CleanSpark to acquire seven bitcoin mining facilities

CleanSpark announced it has entered into definitive agreements to acquire seven bitcoin mining facilities and certain associated land in the Knoxville, Tennessee, area for total cash payments of $27.5M, or approximately $324,000 per megawatt. This acquisition builds on the Company’s strategy of securing high-quality infrastructure opportunities at market-leading valuations. The Company anticipates closing at each of the sites on or before September 25, 2024. The operating hashrate of the combined facilities is anticipated to result in 5 exahashes per second, or EH/s, once the latest generation S21 pro miners are installed, increasing the Company’s current hashrate by over 22%. The miners required for this expansion have recently arrived and will be installed promptly upon the closing of each site. The seven sites total 85 MW and range in size from 10 MW to 20 MW.