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The most recent additions to CleanSpark’s portfolio are at the forefront of approximately 1 GW of new opportunities being explored lately.
The acquisitions are expected to increase the company’s operational hashrate to more than 20 EH/s through the end of the month, the hardware already purchased.
The facility will supply load balancing functions to the local municipal electric cooperatives (MECs) in which they are located.
LAS VEGAS, June 18, 2024 /PRNewswire/ — CleanSpark Inc. (Nasdaq: CLSK), U. S. -based Bitcoin Miner™The U. S. Department of Homeland Security announced that it has entered into definitive agreements to obtain five turnkey Bitcoin mining services in rural Georgia for one money. payment of $25. 8 million.
The acquisition is expected to close immediately, with the combined facility’s consistent nationwide hashrate expected to exceed 3. 7 exahashes per instant (EH/s) after the full installation of the state-of-the-art S21 miners.
“Our acquisition of those five new mine sites marks a vital milestone in our strategic expansion plan and represents the forefront of approximately one gigawatt of new opportunities analyzed through our teams,” said Zach Bradford, CEO of CleanSpark. “These sites not only load balance the local cities we work with, but also make sure that our mid-year goal of achieving an operational hash rate of 20 EH/s is achieved. This achievement underscores our commitment to scaling successfully and sustainably and we are excited to integrate those services into the CleanSpark approach to Bitcoin mining. ” We are confident in our continued ability to generate shareholder prices and innovate in the Bitcoin mining industry.
The five sites range in length from 8 MW to 15 MW, for a total of 60 MW, and come with forced acquisition agreements (PPAs) designated for disruptive loads. Load balancing is an exclusive merit that Bitcoin miners offer to local force networks due to its ability to reduce force consumption based on local demand, especially in rare periods of unusually high demand on the grid, such as very cold and incredibly hot weather.
The definitive agreements involve the acquisition of knowledge centers and mining equipment at each site, miners and the assumption of the underlying real estate leases and contracts in force through the Company.
CleanSpark currently owns and operates approximately three hundred MW of infrastructure in Georgia. Following the commissioning of these recently announced sites and once Sandersville is fully energized, the company will operate more than 400 MW of infrastructure in Georgia. The company also operates infrastructure in Mississippi, shares machines in upstate New York and has advertised locations in Wyoming.
About CleanSparkCleanSpark (Nasdaq: CLSK) is the American Bitcoin Miner™. We own and operate knowledge centers that run primarily on low-carbon energy. Our infrastructure responsibly supports Bitcoin, the world’s most important virtual commodity and a must-have tool for monetary operations. independence and inclusion. We embrace acceptance and transparency between our workers and the communities in which we work. Visit our online page at www. cleanspark. com.
Forward-Looking Statements This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In this press release, forward-looking statements include, but are not limited to, statements relating to expectations, beliefs, plans, arrangements. intentions and strategies. In some cases, you can identify forward-looking statements by terms such as “possibly”, “will”, “should”, “expect”, “plan”, “anticipate”, “could”, “intend”. “targets”, “projects”, “believes”, “believes”, “estimates”, “plans”, “predicts”, “potential” or “continues” or the negative of those terms or other similar expressions. Forward-looking statements are subject to a variety of known and unknown dangers, uncertainties and other vital points that could possibly cause our actual results, functionality or achievements to be materially different from any long-term results, functionality or achievements expressed or implied through forward-looking statements, adding. , but not limited to: the timing and completion of CleanSpark’s planned hashrate additions and the timing of available electrical power at our facilities not accumulating as expected; the good fortune of your virtual currency mining activities; volatile and unpredictable cycles; of the emerging and evolving industries in which we operate; increase difficulty rates for Bitcoin mining; bitcoin halving; new or additional government regulations; expected delivery dates for new miners; the ability to hopefully deploy new miners; reliance on application fee structures and government incentive programs; dependence on external electrical energy suppliers for expansion efforts; expectations of long-term earnings expansion may not materialize; and other dangers described in the Company’s prior press releases and its filings with the Securities and Exchange Commission (SEC), aggregated under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2023. and any upcoming filings with the SEC. The forward-looking statements contained in this press release are made only as of the date of this press release, and we do not undertake any legal responsibility to update or revise any forward-looking statements as a result of any new information, replace in cases in the long term. or occasions or otherwise, as required by applicable law.
Investor Relations ContactBrittany Moore702-989-7693ir@cleanspark. com
Media ContactEleni Stylianou702-989-7694pr@cleanspark. com
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SOURCE CleanSpark, Inc.