Bitcoin Miner Cleanspark Completes Acquisition of Sandersville Facility, Firm Hashrate Now 4.7 Exahash – Mining Bitcoin News

On Oct. 11, publicly traded bitcoin miner Cleanspark announced that it had completed the acquisition of Mawson Infrastructure Group’s Georgia-based bitcoin mining facility. Following the acquisition, Cleanspark says it now manages 220 megawatts (MW) of bitcoin miners with a hash rate of over 4.7 exahashes per second (EH/s).

Cleanspark Hashrate Moves Closer To 5 Exahash, Company Receives 6,500 Mining Rigs From Facility Acquisition

Cleanspark (Nasdaq: CLSK) announced Tuesday that the mining company has completed the acquisition of Mawson’s Sandersville, Georgia-based bitcoin mining facility. The acquisition involved 6,500 mining rigs, or about 560 petahash per second (PH/s) of hash power, according to Cleanspark.

According to Cleanspark, the Sandersville site is the publicly traded bitcoin miner’s fourth facility in Georgia. Cleanspark’s other locations are in Washington, College Park and Norcross.

“Mawson has built a world-class facility staffed by an incredible team and we look forward to continuing their work in Sandersville and eventually growing this site to its full potential of 230MW as we work toward our year-end guidance for 2023-22 .4 EH/s,” Cleanspark CEO Zach Bradford said in a statement Tuesday.

Cleanspark’s increased hashrate follows Bitcoin’s overall hashrate, which hit an all-time high (ATH) on October 5, 2022, and the network’s mining difficulty, which hit an ATH on October 10. With the current difficulty, ATH and Bitcoin (BTC) price just above $19K range, the headwinds have put significant pressure on BTC miners trying to maximize their profits.

Cleanspark CEO Zach Bradford has mentioned in the past that the company has managed to weather the crypto winter and also managed to find opportunities during the downturn. In addition to acquiring Mawson’s facility, Cleanspark acquired thousands of bitcoin miners at a discount.

“At the end of last year’s bull market, we strategically focused on building infrastructure, rather than following the industry trend at the time of pre-ordering equipment months in advance,” Bradford said at the time.

Following the announcement and at the time of writing, Nasdaq-traded CLSK shares are up 3.05%. However, six-month stats show that CLSK shares are down 70.08% against the US dollar, and year-to-date CLSK is down 68.77%.

Since entering Georgia, Cleanspark has “invested $275 million in Georgia communities” and provided “over 80 high-quality and skilled jobs, grants and various community sponsorships” in the area, according to Cleanspark.

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What do you think of Cleanspark completing the acquisition of Mawson’s mining data center in Georgia? Let us know what you think about this topic in the comment section below.

Jamie Redman

Jamie Redman is the news director at Bitcoin.com News and a Florida-based financial technology journalist. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about today’s emerging disruptive protocols.

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