Cleanspark acquires plug-in ready Bitcoin mining facility
- BTC price at time of writing – $23,093.05
- The crypto asset’s hash rate fell 1.7% lower in Q2
- The new plant has capacity for up to 86 MW
On Tuesday, bitcoin mining organization Cleanspark reported that it acquired a modular prepared bitcoin mining office versatile to a limit of 86 megawatts (MW).
As of now, the newly opened site in Washington, Georgia has 36 megawatts, which would be considered normal to give Cleanspark’s hashrate a 38% increase this quarter.
After Cleanspark Inc revealed last month that it acquired 1,061 bitcoin miners at a limited value, the organization declared that it has acquired a new office in Washington, the regional seat of Wilkes County, Georgia.
Publicly Listed Bitcoin Miner Cleanspark Expands Operations in Georgia
The new office has the ability to have up to 86 MW and Cleanspark purchased the office for $16.2 million. The mining company also purchased 3,400 Antminer S19 mining rigs for $8.9 million.
The Antminer rigs are currently active with 340 petahash per second (PH/s) of hash power. Cleanspark will fill the balance of the 36 MW with machines previously paid for and available, Tuesday’s statement.
The new office will be Cleanspark’s third perfect energy bitcoin mining office in Georgia. The organization says it expects to develop the office’s framework and strengthen nearby positions in the district. The site uses low-carbon energy sources such as nuclear, which Cleanspark’s statement makes sense.
They are eager to increase their exposure in Georgia, Cleanspark CEO Zach Bradford said in a statement. The market has set up all summer for combination, and they are happy to be on the catch-up side.
Their emphasis on supportability and increasing an incentive for their partners has put us in a new situation to make the most of the extraordinary open doors that the ongoing business sector has made.
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The price of bitcoin has hurt BTC mining revenue
Cleanspark stock CLSK has seen gains over the past 30 days and rose 10.51%, but one year insight shows that CLSK has lost 67.86%. Various other openly registered mining organizations have seen shares follow a similar downward trend as digital currencies in the ongoing bear market. For example, Marathon Digital Holdings detailed that it recorded negative Q2 results, but the organization saw expansions in bitcoin creation.
The cost of bitcoin has hurt BTC’s mining revenue, and the hash rate of the main crypto asset fell 1.7% lower in Q2 compared to the main quarter.
Despite the crypto winter, Cleanspark has extended itself, and when it acquired two bulk requests of ASIC miners in July at a discount, Bradford said Cleanspark saw exceptional open doors in this market.
