Cryptocurrencies

CleanSpark, an American Bitcoin mining company focused on energy consumption, made the announcement.

CleanSpark, an American bitcoin mining company focused on clean energy, announced a definitive agreement to acquire five mining facilities in Georgia.

In a June 18 announcement, CleanSpark explained that the $25.8 million deal “is expected to close immediately” and revealed that the five facilities are expected to exceed a combined processing capacity of 3.7 exahashes per second.

The operational capacity of mining sites varies, from 8 to 15 megawatts of power, for a total of 60 megawatts depending on the installations. CleanSpark spokespeople expressed confidence that the company’s overall hash rate would reach more than 20 exahashes per second by the end of June.

Additionally, the newly acquired utilities include dedicated intermittent load power purchase agreements (PPAs) to provide load balancing services to the local power grid.

Following the acquisition announcement, Zach Bradford, CEO of CleanSpark, released a forward-looking statement highlighting the beneficial relationship between Bitcoin mining operators and regional energy infrastructure.

“These sites not only improve the load balancing capabilities of the local cities we work with, but also ensure we achieve our mid-year goal of achieving an operational hash rate of 20 EH/s. »

about: Bitcoin miners up 10% after Trump pledges support for US miners.

US Mining Companies and the 2024 Presidential Election

The US Bitcoin mining industry received increased attention after former President Trump said Bitcoin should be “made in the USA” and held a special meeting with leaders of the industry of Riot Platforms, CleanSpark and TeraWulf.

Photo of Riot Platforms CEO Jason Liss and former President Trump. Source: Jason Lee.

In a social media post dated June 12, the 2024 presidential candidate argued that Bitcoin could be America’s “last line of defense” against central bank digital currency (CBDC), before suggesting that Bitcoin could make the US energy sector dominant.

Trump’s comments sparked a firestorm within the cryptocurrency community, with some claiming he has no idea about the cryptocurrency industry and is just voting. However, others, like Shapeshift founder Erik Voorhees, say the details behind Trump’s comments are far less important than the welcoming gesture they represent.

The mining industry responds

Immediately following Trump’s meeting with mining industry stakeholders and his stated support for the broader cryptocurrency industry, executives from Marathon Digital Holdings, CleanSpark and Riot Platforms launched the “Bitcoin Voter Project.”

The 501(c)(4) nonprofit organization is a nonpartisan voter education initiative aimed at increasing awareness and disseminating knowledge about the emerging digital asset market and blockchain industry, rather than supporting candidates or parties.

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