CleanSpark Buys 2 Bitcoin Mining Facilities In Georgia For IDR 138 Billion

Bitcoin mining machine. (Photo; Doc. TheCoinRise)

JAKARTA - CleanSpark, a clean energy technology company, announced that it has signed an official agreement to purchase two Bitcoin mining campuses in Dalton, Georgia. In an agreement worth $9.3 million in cash, these facilities are expected to contribute less than 1 exahash per second (EH/s) to the CleanSpark hashrate.

Zach Bradford, CEO of CleanSpark, stated that the purchase of these two additional locations is proof of an increasingly close relationship with rural communities in Georgia and the regional expertise they have developed there.

CleanSpark hopes their efforts can generate economic growth for suburban and rural areas where their operations are located. In an emailed release, it was stated that this mining facility would accommodate more than 6,000 units of Bitmain Antminer S19 XP and S19J Pro+.

CleanSpark has a target to reach a hashrate of 16 EH/s by the end of 2023, and this acquisition will ensure that they have sufficient infrastructure to achieve that goal.

CleanSpark mines Bitcoin using low-carbon energy sources. The company also sells part of the Bitcoin generated to re-invest in growth. CleanSpark managed to surpass its year-end forecast in 2022 by increasing its hashrate and reaching a high level of hashrate realization in the midst of a difficult crypto market.

With the price of Bitcoin approaching the level of US$30,000 (equivalent to Rp447 million) per coin, Bitcoin mining is becoming increasingly attractive to investors. However, the challenges faced are the upcoming halling, where blockchain rewards will be reduced while operating costs remain the same. CleanSpark, along with other industry players, continues to strive to address these challenges and maintain growth in the Bitcoin mining industry.