Cleanspark Expands Bitcoin Mining Operations
Cleanspark, a publicly traded bitcoin mining company, has announced plans to expand its operational presence in Mississippi. The company has purchased three fully operational bitcoin mining sites in the area for $19.8 million in cash. These Mississippi locations will contribute approximately 2.4 exahash per second (EH/s) to Cleanspark’s total mining capabilities. In addition, Cleanspark has also acquired a facility in Dalton, Georgia, which is currently under construction. Once activated, this site is expected to add another 0.8 EH/s to the company’s operations. Cleanspark aims to achieve a combined capacity of 2.4 EH/s in Dalton once these facilities are fully operational.
CEO Zach Bradford’s Enthusiasm
Zach Bradford, CEO of Cleanspark, expressed excitement about the expansion into Mississippi and the acquisition in Dalton. He stated that the new locations will strengthen their ties in these communities and improve operating efficiencies. Bradford also mentioned that the company expects to nearly triple its hashrate in Dalton with minimal increases to overhead operating costs.
Strategic Acquisition and Stock Performance
Cleanspark’s expansion comes after its agreement with Bitmain to purchase 160,000 S21 Antminer-brand bitcoin miners. This positions the company competitively among other mining corporations. Following the announcement, Cleanspark’s CLSK shares saw a 7.67% rise in the past day and a 2.33% increase in the past five days. However, the shares have experienced a 21.4% decline over the last 30 days.
Hot Take: Cleanspark’s Ambitious Growth Plans
Cleanspark’s recent acquisitions and expansions demonstrate its ambitious growth plans in the bitcoin mining industry. With the addition of fully operational sites in Mississippi and a new facility in Dalton, the company expects to significantly increase its mining capabilities. This strategic move, coupled with the purchase of 160,000 bitcoin miners, positions Cleanspark among the leading mining companies in the market. While its stock performance has fluctuated, the company’s expansion efforts signal confidence in the future of bitcoin mining and its potential for profitability.
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