CleanSpark Inc, a North American sustainable Bitcoin mining company, has acquired an active mining facility in Washington, Georgia for $16.2 million, per a press release sent to Bitcoin Magazine.
“This partnership will diversify our local industry, create rural technology jobs, expand our electric customer base, and invest in our community,” said Washington Mayor Bill deGolian.
This acquisition is scalable and can add up to 86 megawatts (MW) or 2.6 exahashes per second (EH/s) to the growing capacity of CleanSpark. Currently, the facility operates at 36 MW with a hash rate of 1.1 EH/s increasing the sustainable miners hash rate by 38%.
CleanSpark will fill the initial capacity of 36 MW with machines that have already been purchased and are in inventory, but the acquisition allows the company exclusive rights to scale the facility to the aforementioned 86 MW.
Furthermore, the company has purchased 3,400 additional Antminer S19 series miners for $8.9 million, which will bolster the company’s hash rate by 340 petahashes per second (PH/s) once fully deployed.
This most recent acquisition marks the third sustainable facility CleanSpark has located in Georgia, with the other two being in College Park and Norcross. All of these locations primarily use low-carbon energy sources, such as nuclear energy.
Truly, marketwide capitulations have staggered many in the bitcoin ecosystem. Those same market conditions created the opportunity for CleanSpark to purchase this facility initially helmed by Waha Technologies, another sustainable bitcoin mining company.
“The market has been preparing all summer for consolidation, and we are pleased to be on the acquiring side,” said Zach Bradford, CEO of CleanSpark.