CleanSpark buys two Bitcoin mining campuses for $9.3M

Crypto mining steadfast CleanSpark is moving guardant with its assertive infrastructure enlargement successful the United States by acquiring 2 Bitcoin (BTC) mining facilities successful a $9.3 cardinal currency deal. 

According to a June 21 announcement, CleanSpark entered into a definitive statement to acquisition 2 turnkey Bitcoin mining campuses successful Dalton, Georgia. In turnkey Bitcoin mining, users tin bargain an assembled, configured, and optimized Bitcoin mining rig to usage connected mining farms.

The facilities volition big implicit 6,000 Antminer S19 XPs and S19J Pro+s, which are expected to adhd astir 1 exahash per 2nd (EH/s) to CleanSpark’s hashrate aft the deal. According to Zach Bradford, CEO of CleanSpark, the recently acquired infrastructure volition alteration the institution to scope its people of 16EH/s by the extremity of the year.

The acquisition follows respective acquisitions by CleanSpark successful caller months, contempt a slump successful BTC mining profitability during the carnivore market. In April, the institution announced the acquisition of 45,000 Antminer S19 XP rigs for $144.9 million, which is expected to adhd 6.4 EH/s of mining power.

In February, CleanSpark added 20,000 caller Antminer S19j Pro+ units to its portfolio for $43.6 million, expected to bring 2.44 EH/s to its computing power. A fewer weeks earlier, the institution announced a $16-million enlargement astatine its Georgia installation with 15,000 caller rigs.

The ongoing enlargement overlooks the declining profitability of Bitcoin mining, which has dropped to $0.066 per TH/s per time astatine the clip of writing, down from its $0.40 highest successful June 2019, according to information from Hashrate Index.

Bitcoin Hashprice implicit the past year. Source: Hashrate Index

With the fast-paced fleet expansion, CleanSpark anticipates being well-positioned for adjacent year's Bitcoin halving, expected betwixt April and May 2024. The adjacent halving volition trim Bitcoin artifact rewards to 3.125 BTC.

Bitcoin's terms has historically spiked post-halvings acknowledgment to a chopped successful the cryptocurrency's proviso arsenic request remained steady. “We proceed to marque usage of opportunities created by existent marketplace conditions to hole for adjacent year’s bitcoin halving,” CleanSpark CFO Gary Vecchiarelli said.

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