CleanSpark acquires 5 mining facilities in Georgia

Vince Quill7 hours agoCleanSpark acquires 5 mining facilities in GeorgiaThe new facilities are expected to increase CleanSpark’s hashrate to over 20 exahashes per second by the end of June, spokespeople claimed.4142 Total views1 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksCleanSpark, an American Bitcoin (BTC) mining company focused on using clean energy, announced a definitive agreement to acquire five mining facilities in Georgia.

In a June 18 announcement, CleanSpark explained that the $25.8-million deal is “expected to close immediately” and revealed that the five facilities combined are predicted to exceed 3.7 exahashes per second (EH/s) in processing power.

The mining sites vary in operational capacity, from 8 to 15 megawatts of power, for a combined 60 MW across the facilities. Spokespeople for CleanSpark expressed confidence that the company’s total hashrate would increase to over 20 EH/s by the end of June.

Additionally, the newly acquired facilities include interruptible-load designated power purchase agreements (PPAs) to provide load-balancing services to the local electrical grid.

Following the acquisition announcement, CleanSpark CEO Zach Bradford issued a forward-looking statement noting the beneficial relationship between Bitcoin (BTC) mining operators and regional energy infrastructure.“These sites not only enhance the load balancing capabilities for the local cities we work with, but lock in the achievement of our mid-year target of achieving 20 EH/s of operating hashrate.”

Related: Bitcoin miners rise 10% after Trump promises to back US minersAmerican mining companies and the 2024 presidential election

The Bitcoin mining industry in the United States has come under sharper focus after former President Donald Trump declared that Bitcoin should be “made in the USA” and hosted a private meeting with industry leaders from Riot Platforms, CleanSpark and TeraWulf.Source: Jason Les

In a June 12 social media post, the 2024 presidential candidate argued that Bitcoin might be America’s “last line of defense” against a central bank digital currency (CBDC) before suggesting that Bitcoin could make the U.S. energy dominant.

Trump’s comments have ignited a firestorm within the crypto community, with some arguing that he has no idea about the crypto industry and is merely pandering for votes. However, others like Shapeshift founder Erik Vorhees say that the details behind Trump’s comments are much less significant than the welcome gesture they represent.Mining industry reacts 

Immediately following Trump’s meeting with mining industry players and his stated support for the broader crypto industry, executives from Marathon Digital Holdings, CleanSpark and Riot Platforms launched “The Bitcoin Voter Project.”

The 501(c)(4) nonprofit organization is a non-partisan voter education initiative aimed at raising awareness and disseminating knowledge about the nascent digital asset market and the blockchain industry rather than supporting any candidates or parties.

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