Bitcoin Mining Facilities Acquisition in Knoxville, Tennessee
CleanSpark has revealed plans to purchase seven Bitcoin mining facilities in Knoxville, Tennessee, for $27.5 million. This acquisition will bring in over 85 megawatts of available capacity, with the company anticipating the completion of the deals by September 25th, as per a press release.
CleanSpark’s Expansion and Hash Rate Increase
By acquiring these facilities, CleanSpark’s hash rate is set to increase by 5 exahashes per second, marking a 22% surge from its current capacity. With a target of reaching 37 EH/s by the end of 2024, the company has already surpassed 23 EH/s.
Analyst Assessment and Strategic Move
Analysts from H.C. Wainwright commend CleanSpark’s strategic move in acquiring the Tennessee-based Bitcoin mining facilities, recognizing the company’s capability to secure top-tier infrastructure at an advantageous valuation. This acquisition allows CleanSpark to focus on integrating advanced S21 pro miners for optimal output and outlines a community-driven strategy for expanding its operations in Tennessee.
