CleanSpark's Mississippi Expansion Fuels Ambition to Become Mining Powerhouse

CleanSpark's Strategic Expansion in Mississippi

The US-based mining giant, CleanSpark, has announced a significant expansion with the acquisition of two new Bitcoin mines located near Clinton, Mississippi. This strategic move comes at a cost of $5.77 million and includes both the facilities and the land they occupy. The newly acquired sites will be equipped with S21-Pro miners capable of delivering a combined hash rate of approximately one exahash per second (EH/s). Currently, CleanSpark boasts an impressive hash rate exceeding 26 EH/s, which is projected to increase to 37 EH/s by year-end.

This development highlights CleanSpark’s commitment to enhancing shareholder value through rapid growth. CEO Zach Bradford expressed ambitions for further scaling up operations with plans to reach a hash rate as high as 50 EH/s by 2025. As reported by BTC-ECHO | Bitcoin & Blockchain since 2014, this makes CleanSpark the fourth-largest mining company globally, valued at $2.31 billion.

The recent purchase follows closely on the heels of another major investment where CleanSpark acquired seven additional Bitcoin mines in Tennessee for $27.5 million just last week. These expansions are occurring amidst financial pressures faced industry-wide due to reduced miner revenues post-Bitcoin halving events—down from over $60 million daily pre-halving to about $26 million currently.

Despite these challenges, publicly listed US miners like CleanSpark continue demonstrating resilience and strength within their sectoral landscape; Bitfarms also expands its footprint across America while Marathon adopts what it terms a “Full-Hodl Strategy.” For those interested in delving deeper into insights surrounding cryptocurrency mining trends or seeking expert opinions can tune into BTC-ECHO Experts-Podcast featuring Frederik Dürr from Cryptohall24.

Sources:

• Mining-Expansion: CleanSpark kauft zwei weitere Bitcoin-Minen