CleanSpark Strengthens Grip on Bitcoin Mining Industry with Acquisition of Tennessee Sites
CryptoNewsTerminal Staff11 Sep, 2024
CleanSpark Strengthens Grip on Bitcoin Mining Industry with Acquisition of Tennessee Sites
CleanSpark, a publicly traded bitcoin miner, has solidified its position in the industry with the acquisition of seven mining sites in Tennessee. The company paid $27.5 million, approximately $324k per megawatt, for these sites. These sites, currently housing S21 Pro mining machines, are expected to contribute an additional 5 EH/s to CleanSpark's operational hashrate. This represents a significant increase of over 22% in the company's total hashrate. CleanSpark's strategic expansion into Tennessee further cements its status as a leading player in the bitcoin mining sector. These new sites will enhance the company's ability to capitalize on the growing demand for digital assets and generate substantial revenue.
