In a tough time where many Bitcoin miners are struggling to stay afloat, one company is bucking the trend and expanding operations. CleanSpark, an American-based Bitcoin miner, announced on January 19th that it had started construction on phase 2 of one of its latest sites in Washington, Georgia.
According to the company’s tweet, the new facility, which is set to hold up to 16,000 miners, is expected to be completed in late spring and will have a projected hashrate of up to 8.7 EH/s.
🚧🚧🚧 Expansion alert: $CLSK has broken ground on phase 2 of our #WashingtonGA #bitcoin mining site! It will hold up to 16,000 miners. With projected completion of the 50 MW in late spring, we expect our #hashrate to reach as high as 8.7 EH/s. More: https://t.co/q03mUT4S2n pic.twitter.com/sTAylY3SKN— CleanSpark Inc. (@CleanSpark_Inc) January 19, 2023
However, other miners declare bankruptcy, and CleanSpark finds unique growth ways. CleanSpark’s expansion decision in a challenging market shows resilience and determination.
Following the purchase of the local mining operation Mawson Infrastructure Group by CleanSpark for $33 million, the company bought its Georgia location in August. The business stated that it would support a fleet of up to 70,000 mining vehicles by 2023.
This new facility will be a significant addition to CleanSpark’s mining operations. In addition, it clearly indicates that the company is committed to staying at the forefront of the bitcoin mining industry. It’s also a sign that CleanSpark’s management is confident in the long-term outlook of the crypto market.
CleanSpark completes a new facility, becoming one of the largest mining operations in Georgia. Set to become a major player in bitcoin mining and an inspiration for others navigating the bear market.
Bitcoin Miner To Expand Operations
In August 2022, this campus was acquired as part of the company’s strategy for growth during a bear market. The new phase, utilizing state-of-the-art Bitcoin mining equipment, is projected to increase its mining capacity by 2.2 EH/s upon completion, per the press release.
CleanSpark is set to expand its bitcoin mining operations by incorporating its fleet’s latest and most efficient models of mining machines, the Antminer S19j Pro and Antminer S19 XP. This move is expected to boost the company’s overall mining capacity by 25-34%.
Chief Executive Officer, Zach Bradford, said:
This second phase more than doubles the size of the existing operation. We are looking forward to expanding our relationship with the Washington City community and to be able to support the construction jobs that will come with this expansion.
Additionally, Scott Garrison, Vice President of Business Development, remarked on the significant contribution of the Washington community. He also acknowledged the on-site team’s role in the successful launch of the initial phase of the site.
He highlighted the use of low-carbon power sources, state-of-the-art technology, and power-efficient and sustainable mining operations. He expresses confidence that the partnership will lead to the timely completion of the next phase. Solidifying the mining operation’s reliability.