Luisa Crawford
Aug 02, 2024 01:08
CleanSpark has executed 75 MW of power contracts and acquired a Bitcoin mining site in Wyoming, expanding its operations significantly.
CleanSpark Inc. (Nasdaq: CLSK), a prominent player in the Bitcoin mining industry, has announced the successful execution of 75 MW of power contracts and the acquisition of its first Bitcoin mining site in Wyoming, according to investors.cleanspark.com.
Strategic Expansion in Wyoming
The newly acquired site, located in Cheyenne, boasts a power capacity of 30 MW and is expected to contribute over 2 exahashes per second (EH/s) to CleanSpark’s hashrate once operational. This site will operate as a fully immersion-cooled facility, marking the second such establishment in CleanSpark’s expanding portfolio. Groundbreaking is set to commence immediately, with an operational target set for the end of 2024.
Future Growth Plans
CleanSpark is also working on securing additional power to further enhance the operational capacity of the Cheyenne site. The company is in the process of closing the underlying real estate for a second site in Wyoming, expected to add an additional 45 MW and 3 EH/s to its hashrate. This expansion aligns with CleanSpark’s strategic growth plans, as the company aims to broaden its footprint across Wyoming.
Broader Impact and Industry Support
This acquisition is part of CleanSpark’s broader strategy to expand its operations in supportive environments. Wyoming has recently shown significant support for the cryptocurrency industry, with initiatives such as the University of Wyoming’s Bitcoin Research Institute and Senator Lummis’s introduction of the Boosting Innovation, Technology and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act.
“We are thrilled to expand in a state so publicly supportive of our industry,” said CleanSpark CEO Zach Bradford. “Working together with local, state, and national leaders, CleanSpark plans to grow its footprint beyond Cheyenne, throughout the beautiful state of Wyoming.”
About CleanSpark
CleanSpark (Nasdaq: CLSK) is recognized as America’s Bitcoin Miner. The company owns and operates multiple data centers that primarily use low-carbon power. Its infrastructure supports Bitcoin, a crucial digital commodity for financial independence and inclusion. CleanSpark is committed to transparency and trust among its employees and the communities where it operates. More information can be found on their official website.
Forward-Looking Statements
This announcement contains forward-looking statements, including expectations regarding the deployment of new mining equipment, expansion plans, and future operational capacity. These statements are subject to various risks and uncertainties that could cause actual results to differ materially from those projected. Factors include the availability of electrical power, successful deployment of new miners, regulatory changes, and market conditions. CleanSpark assumes no obligation to update these statements, except as required by law.
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