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Cleanspark acquires plug-and-play bitcoin mining facility with up to 86MW of capacity – Mining Bitcoin News

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On Tuesday, bitcoin mining company Cleanspark announced the acquisition of a plug-and-play bitcoin mining rig that is scalable up to 86 megawatts (MW) of capacity. Currently, the newly opened location in Washington, Georgia has 36 megawatts, which is expected to give Cleanspark’s hashrate a 38% increase this quarter.

Listed Bitcoin Miner Cleanspark Expands Georgia Operations

After Cleanspark Inc. (Nasdaq: CLSK) revealed last month that it had acquired 1,061 bitcoin miners at a “discounted price,” the company announced that it had acquired a new facility in Washington, the headquarters of the Wilkes County, Georgia. The new facility has the capacity to house up to 86 MW and Cleanspark purchased the facility for $16.2 million. The mining company also purchased 3,400 Antminer S19 mining rigs for $8.9 million.

Antminer rigs currently run on 340 petahash per second (PH/s) of hashing power. “[Cleanspark] will fill the remaining 36 MW with machines already paid for and available,” details Tuesday’s announcement. The new facility will be Cleanspark’s third clean-energy bitcoin mining facility in Georgia. The company says it looks forward to expanding the facility’s infrastructure and bolstering local jobs in the area. The site uses low-carbon energy sources such as nuclear, Cleanspark’s announcement explains.

“We are excited to expand our footprint in Georgia,” Cleanspark CEO Zach Bradford said in a statement. The market has been preparing for consolidation all summer and we are happy to be on the side of the buyers. Our focus on sustainability and maximizing value for our stakeholders places us in a unique position to take advantage of the unprecedented opportunities created by today’s market. Bradford continued:

We are especially thrilled to work with the citizens of Washington, GA, who have been so hospitable to us. We look forward to maintaining and expanding the jobs and infrastructure at our new campus in Washington.

Cleanspark CLSK shares have seen gains over the past 30 days up 10.51%, but year-over-year stats show CLSK lost 67.86%. A number of other publicly traded mining companies have seen stocks follow the same downward trend as cryptocurrencies in the current bear market. For example, Marathon Digital Holdings (Nasdaq: MARA) reported negative results in the second quarter, but the company saw an increase in bitcoin production.

The price of bitcoin hurt BTC mining revenue and the hashrate of the major crypto asset fell 1.7% in Q2 compared to Q1. Despite the crypto winter, Cleanspark continued to grow, and when it acquired two bulk orders of ASIC miners in July at a discount, Bradford pointed out that Cleanspark saw “unprecedented opportunities in this market.”

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What do you think of Cleanspark acquiring a facility in Washington, Georgia with a capacity of up to 86 MW and purchasing 3,400 Antminers? Let us know your thoughts on this in the comments section below.

Jamie Redman

Jamie Redman is the news manager for News and a fintech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written over 5,700 articles for News about disruptive protocols emerging today.

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