- The acquisition deal was made for $16.2 million with WAHA technologies.
- The hashing rate of the company is expected to increase by 38% in 2023.
CleanSpark Inc., an American bitcoin mining company has acquired a mining field with a capacity of 86 MW from WAHA technologies. The acquired site is located in Washington, Georgia and the deal has been made between the companies for $16.2 million.
Before this acquisition, CleanSpark gained 3400 new Antminer S19 series mining machines, which cost around $8.9 million. The firm now expects the increase of its hash rate to be a minimum of 38%.
The corporation revised its hashrate forecast for 2022 to 5 exahashes per second (EH/s) and announced that it aims to reach 22.4 EH/s by the end of 2023. The founders of CleanSpark, Matt and Zach, published the news on their Twitter accounts.
We're expanding our footprint in Georgia! ➡️ $CLSK has acquired a plug-in ready, #cleanenergy #bitcoin mining facility from WAHA Technologies. It's scalable to 86 MW or 2.6 EH/s — a 38% increase in #hashrate.— CleanSpark Inc. (@CleanSpark_Inc) August 9, 2022
More info: https://t.co/nGaTLMohk4 pic.twitter.com/OoEcKjYvC5
Past and Present of CleanSpark
CleanSpark ignited its business motto to provide clean energy to homes and businesses in 2014. And seems to have entered the bitcoin mining industry around 2020. Now the major source of income for the firm is bitcoin mining. The stand is different from other mining companies because of its involvement to safeguard the planet and its ideology to provide green and clean energy.
Another unique identity of the company is the selling out of bitcoin(BTC) earned from mining. The company employs the earned cash back for business improvement, this was the reason for them to stay stable in this bear market.
Zach Bradford, CleanSpark’s CEO states,
We look forward to maintaining and growing jobs and infrastructure at our new campus in Washington.