CleanSpark, a prominent player in the bitcoin mining sector, has announced the acquisition of five turnkey bitcoin mining facilities in Georgia for $25.6 million.
The facilities are expected to boost CleanSpark’s operational hash rate to over 3.7 exahashes per second (EH/s) once the latest generation of S21 pro miners are fully installed.
This move aligns with the company’s goal of achieving a 20 EH/s hash rate by mid-year.
“These sites not only enhance our load balancing capabilities but also mark a significant milestone in our growth strategy,” said CEO Zach Bradford.
“We are committed to scaling efficiently and sustainably, and these new facilities will play a key role in our operations.”
The newly acquired sites vary in size from 8 megawatts (MW) to 15 MW, totalling 60 MW. CleanSpark already manages approximately 300 MW of infrastructure in Georgia.
The company’s rapid expansion is further underscored by its recent acquisition of two bitcoin mining locations in Wyoming for $18.75 million, adding 75 MW of available power.
In May, CleanSpark mined 417 bitcoin, the first full month following April’s halving event.
As of May 31, the company holds 6,154 bitcoins with an existing hash rate of 17.97 EH/s.
The company’s stock has surged over 77% this year, outperforming bitcoin’s year-to-date gain of 47.5%.
Adding a notable twist to the company’s progress, former U.S. President Donald Trump expressed support for bitcoin mining and recently met with several miners, including CleanSpark’s co-founder S. Matthew Schultz, at Mar-a-Lago.
