On Oct. 11, publicly traded bitcoin miner Cleanspark announced that it completed the acquisition of Georgia-based Mawson Infrastructure Group’s bitcoin mining facility. Following the acquisition, Cleanspark says it now manages 220 megawatts (MW) of bitcoin miners with a hash rate of more than 4.7 exhash per second (EH/s).
Cleanspark Hashrate Approaches 5 Exahash, Company Gets 6,500 Mining Rigs From Facility Acquisition
Cleanspark (Nasdaq: CLSK) revealed on Tuesday that the mining company has finalized the acquisition of Mawson’s Georgia-based bitcoin mining facility located in Sandersville. The acquisition, says Cleanspark, included 6,500 mining rigs or roughly 560 petahash per second (PH/s) of hashing power.
According to Cleanspark, the Sandersville site is the publicly traded bitcoin miner’s fourth facility in Georgia. The other locations Cleanspark operates are located in Washington, College Park and Norcross.
“Mawson has built a world-class facility, serviced by an incredible team, and we look forward to continuing their work at Sandersville, eventually building this site to its full potential of 230 MW as we work toward our 2023 year-end guidance of 22, 4 EH/s,” Zach Bradford, CEO of Cleanspark, said in a statement Tuesday.
Cleanspark’s increased hashrate follows Bitcoin’s total hashrate reaching an all-time high (ATH) on October 5, 2022, and the network’s mining difficulty reaching an ATH on October 10. With the current ATH difficulty and bitcoin (BTC) price just above the $19 K Rank, headwinds have put significant pressure on BTC miners looking to maximize profits.
Cleanspark CEO Zach Bradford has mentioned in the past that the company managed to avoid the crypto winter and also managed to find opportunities during the recession. In addition to acquiring the Mawson facility, Cleanspark acquired thousands of bitcoin miners at a discount.
“During the tail end of last year’s bull market, we strategically focused on building infrastructure rather than following the industry trend of ordering equipment months in advance,” Bradford said at the time.
Following the announcement and at the time of writing, CLSK shares traded on Nasdaq are up 3.05%. However, six-month statistics show that CLSK shares are down 70.08% against the US dollar and CLSK is down 68.77% YTD.
Since entering Georgia, Cleanspark says the company has invested “$275 million in Georgia communities” and has provided “more than 80 high-skilled and skilled jobs, scholarships, and various community sponsorships” in the region.
What do you think about Cleanspark finalizing the acquisition of Mawson’s Georgia-based mining data center? Let us know what you think about this topic in the comments section below.
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