CleanSpark has acquired 5 mines in Georgia
CleanSpark, an American Bitcoin mining company focused on using clean energy, has announced a definitive agreement to acquire five mining facilities in Georgia.
In a June 18 announcement, CleanSpark said the $25.8 million deal is “expected to close immediately” and that the five facilities combined would be more than 3.7 exahashes.
The mine sites vary in their capacity from 8 to 15 megawatts with a total power of 60 megawatts. A CleanSpark spokesperson said they believe the company's total hashrate will exceed 20 per second by the end of June.
In addition, the newly purchased facilities include power purchase agreements (PPAs) designated as interruptible-load to provide load-balancing services to the local electric grid.
Following the acquisition announcement, CleanSpark CEO Zach Bradford issued a forward-looking statement citing the important relationship between Bitcoin mining operators and the region's energy infrastructure.
“These sites will not only increase the load balancing capacity of the local cities we serve, but will also help us achieve our goal of achieving a 20 EH/s operating hashrate by mid-year.”
Related: Bitcoin miners surge 10% after Trump promises to support US miners
American mining companies and the 2024 presidential election
The U.S.-based Bitcoin mining industry has received more attention after former President Trump announced that Bitcoin must be “Made in the USA” and held private meetings with industry leaders from Riot Platform, CleanSpark, and TeraWulf.
In a June 12 social media post,
Trump's comments have caused quite a stir in the crypto community, with some arguing that he has no understanding of the crypto industry and is just vying for votes. However, others, like Shapeshift founder Eric Voorhees, say the details behind Trump's comments are far less than the welcome gesture they represent.
The mining industry responds
Executives from Marathon Digital Holdings, CleanSpark and Riot Platforms launched “The Bitcoin Voter Project” after Trump's meeting with mining industry players and his support for the broader crypto industry.
The 501(c)(4) non-profit organization is a voter education initiative that aims to raise awareness and spread knowledge about the emerging digital asset market and the blockchain industry, rather than endorsing any candidates or parties.
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