CleanSpark (CLSK) Expands Operational Capacity with New Bitcoin Mining Acquisitions

By Bobby Samwell • Tuesday, September 17 15:20 • Permanent Link

Cleanspark Inc. (NASDAQ: CLSK) has made significant strides in expanding its operational capacity, as evidenced by its recent acquisitions and closures. The company's latest move involves the acquisition of two bitcoin mining sites near Clinton, Mississippi, with a combined purchase price of $5.775 million. These sites, which will support a total of 16.5 MW, are expected to be turnkey ready by December 1, 2024, housing S21 Pro miners with a combined operating hashrate of approximately 1 EH/s.

Additionally, Cleanspark closed on its previously announced 45 MW site in Wyoming on September 11, 2024. This site is anticipated to contribute an additional 3 EH/s to the company's hashrate upon completion and will feature immersion-cooled bitcoin mining data centers supporting the latest generation S21 Immersion XPS.

The company's CEO, Zach Bradford, highlighted the substantial increase in operational capacity over the last seven days, totaling 211.5 MW of new capacity. This represents a remarkable 38% increase, aligning with the company's targets of reaching 37 EH/s by the end of 2024 and 50 EH/s in 2025.

This rapid growth underscores Cleanspark's commitment to delivering long-term shareholder value and solidifies its position as America's Bitcoin Miner®. The company's strategic focus on expanding its data center portfolio reflects its dedication to supporting the essential tool of bitcoin while operating responsibly with low-carbon power.

Cleanspark's recent developments showcase its dedication to growth and its ability to capitalize on opportunities in the evolving cryptocurrency and blockchain landscape. Today the company's shares have moved -0.6% to a price of $9.02. Check out the company's full 8-K submission here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.