CleanSpark, a US-based Bitcoin mining company dedicated to utilizing sustainable energy sources, has announced a definitive agreement to purchase five mining facilities located in Georgia.
In a statement released on June 18, CleanSpark disclosed that the deal, valued at $25.8 million, is set to be finalized promptly. The company also revealed that the combined processing power of the five facilities is expected to surpass 3.7 exahashes per second.
These mining sites vary in operational capacity, ranging from 8 to 15 megawatts of power, totaling 60 megawatts across all five locations. Representatives from CleanSpark expressed optimism that the company’s total hashrate would exceed 20 exahashes per second by the end of June.
Furthermore, the newly acquired facilities come with interruptible-load designated power purchase agreements (PPAs) to offer load-balancing services to the local electrical grid.
In response to the acquisition news, CEO Zach Bradford of CleanSpark issued a forward-looking statement emphasizing the symbiotic relationship between Bitcoin mining operators and regional energy infrastructure.
The Bitcoin mining industry in the United States has garnered increased attention following former President Trump’s endorsement of domestic Bitcoin production and his private meeting with industry leaders from Riot Platforms, CleanSpark, and TeraWulf.
Trump, in a social media post on June 12, asserted that Bitcoin could serve as America’s “last line of defense” against central bank digital currencies (CBDCs) and could potentially strengthen the nation’s energy dominance.
The President’s remarks have sparked debate within the crypto community, with some questioning his understanding of the industry and accusing him of seeking political favor. However, others like Shapeshift founder Erik Vorhees view Trump’s comments as a positive gesture, regardless of their underlying implications.
In response to Trump’s meeting and endorsement of the broader crypto industry, executives from Marathon Digital Holdings, CleanSpark, and Riot Platforms have launched “The Bitcoin Voter Project,” a non-profit voter education initiative aimed at raising awareness about digital assets and blockchain technology, without endorsing any specific candidates or parties.