CleanSpark, a US-based Bitcoin mining company with a focus on sustainable energy, has announced a definitive agreement to purchase five mining facilities in Georgia.
In a statement released on June 18, CleanSpark disclosed that the deal worth $25.8 million is expected to be finalized soon. The company also revealed that the five facilities are estimated to collectively produce over 3.7 exahashes per second in processing power.
The mining sites have varying operational capacities, ranging from 8 to 15 megawatts of power, totaling 60 megawatts across all locations. Representatives from CleanSpark expressed confidence that the company’s total hashrate would surpass 20 exahashes per second by the end of June.
Furthermore, the newly acquired facilities come with interruptible-load designated power purchase agreements (PPAs) to offer load-balancing services to the local electrical grid.
After the acquisition announcement, CleanSpark’s CEO Zach Bradford issued a forward-looking statement highlighting the positive relationship between Bitcoin mining operators and regional energy infrastructure.
In related news, the Bitcoin mining industry in the United States has garnered increased attention following former President Trump’s endorsement of US-based Bitcoin mining. Trump recently held a private meeting with industry leaders from Riot Platforms, CleanSpark, and TeraWulf.
In a social media post on June 12, the potential 2024 Presidential candidate suggested that Bitcoin could play a crucial role in securing America’s economic dominance, particularly in the face of a central bank digital currency (CBDC).
Trump’s remarks have sparked debate within the crypto community, with some questioning his understanding of the industry and accusing him of political grandstanding. However, others, such as Shapeshift founder Erik Vorhees, believe that the sentiment behind Trump’s comments is more significant than the specifics.
In response to Trump’s support for the crypto industry, executives from Marathon Digital Holdings, CleanSpark, and Riot Platforms have launched “The Bitcoin Voter Project.” This non-profit organization aims to educate voters about the digital asset market and blockchain industry without endorsing any specific candidates or parties.
Additionally, a magazine article titled “Account abstraction’ supercharges Ethereum wallets: Dummies guide” delves into the technical aspects of Ethereum wallets and their potential impact on the industry.