July 24, 2024
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Latest Cryptocurrency News

CleanSpark Expands with Georgia Mining Acquisition

Acquisition of Five Georgia Mining Facilities

CleanSpark, a U.S.-based Bitcoin mining company focused on clean energy, announced an agreement to acquire five mining facilities in Georgia. The $25.8 million deal, announced on June 18, is “expected to close immediately.” These new facilities are projected to offer a combined processing power of more than 3.7 exahashes per second.

Enhanced Processing Capabilities

The newly acquired mining sites range in operational capacity from 8 to 15 megawatts of power, with a total of 60 megawatts across all five facilities. CleanSpark is optimistic that this acquisition will boost the company’s total hashrate to over 20 exahashes per second by the end of June. Additionally, these facilities include interruptible-load designated power purchase agreements (PPAs), which help balance the local electrical grid.

Strategic Vision and Industry Impact

After the acquisition announcement, CleanSpark’s CEO, Zach Bradford, emphasized the positive relationship between Bitcoin mining operations and regional energy infrastructure. Bradford stated, “These sites not only enhance the load balancing capabilities for the local cities we work with but lock in the achievement of our mid-year target of achieving 20 EH/s of operating hashrate.”

Broader Industry and Political Context

The Bitcoin mining industry in the U.S. has gained more attention, especially after former President Trump called for Bitcoin to be “made in the USA.” In a recent private meeting with leaders from Riot Platforms, CleanSpark, and TeraWulf, Trump highlighted Bitcoin’s potential role in making America energy dominant. His comments have sparked mixed reactions within the crypto community, ranging from skepticism to support.

Conclusion: Industry and Political Developments

Following Trump’s meeting and his support for the crypto industry, executives from Marathon Digital Holdings, CleanSpark, and Riot Platforms launched “The Bitcoin Voter Project.” This non-profit organization aims to educate voters about the digital asset market and the blockchain industry, focusing on awareness rather than political endorsement. As CleanSpark continues to grow its operations in Georgia, the relationship between energy, technology, and politics remains an evolving landscape.

Image by www.slon.pics on Freepik

Disclosure Statement: Miami Crypto does not take any external funding, or support to bring crypto news to the readers. We do not have any conflicts of interest while writing news stories on Miami Crypto.

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