The most recent additions to the CleanSpark portfolio characterize the vanguard of practically 1 GW of latest alternatives at present being analyzed
Acquisitions are anticipated to extend Firm’s working hashrate to over 20 EH/s by month’s finish utilizing already bought {hardware}
Amenities will present load balancing capabilities for the native electrical municipal cooperatives (EMCs) during which they’re situated
LAS VEGAS, June 18, 2024 /PRNewswire/ — CleanSpark Inc. (Nasdaq: CLSK), America’s Bitcoin Miner™, at present introduced it has entered into definitive agreements to accumulate 5 turnkey bitcoin mining services in rural Georgia for a money fee of $25.8 million.
The acquisition is predicted to shut instantly, with the working hashrate of the mixed services anticipated to exceed 3.7 exahashes per second (EH/s) upon full set up of the most recent technology S21 professional miners.
“Our acquisition of these five new mining sites marks a significant milestone in our strategic growth plan and represents the leading edge of nearly one gigawatt of new opportunities being analyzed by our teams,” stated Zach Bradford, CEO of CleanSpark. “These sites not only enhance the load balancing capabilities for the local cities we work with, but lock in the achievement of our mid-year target of achieving 20 EH/s of operating hashrate. This achievement underscores our commitment to scaling efficiently and sustainably and we are excited to bring these facilities into the CleanSpark way of mining bitcoin. We are confident in our continued ability to drive shareholder value and innovation in the bitcoin mining industry.”
The 5 websites vary in measurement from 8 MW to fifteen MW, for a complete of 60 MW, and embrace interruptible-load designated energy buy agreements (PPAs). Load balancing is a singular profit that bitcoin miners present native energy grids due to their means to curtail power use based mostly on native demand, particularly throughout uncommon occasions of unusually excessive demand on the grid, resembling very chilly and very scorching climate.
The definitive agreements embrace the acquisition of mining information facilities and gear at every web site, excluding the miners, and the idea of the underlying actual property leases and energy agreements by the Firm.
CleanSpark at present owns and operates about 300 MW of infrastructure in Georgia. After these newly introduced websites go stay, and after Sandersville is absolutely energized, the Firm will function over 400 MW of infrastructure in Georgia. The Firm additionally operates infrastructure in Mississippi, co-locates machines in upstate New York, and has introduced areas in Wyoming.
About CleanSpark
CleanSpark (Nasdaq: CLSK) is America’s Bitcoin Miner™. We personal and function information facilities that primarily run on low-carbon energy. Our infrastructure responsibly helps Bitcoin, the world’s most necessary digital commodity and a vital software for monetary independence and inclusion. We domesticate belief and transparency amongst our workers and the communities we function in. Go to our web site at www.cleanspark.com.
Ahead-Trying Statements
This press release incorporates forward-looking statements inside the which means of the Non-public Securities Litigation Reform Act of 1995. On this press release, forward-looking statements embrace, however might not be restricted to, statements concerning the Firm’s expectations, beliefs, plans, intentions, and techniques. In some circumstances, you may establish forward-looking statements by phrases resembling “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “forecasts,” “predicts,” “potential” or “continue” or the destructive of those phrases or different comparable expressions. The forward-looking statements are topic to quite a lot of recognized and unknown dangers, uncertainties and different necessary components which will trigger our precise outcomes, efficiency or achievements to be materially totally different from any future outcomes, efficiency or achievements expressed or implied by the forward-looking statements, together with, however not restricted to: the timing and shutting of the transactions; anticipated additions to CleanSpark’s hashrate and the timing thereof; the danger that {the electrical} energy out there to our services doesn’t enhance as anticipated; the success of its digital foreign money mining actions; the risky and unpredictable cycles within the rising and evolving industries during which we function; rising problem charges for bitcoin mining; bitcoin halving; new or further governmental regulation; the anticipated supply dates of latest miners; the flexibility to efficiently deploy new miners; the dependency on utility charge buildings and authorities incentive packages; dependency on third-party energy suppliers for growth efforts; the expectations of future income development might not be realized; and different dangers described within the Firm’s prior press releases and in its filings with the Securities and Trade Fee (SEC), together with beneath the heading “Risk Factors” within the Firm’s Annual Report on Type 10-Ok for the fiscal yr ended September 30, 2023, and any subsequent filings with the SEC. Ahead-looking statements contained herein are made solely as to the date of this press release, and we assume no obligation to replace or revise any forward-looking statements on account of any new info, modified circumstances or future occasions or in any other case, besides as required by relevant regulation.
Investor Relations Contact
Brittany Moore
702-989-7693
[email protected]
Media Contact
Eleni Stylianou
702-989-7694
[email protected]
SOURCE CleanSpark, Inc.