitcoin mining company announced the acquisition of 26,000 units of Bitmain's S21 XP immersion mining machines.

This recent seven-site acquisition comes at a bad time when miner revenues have drastically fallen and operators are feeling the pressure of the current low hash price.

Conclusion

This new acquisition proves that CleanSpark is committed to growth, even in the very challenging context for the mining industry. Owing to its expansion strategy and adoption of the most advanced technologies, after the new acquisition, the company will be well on track to reach 37 EH/s by the end of 2024