CleanSpark to acquire two Bitcoin mining campuses for $9.3M

• CleanSpark will complete the $9.3 million all-cash deal for the two turnkey Bitcoin mining facilities this week.
• The facilities in Dalton, Georgia, will host 6,000 Antminer S19 XPs and S19J Pro+ rigs.
• CleanSpark CEO Zach Bradford says the deal puts the miner on track to reach its year-end hashrate target of 16 EH/s

CleanSpark (NASDAQ: CLSK), one of the largest Bitcoin mining firms in the world, has announced the acquisition of two BTC mining campuses in Dalton, Georgia.

The company said in a press release that it had struck a definitive agreement to purchase the two turnkey facilities for $9.3 million, an all-cash deal expected to close later this week.

CleanSpark targets 16 EH/s by end of year

According to the miner, the two campuses are set to host over 6,000 Antminer S19 XPs and S19J Pro+s, and will see the mining giant add just under 1 exahashes per second (EH/s) to its hashrate.

“This acquisition ensures that we have more than enough infrastructure to reach our year-end target of 16 EH/s. It also continues to position us as one of the most power-efficient miners on an energy-per-hashrate basis,” Zach Bradford, CEO of CleanSpark, said in a statement.

CleanSpark’s latest purchase adds to multiple previous buys and acquisitions secured over the past several months. After purchasing 20,000 Antminer S19j Pro+ machines for $43.6 million in February, the company added 45,000 Antminer S19 XP units worth $144.9 million in April. In May, it bought 12,500 Antminer S19 XP rigs.

CLSK traded at $4.86, up 10% on the day on Wednesday. The crypto stock has rallied more than 140% in 2023 and analysts expect it to reach $12.