CleanSpark acquires three Bitcoin mining facilities to reach 20 EH/s

CleanSpark has entered into definitive agreements to acquire three turnkey bitcoin mining facilities in Mississippi for a cash payment of $19.8M.The purchase is expected to close within 21 days, with the operating hashrate at the combined facilities expected to reach 2.4 EH/s shortly after closing. Concurrently, the company has entered into definitive agreements to acquire a third mining facility which is under construction in Dalton, GA, for an initial cash payment of $3.4M. The company expects to invest another $3.5M to complete the project, with a target operational date of April 2024. The facility is expected to operate at 0.8 EH/s. CleanSpark already operates approximately 0.8 EH/s of machines at its current campus in Dalton, comprised of two facilities. Additionally, the company is now expanding its existing Dalton campus with an extra 0.8 EH/s expected, for a total operating hashrate of 2.4 EH/s once all facilities in Dalton are running at full capacity. The two announced deals, combined with the imminent energization of the Sandersville expansion, provide CleanSpark the additional power it needs to exceed 20 EH/s during the first half of 2024, which is double the company’s current operational hashrate of 10 EH/s. The cexpects to pay for the acquisitions with cash on hand.