CleanSpark acquires mining facility in Georgia for $33 million

cointelegraph.com:

Crypto mining firm CleanSpark announced an agreement on Friday to acquire Mawson's bitcoin mining facility in Sandersville, Georgia for $33 million. The deal is anticipated to increase CleanSpark's hashrate by 1.4 exahashes per second (EH/s) in the next few months, and to 7.0 EH/s by the end of next year.

As part of the agreement, 6,468 last-generation mining ASICs will be purchased for $9.5 million, or $17 per terahash. "These machines, already operating at the acquired site, will add over 558 petahashes per second (PH/s) of computing power immediately upon closing," the company explains.

For the facility and miners, CleanSpark will pay up to $42.5 million, including up to $11 million in CleanSpark stocks and $4.5 million in earn-out commitments. The site in Georgia can support 24,108 latest-generation miners and the company plans to expand to support 70,000 miners producing over 7.0 EH/s in 2023.

G'day mate. $CLSK has agreed to acquire Australian-based @Mawsoninc's #bitcoin mining facility in Sandersville, GA. This marks our 4th site in the state & it’s expected to support 7.0 EH/s of our #hashrate.More info: https://t.co/C9c20IYIhW#renewables #btc #sustainability pic.twitter.com/mdLmwtC5eK

CleanSpark has accelerated its consolidation in a bear market with high energy costs. On Thursday, the company announced a purchase agreement with Cryptech Solutions for 10,000 Bitmain Antminer S19j Pro units for a total price of R$ 28 million.

In July, CleanSpark disclosed the purchase of over 1,000 Bitcoin miners from Whatsminer M30S at a "substantially discounted price". In June, the mining company also bought 1,800 Antminer S19 XP rigs.

During the bull market, the company focused on building infrastructure before ordering equipment