CleanSpark acquires 5 mining facilities in Georgia

CleanSpark, an American Bitcoin mining company focused on using clean energy, announced a definitive agreement to acquire five mining facilities in Georgia.

In a June 18 announcement, CleanSpark explained that the $25.8 million deal is “expected to close immediately” and revealed that the five facilities combined are predicted to exceed 3.7 exahashes per second in processing power.

The mining sites vary in operational capacity, from 8 to 15 megawatts of power, for a combined 60 megawatts across the facilities. Spokespeople for CleanSpark expressed confidence that the company’s total hashrate would increase to over 20 exahashes per second by the end of June.

Additionally, the newly acquired facilities include interruptible-load designated power purchase agreements (PPAs) to provide load-balancing services to the local electrical grid.

Following the acquisition announcement, CleanSpark's CEO Zach Bradford issued a forward-looking statement noting the beneficial relationship between Bitcoin mining operators and regional energy infrastructure.

"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."

Related: Bitcoin miners rise 10% after Trump promises to back US miners .

American mining companies and the 2024 Presidential election

The Bitcoin mining industry in the United States has come under sharper focus after former President Trump declared that Bitcoin should be " made in the USA ," and hosted a private meeting with industry leaders from Riot Platforms, CleanSpark, and TeraWulf.

In a June 12 social media post, the 2024 Presidential candidate argued that Bitcoin might be America's "last line of defense" against a central bank digital currency (CBDC), before suggesting that Bitcoin could make the United States energy dominant.

Trump's comments have ignited a firestorm within the crypto community, with some arguing that he has no idea about the crypto industry and is merely pandering for votes. However, others like Shapeshift founder Erik Vorhees say that the details behind Trump's comments are much less significant than the welcome gesture they represent .

Mining industry reacts 

Immediately following Trump's meeting with mining industry players and his stated support for the broader crypto industry, executives from Marathon Digital Holdings, CleanSpark, and Riot Platforms launched " The Bitcoin Voter Project ."

The 501(c)(4) non-profit organization is a non-partisan voter education initiative aimed at raising awareness and disseminating knowledge about the nascent digital asset market and the blockchain industry, rather than supporting any candidates or parties.

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