CleanSpark Breaks Ground On 50 Megawatt Bitcoin Mining Expansion
The mining firm will nearly double its existing infrastructure, adding up to 50 Megawatts to the 36 Megawatts already in use.Bitcoin mining firm CleanSpark has announced the start of construction on a site in Washington,...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
The mining firm will nearly double its existing infrastructure, adding up to 50 Megawatts to the 36 Megawatts already in use.
Bitcoin mining firm CleanSpark has announced the start of construction on a site in Washington, Georgia, set to house 16,000 miners, which could bring the company’s hash rate total to as high as 8.7 EH/s.
The site, which CleanSpark announced the acquisition of in 2022, would contribute to an additional 2.2 EH/s of hash rate for the company. The expansion is estimated to cost nearly $16 million according to the press release sent to Bitcoin Magazine.
“The mining machine fleet at the new phase will consist of Antminer S19j Pro and Antminer S19 XP models, the newest and most power-efficient models of bitcoin mining machines available today,” states the release.
“When we purchased the Washington site in August, we were confident about our ability to quickly expand, adding this 50MW to the existing 36MW of infrastructure,” Zach Bradford, CleanSpark’s CEO commented. “This second phase more than doubles the size of the existing operation. We are looking forward to expanding our relationship with the Washington City community and to be able to support the construction jobs that will come with this expansion.”
Scott Garrison, vice president of business development at the firm, highlighted how the site “uses mainly low-carbon sources of power, employs newest generation tech, and is among the most power-efficient and sustainable bitcoin mining operations.”
Despite the recent wider downturn in the mining industry, CleanSpark has seen a remarkable expansion from just 2.1 EH/s in January 2022, to 6.2 EH/s in December 2022. This expansion, alongside another site buildout in Sandersville, Georgia, is set to continue that rapid growth in the coming year.
Why this matters
This mining story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on Bitcoin MagazineRelated market context
Bitcoin miners are no longer pure crypto proxies and are morphing into high-performance computing hubs
Bitcoin gained 21.5% from the Aug. 17 close through Aug. 21, yet six of seven large US-listed miners finished the same trading str...
Wall Street’s favorite Bitcoin broker just walked away from institutional trading to chase gigawatts of power
BitGo's NYDIG deal transfers its institutional trading business to the digital-asset custody and trading infrastructure provider,...
Veteran Bitcoin developer Luke Dashjr exits OCEAN pool – Will hash power follow him to new pool?
OCEAN Mining has completed a buyout of co-founder and 16-year veteran Bitcoin Core developer Luke Dashjr, ending his ownership and...
How $739B in new US debt could absorb crypto’s liquidity before buybacks even reach Bitcoin
The US Treasury expects to borrow $739 billion from July through September while paying investors to hand back some of its older b...
Debasement Trade Is Here Thanks to Government Debt — And Bitcoin Will Benefit: Grayscale
Bitcoin Magazine Debasement Trade Is Here Thanks to Government Debt — And Bitcoin Will Benefit: Grayscale The debasement trade is...
The SEC is reviewing automatic filing pathways after exotic crypto and event-linked ETF proposals flooded the market
Wall Street now wants a ticker to hold almost any financial idea an investor might type into a brokerage search bar, from Bitcoin...