Bitcoin Mining Expansion Heats Up: Crypto Miner Secures Underground Bunker, Cleanspark Snags Turnkey Mining Site

Bitcoin mining operations continue to truck on through the crypto winter as a number of miners have revealed expansion plans during the last week. Following the acquisition of 10,000 ASIC Antminers, Cleanspark revealed it acquired a turnkey bitcoin mining facility from Mawson Infrastructure. Reports note that Arsenal Digital Holdings acquired an underground data center outside Houston and some people suspect it’s Westland Oil’s infamous fallout bunker. Additionally, the CEO and founder of Terawulf revealed the company’s Lake Mariner data center is up and running with 1 exahash per second (EH/s) of SHA256 hashrate.

On Friday, it was reported that Arsenal Digital Holdings (OTCMKTS: ADHI) acquired a “50-acre operational data center campus comprised of a four-story office building.” The facility is said to have a “two-story subterranean campus,” with an additional 100,000 square feet of space. The site is already ready to take on 15 megawatts (MW) of capacity, according to a report published by Dan Swinhoe.

Swinhoe also details that the site is likely the former Westland Oil bunker. When the bunker was originally constructed in 1982, it was reportedly “shrouded in secrecy and protected by armed guards.” Westland Oil founder Louis Kung built the place for his family, friends, and employees in order to “protect 350 adults for up to three months.” In 2004 the bunker was converted into a data center, and in 2008 the site’s data center was upgraded.

Swinhoe says the site went on sale in 2021 and the owner was asking $39 million. The reporter further quotes Arsenal’s CEO Ryan Messer who said: “Data centers are among the most highly coveted assets in the digital infrastructure space, and we are proud to make this acquisition a foundational asset for the company as it will be a true flagship location.”

The same day, Cleanspark (Nasdaq: CLSK) announced that the mining company finalized an agreement with Mawson Infrastructure Group to acquire a “turnkey bitcoin mining facility.” “The already operational site in Sandersville, Georgia, includes 80 MW of total capacity supporting 2.4 EH/s of bitcoin mining,” the press announcement detailed on September 9. The news follows Cleanspark’s recent acquisition of 10,000 Bitmain-brand Antminers.

“We are pleased to welcome Mawson’s Sandersville site and its operating teams into the Cleanspark family,” Zachary Bradford, Cleanspark’s chief executive officer said on Friday. “The site is nothing but impressive— well-run by over 20 dedicated professionals who have taken significant pride in the design, development, and maintenance of the site,” the CEO added.

Paul Prager, the CEO of the bitcoin mining firm Terawulf (Nasdaq: WULF) tweeted on September 9 that the company’s Lake Mariner operation is up and running with 1 EH/s and using 30 MW of capacity. Prager explained that the site has 10,000 miners running at the moment and the company plans to “keep coming on at Lake Mariner and Susquehanna.” The Terawulf CEO said that it completed “3 huge milestones.”

“A big thanks for those investors who remain constructive and supportive [through] challenging markets,” Prager concluded. “WULF infrastructure is incomparable and our electricity pricing stable and low. We will bring it home.”

What do you think about the recent expansion announcements from Arsenal, Cleanspark, and Terawulf? Let us know what you think about this subject in the comments section below.