CleanSpark is ready to purchase seven Bitcoin mining websites in Tennessee, together with related properties, for $27.5 million, in accordance to a Sept. 11 statement.
The miner said that these services have a mixed power capability of 85 megawatts (MW), which suggests the deal equates to about $324,000 per MW.
The corporate expects to finalize the acquisitions at every web site by Sept. 25.
Hash charge enhance
CleanSpark famous that the brand new websites are anticipated to attain a complete hash charge of 5 exahashes per second (EH/s) as soon as the most recent S21 Professional miners are totally put in. That is projected to enhance its present hash charge by over 22%.
Zach Bradford, CleanSpark’s CEO, stated the corporate might attain 37 EH/s by the top of 2024 with the addition of the brand new services whereas additionally highlighting the agency’s progress in energizing its Dalton 4 campus final week, which helped it to exceed 23 EH/s.
Bradford additionally emphasised the corporate’s technique of capitalizing on favorable market situations for mining server purchases. He stated:
“As we’ve previously discussed, our timing of the market on mining server purchases intentionally locked in low prices so that we could take advantage of opportunities like this and immediately fill acquired data center space. The GRIID acquisition, our recent closing in Wyoming, and now this new transaction represents the continued execution of our growth strategy. “
He further noted that Tennessee offers a political and energy environment similar to Georgia, where CleanSpark has already invested nearly $1 billion and operates close to 500 MW.
Despite the acquisition news, the company’s stock value declined. According to Yahoo Finance data, CLSK was trading down approximately 2%, at $9.19 as of press time.
Bitcoin production
This acquisition comes shortly after CleanSpark announced it had mined 478 BTC in August and increased its operational hashrate by 1.4 EH/s. The firm stated that it held 7,558 BT as of Aug. 31.
It added:
“The Company sold 2.5 bitcoin in August 2024 at an average price of approximately $56,729 per bitcoin. The average hashrate throughout the month of August was 21.3 EH/s resulting in an average of 15.43 bitcoin mined daily and a single day high of 17.88.”
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