Summary:
CleanSpark invests $5.775 million in new mining sites in Mississippi.
Two buildings with 20 air-cooled mining pods will be built by December 1.
Expected combined hash rate of 1 exahash per second from new facilities.
Operational capacity increased to 211.5 MW, aiming for 37 EH/s by 2024.
CleanSpark collaborates with utilities for efficient mining and energy use.
A Bitcoin company, CleanSpark, has made significant strides in its mining operations by purchasing two properties in and around Clinton, Mississippi. This strategic move involves a combined purchase price of $5.775 million and is expected to support 16.5 MW of energy.
Construction Plans
CleanSpark announced the construction of two buildings on these properties, with an expected completion date of December 1. The facilities will feature 20 custom-crafted, air-cooled mining pods, enhancing the company's mining capabilities.
Understanding Hash Rate
The site will utilize S21 pro miners, aiming for a combined operating hash rate of approximately 1 exahash per second. Hash rate is a crucial metric that measures the computational power of a cryptocurrency network, indicating how many calculations can be performed per second.
Expanding Capacity
With this acquisition, CleanSpark will elevate its data center portfolio in Mississippi to a total of 60.5 MW. CEO Zach Bradford highlighted that the companyâs operational capacity has surged to 211.5 MW, marking a 38% increase over the last week. This growth supports their ambitious targets of 37 EH/s by the end of 2024 and 50 EH/s by 2025.
Energy Considerations
Bitcoin mining is notoriously energy-intensive. CleanSpark connects directly to the grid, utilizing power lines and transformers like all customers, but on a much larger scale. They collaborate with utility companies to strategically mine at scale, ensuring efficiency and sustainability.
Attractive Business Environment
The Clinton area was chosen for its favorable conditions, including acquisition costs, electricity prices, and proximity to other facilities. CleanSpark's expansion aligns with their ongoing strategy of acquiring sites that meet their operational criteria, similar to their experiences in Georgia, Tennessee, and Wyoming.
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