Bitcoin Miner Cleanspark Completes Sandersville Facility Acquisition, Firm’s Hashrate Now 4.7 Exahash

On October 11, the publicly-listed bitcoin miner Cleanspark introduced that it has accomplished the acquisition of Mawson Infrastructure Group’s Georgia-based bitcoin mining facility. Following the acquisition, Cleanspark says it now manages 220 megawatts (MW) of bitcoin miners with a hashrate of over 4.7 exahash per second (EH/s).

Cleanspark Hashrate Moves Closer to five Exahash, Firm Obtains 6,500 Mining Rigs From the Facility Acquisition

Cleanspark (Nasdaq: CLSK) revealed on Tuesday that the mining agency has completed the acquisition of Mawson’s Georgia-based bitcoin mining facility positioned in Sandersville. The acquisition, Cleanspark says, included 6,500 mining rigs or roughly 560 petahash per second (PH/s) of hashpower.

According to Cleanspark, the Sandersville website is the publicly-listed bitcoin miner’s fourth facility in Georgia. The different places Cleanspark operates are positioned in Washington, College Park, and Norcross.

“Mawson has constructed a world-class facility, staffed by an unimaginable workforce, and we’re trying ahead to persevering with their work in Sandersville, ultimately constructing this website to its full potential of 230 MW as we work towards our 2023 year-end steerage of twenty-two.4 EH/s,” Zach Bradford, Cleanspark’s CEO, mentioned on Tuesday in an announcement.

Cleanspark’s elevated hashrate follows Bitcoin’s whole hashrate tapping an all-time excessive (ATH) on October 5, 2022, and the community’s mining issue reaching an ATH on October 10. With the present issue ATH and bitcoin’s (BTC) value simply barely above the $19K vary, the headwinds have put important stress on BTC miners trying to maximize income.

Cleanspark’s CEO Zach Bradford has talked about previously that the corporate managed to thrust back the crypto winter and it additionally managed to search out opportunities through the downturn. In addition to buying Mawson’s facility, Cleanspark acquired 1000’s of bitcoin miners at a reduction.

“During the tail finish of the bull market final 12 months, we strategically targeted on constructing infrastructure as a substitute of following the then business development of pre-ordering tools months prematurely,” Bradford said on the time.

Following the announcement and on the time of writing, CLSK shares traded on Nasdaq are up 3.05%. Six-month statistics, nonetheless, present CLSK shares are down 70.08% towards the U.S. greenback and year-to-date, CLSK is down 68.77%.

Since it entered Georgia, Cleanspark says that the agency has invested “$275 million in Georgia communities” and it has supplied “over 80 extremely expert and expert jobs, scholarships, and varied group sponsorships” within the area.

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