CleanSpark Purchases Five Georgia-Based Mining Facilities

CleanSpark Purchases Five Georgia-Based Mining Facilities

CleanSpark’s Latest Acquisitions

On Friday, crypto mining firm CleanSpark announced it had signed a contract to buy five mining farms in Georgia. Per the company’s statement, the $25.5 million deal is financed with cash and is expected to close soon. The five mining facilities will generate a combined processing power of 3.7 EH/s (exahashes per second).

CleanSpark says it plans to acquire more facilities to achieve a hashrate of 20 EH/s before the end of the third quarter. Meanwhile, the newly purchased mining farms come with interruptible-load designated PPAs (power purchase agreements) to offer the local electrical grid load-balancing services.

In a statement following the purchase of the mining facilities, CleanSpark boss Zach Bradford hightlighted several benefits of a healthy relationship between regional energy infrastructure and mining operators. He said American crypto mining firms now have an opportunity to increase their computational power and become more competitive.

US-Based Mining Companies and the Presidential Election in 2024

Over the past few weeks, the crypto mining sector in the US has attracted massive attention following ex-president Donald Trump’s declaration that he would create a conducive environment for crypto and ensure the remaining BTC is mined in the United States.

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On June 12, during a private meeting with executives of crypto mining companies TeraWulf, Riot Platforms, and CleanSpark, Trump described Bitcoin as the “line of defense” against an American CBDC (central bank digital currency). He also said Bitcoin had the potential to make the United States energy dominant.

Following the meeting, the stocks of various mining companies rallied significantly last week, with TeraWulf leading the pack. Even though most crypto players welcomed Trump’s comments, some criticized him, claiming he was clueless about the cryptocurrency sector and only hunting for votes.

Top Crypto Miners Launch a Crypto Educational Program

Those crypto miners who support the former president, including Riot Platforms, Marathon Digital Holdings, and CleanSpark, have announced the launch of the “Bitcoin Voter Project,” a non-profit organization intended to create awareness and educate the masses about blockchain technology and crypto markets.

It is worth mentioning that Trump was once against crypto, calling it a “scam” at some point. However, he has changed his tone and now asking his supporters to donate in cryptocurrencies.

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Michael Varney
About Author

Michael Varney

Michael Varney, a distinguished name in crypto journalism, offers deep insights into the world of blockchain. Merging meticulous research with eloquent prose, Michael's articles decode the complexities of digital currencies, establishing him as an indispensable source for those keen on understanding the evolving crypto landscape.

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