CleanSpark to Acquire 75 MW of Bitcoin Mining Sites in Wyoming for $18.75 Million
CleanSpark Inc. (Nasdaq: CLSK) is set to acquire two bitcoin mining sites in Wyoming with 75 MW of available power for $18.75 million, expected to add over four exahashes per second once fully operational. The agreement includes the potential to expand the sites by an additional 55 MW, marking Wyoming as the third state in the Company's portfolio of bitcoin mining facilities. CleanSpark aims to deploy the most powerful and efficient bitcoin mining machines for this expansion, continuing its growth strategy towards 50 EH/s.
CleanSpark's acquisition of two bitcoin mining sites in Wyoming with significant power capacity will significantly increase the Company's hashrate, positioning it for further growth in the bitcoin mining sector.
The potential to expand the acquired sites by an additional 55 MW provides CleanSpark with the opportunity for future scalability and increased mining capacity.
The strategic diversification of CleanSpark's portfolio with the addition of the Wyoming sites demonstrates the Company's commitment to expansion and leveraging opportunities in the bitcoin mining industry.
The cash payment of $18.75 million for the acquisition may impact CleanSpark's short-term liquidity and financial position, depending on its cash reserves and available capital.
The competitive nature of the bitcoin mining sector and potential regulatory changes could present challenges for CleanSpark in maintaining profitability and market share amid industry dynamics.
Insights
The agreement includes the potential to expand the sites by an additional 55 MW
The company plans to deploy a combination of S21 and S21 pros, the most powerful and efficient generation of bitcoin mining machines, from orders placed and fully funded earlier this year. The agreement includes the potential to expand the sites by an additional 55 MW. Combined, the two facilities would add over 7 EH/s to CleanSpark's hashrate as the Company continues its path of sustained progress toward 50 EH/s.
"Just three short months ago, we took a leap and expanded into
CleanSpark owns and operates eight different data centers across the American south, with nearly 400 MW currently under management. It co-locates about 50 MW of machines at a data center in upstate
About CleanSpark
CleanSpark (Nasdaq: CLSK) is America's Bitcoin Miner™. We own and operate data centers that primarily run on low-carbon power. Our infrastructure responsibly supports Bitcoin, the world's most important digital commodity and an essential tool for financial independence and inclusion. We cultivate trust and transparency among our employees and the communities we operate in. Visit our website at www.cleanspark.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In this press release, forward-looking statements include, but may not be limited to, statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "targets," "projects," "contemplates," "believes," "estimates," "forecasts," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions. The forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: the timing and closing of the transaction; obtaining the additional 55 MW in
Investor Relations Contact
Brittany Moore
702-989-7693
ir@cleanspark.com
Media Contact
Eleni Stylianou
702-989-7694
pr@cleanspark.com
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SOURCE CleanSpark, Inc.
FAQ
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