CleanSpark Acquires 5 Mining Facilities in Georgia, Boosts Hashrate to 20 EH/s

CleanSpark, an American Bitcoin mining company focused on clean energy, announced the acquisition of five mining facilities in Georgia. This $25.8 million deal is expected to close immediately and will increase CleanSpark's hashrate to over 20 exahashes per second by the end of June. The five facilities combined are predicted to exceed 3.7 exahashes per second in processing power, ranging from 8 to 15 megawatts of power, for a combined 60 megawatts. The new facilities also include interruptible-load designated power purchase agreements (PPAs) to provide load-balancing services to the local electrical grid. CleanSpark CEO Zach Bradford emphasized the beneficial relationship between Bitcoin mining operations and regional energy infrastructure, stating that these sites enhance load balancing capabilities for the local cities. This acquisition comes at a time when the Bitcoin mining industry in the US is gaining attention, with former President Trump advocating for Bitcoin to be "made in the USA" and calling it America's "last line of defense" against a central bank digital currency (CBDC). Trump's comments, while met with skepticism from some, have been welcomed by others as a positive gesture for the crypto industry.