CleanSpark, a Nasdaq-listed Bitcoin miner, is expanding its operations with new facilities in Wyoming and Tennessee. This expansion includes acquiring GRIID Infrastructure and securing significant power contracts, positioning CleanSpark as a major player in the crypto mining industry.
Points
- CleanSpark is expanding with new facilities in Wyoming and Tennessee.
- The company has secured 75 megawatts of power contracts in Wyoming.
- CleanSpark plans to acquire GRIID Infrastructure, adding more capacity.
- The expansion will increase CleanSpark’s hash rate significantly.
- CleanSpark has displaced Riot Platforms as the second-largest US crypto miner by market cap.
Nasdaq-listed Bitcoin miner CleanSpark is continuing its aggressive expansion strategy with new facilities in Cheyenne, Wyoming, which are expected to be operational by yearend. The company is also in the process of acquiring a second Wyoming site and expanding into Tennessee through the acquisition of GRIID Infrastructure.
CleanSpark has executed 75 megawatts （MW） of power contracts in Wyoming, with 30 MW dedicated to running S21 immersion XP application-specific integrated circuits （ASICs） at the planned facility. This will increase the company’s hash rate by 2 EH/s. CleanSpark is also seeking additional power sources for the facility.
The remaining 45 MW of contracted power will be allocated to the second Wyoming site, which is expected to add 3 EH/s to the hash rate once operational. CleanSpark is progressing on securing the underlying real estate for this site.
Cointelegraph
CleanSpark’s expansion is not limited to Wyoming. The company will add more than 400 MW of capacity over two years in Tennessee with the acquisition of GRIID Infrastructure in a deal worth $155 million. This acquisition includes a co-location facility in New York.
CleanSpark’s CEO Zach Bradford stated, “
“On the heels of the University of Wyoming announcing the launch of its Bitcoin Research Institute and Senator Lummis introducing the BITCOIN Act, we are thrilled to expand in a state so publicly supportive of our industry.”
CleanSpark’s expansion strategy has positioned it as a significant player in the crypto mining industry. The company has rapidly increased its operations this year, surpassing Riot Platforms as the second-largest crypto miner in the United States by market cap.
In addition to the Wyoming and Tennessee expansions, CleanSpark added a facility in Georgia in February, bringing its total there to 12. The company also moved into Mississippi with three turnkey operations and added another five facilities in Georgia in June. In June 2024 alone, CleanSpark mined 445 Bitcoin （BTC）, contributing to a yearly total of 3,614 BTC.
CleanSpark’s aggressive expansion and strategic acquisitions reflect its commitment to growing its mining capacity and solidifying its position in the competitive crypto mining market. The company’s focus on securing significant power contracts and expanding its geographic footprint highlights its growth-oriented approach.
解説
- CleanSpark’s continued expansion highlights its strategic focus on increasing mining capacity and geographic diversification.
- Securing significant power contracts in Wyoming and acquiring GRIID Infrastructure are key moves to enhance the company’s hash rate and operational capacity.
- CleanSpark’s rapid growth and displacement of Riot Platforms as the second-largest US crypto miner by market cap underscore its competitive edge in the industry.
- The company’s expansion into supportive states like Wyoming reflects the importance of favorable regulatory environments for crypto mining operations.
- CleanSpark’s strategic acquisitions and facility additions position it for long-term growth and stability in the volatile crypto mining sector.