all about cryptop referances
On October 11, publicly traded bitcoin miner Cleanspark announced that it has completed the acquisition of Mawson Infrastructure Group’s Georgia-based bitcoin mining facility. Following the acquisition, Cleanspark says it now manages 220 megawatts (MW) of bitcoin miners with a hash rate of over 4.7 exahash per second (EH/s).
Cleanspark (Nasdaq: CLSK) revealed on Tuesday that the mining company has completed the acquisition of Mawson’s Georgia-based bitcoin mining facility located in Sandersville. The acquisition, Cleanspark says, included 6,500 mining rigs or about 560 petahashes per second (PH/s) of hashpower.
According to Cleanspark, the Sandersville site is the publicly traded bitcoin miner’s fourth facility in Georgia. The other locations Cleanspark operates are located in Washington, College Park and Norcross.
“Mawson has built a world-class facility, staffed by an incredible team, and we look forward to continuing their work in Sandersville, and ultimately building this site to its full potential of 230 MW as we work towards our 2023 year-end guidance of 22.4 EH/s,” Zach Bradford, Cleanspark’s CEO, said Tuesday in a statement.
Cleanspark’s increased hash rate follows Bitcoin’s total hash rate which has lost an all-time high (ATH) on October 5, 2022, and the network’s mining difficulty reaching an ATH on October 10. With today’s difficulty ATH and bitcoin’s (BTC) price barely above the $19K range, the headwinds have put significant pressure on BTC miners looking to maximize profits.
Cleanspark CEO Zach Bradford has previously mentioned that the company was able to stave off the crypto winter, and it was also able to find opportunities during the downturn. In addition to buying Mawson’s facility, Cleanspark bought thousands of bitcoin miners at a discount.
“During the end of the bull market last year, we strategically focused on building infrastructure rather than following the then industry trend of pre-ordering equipment months in advance,” Bradford said at the time.
Following the announcement and at the time of writing, CLSK shares are traded on Nasdaq up 3.05%. However, six month statistics show that CLSK stock is down 70.08% against the US dollar, and year to date CLSK is down 68.77%.
Since entering Georgia, Cleanspark says the firm has invested “$275 million in Georgia communities,” and it has provided “over 80 highly skilled and skilled jobs, scholarships and various community sponsorships” in the region.
What do you think of Cleanspark completing the acquisition of Mawson’s Georgia-based mining data center? Let us know what you think about this topic in the comments section below.
Image credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or an endorsement or recommendation of products, services or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is directly or indirectly responsible for damages or losses caused or alleged to be caused by or in connection with the use of or reliance on content, goods or services mentioned in this article.
