New York, Tuesday, September 17, 2024-CleanSpark, a U.S.-based Bitcoin mining company, has announced the acquisition of seven mining facilities in the Knoxville, Tennessee area. The purchase is expected to increase CleanSpark’s total hashrate by 22%, significantly expanding its operations.
The facilities, bought from Exponential Digital for $27.5 million, will contribute 85 megawatts (MW) of energy capacity once fully operational. This additional capacity will enable CleanSpark to generate 5 exahashes per second (EH/s) using Bitmain S21 ASIC miners. The deal is set to close by September 25.
CEO of CleanSpark, Zach Bradford said the company aims to reach 37 EH/s by the end of 2024. The acquisition is part of CleanSpark’s broader strategy to expand its mining capacity across the U.S., with ongoing projects in Georgia, including the recent addition of 50 MW at its Sandersville site.
CleanSpark acquired seven Tennessee mining sites for $27.5M
However, the Tennessee operations have drawn criticism over noise issues and lack of local tax contributions. CleanSpark continues to stress its commitment to demonstrating the benefits of Bitcoin mining for local power grids and communities.
