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CleanSpark Purchased Mining Equipment For $33 Million in Georgia  –

CleanSpark Purchased Mining Equipment For $33 Million in Georgia  –

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  • CleanSpark boosted its Hashrate by buying Crypto Mining machines.
  • CleanSpark will buy 6,468 last-generation mining ASICs for approximately $9.5 million.

On Friday, September 9th, CleanSpark, a cryptomining company, revealed that it has acquired Mawson’s Bitcoin mining facility in Sandersville, Georgia for $33 million.

The motto of sharing and acquiring machines will ultimately increase the hash rate by 1.4 exahashes per second (EH/s) in the coming months and around 7.0 EH/s until the end of the second quarter of 2022.

Under the agreement, CleanSpark will purchase 6,468 last-generation mining ASICs for approximately $9.5 million, or $17 per terahash. And the company went on to explain that “These machines, operating at the already acquired site, will add more than 558 petahash per second (PH/s) of computing power immediately after closing.”

CleanSpark will pay up to $42.5 million, including up to $11 million in CleanSpark stock and $4.5 million in profit commitments. The Georgia site can support up to 24,108 latest generation miners, and the company plans to expand its support to 70,000 miners with more than 7.0 EH/s in 2023.

CleanSpark continuously buys machines needed in the mining process. On Thursday, September 8, CleanSea entered into another agreement with Cryptech Solution to purchase 10,000 Bitmain Antminer S19j Pro units worth approximately $28 million.

In July at CleanSea, over 1,000 Bitcoin miners were purchased from Whatsminers M30S at a “special discounted price”. During June, the crypto mining company purchased 1,800 Antminer S19 XP devices.

Zach Bradford, CEO of CleanSpark, said, “This strategy enabled us to purchase landed equipment at significantly lower prices, reducing the time between capital deployment and compaction, which accelerated return on investment.”

CleanSpark CEO Matthew Schultz emphasized in an official press release that “Georgia has one of the most favorable operating environments in the country.” Further: “We have strategically grown our operations in Georgia due to the state’s strong business ethics, competitive power and abundant carbon dioxide-free energy, especially nuclear power.

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