The renewable bitcoin mining company acquired a new facility in Georgia which will hold up to 70,000 mining rigs at full capacity by the end of next year.
Bitcoin mining company CleanSpark Inc.(Nasdaq: CLSK), has entered into an agreement with Mawson Infrastructure Group (Nasdaq: MIGI) to purchase a mining facility for $ 33 million, per a press release sent to Bitcoin Magazine.
The turnkey mining facility in Sandersville, Georgia is expected to add 1.4 exahashes per second (EH/s) to CleanSpark’s hash rate before the end of the year. By early 2023, the facility should provide a total output of 2.4 EH/s, increasing up to 7 EH/s by the end of 2023. The company has a goal of 22 EH/s across all locations by the end of 2023.
Currently, the Sandersville facility can support up to 24,108 of the latest mining rigs. However, the added hash rate will come once the company successfully expands the facility by 150 megawatts (MWs) towards the end of next year. Once the facility is operating at full capacity it will support 70,000 mining rigs.
“We are pleased to welcome Mawson’s Sandersville site and its operating teams into the CleanSpark family,” said Zachary Bradford, CleanSpark’s chief executive officer. “The site is nothing but impressive— well-run by over 20 dedicated professionals who have taken significant pride in the design, development, and maintenance of the site.”
Additionally, CleanSpark will be purchasing 6,648 of the latest generation of bitcoin miners from Mawson for $ 9.48 million, or $ 17 per terahash. These machines provide 558 terahashes per second (PH/s) and are already operating at the acquired facility.
As a transitory measure, CleanSpark will provide temporary hosting services while Mawson transfers their mining operations. Mawson will have access to 30 MW for up to 180 days. Upon the end of this transition, CleanSpark will immediately begin self-mining operations with the available capacity.
“We now intend to focus our attention on the continued development of our Pennsylvania and Texas facilities where we see the opportunity for compelling returns on capital,” said James Manning, CEO of Mawson.