Bitcoin Miner CleanSpark To Acquire 5 Mining Sites Despite Ongoing Capitulation

Bitcoin mining company CleanSpark has recently revealed its plans to acquire additional mining infrastructure in rural Georgia, U.S. According to a recent report, the BTC mining giant eyes acquiring five turnkey sites in Georgia for mining operations.

Notably, CleanSpark’s announcement of its acquisition plans came at a crucial time in the market. The company’s proactive move emerged amidst a significant dip in Bitcoin price and ongoing miner capitulation.

CleanSpark Cracks Deals For $26 Mln

As per an official press release dated June 18, the five turnkey sites will be acquired by CleanSpark via definitive agreements for a whopping $25.8 million. Simultaneously, the operating hashrate of the combined facilities is likely to exceed 3.7 exahashes per second (EH/s) upon completion of the S21 pro miner installation.

Meanwhile, the CEO of CleanSpark, Zach Bradford, stated, “Our acquisition of these five new mining sites marks a significant milestone in our strategic growth plan and represents the leading edge of nearly one gigawatt of new opportunities being analyzed by our teams.  These sites not only enhance the load balancing capabilities for the local cities we work with but also lock in the achievement of our mid-year target of 20 EH/s of operating hashrate.”

This decision to streamline BTC mining operations amid a miner capitulation has piqued significant attention across the globe. The five sites range from 8 MW to 15 MW, for a total of 60 MW.

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More About Bitcoin Miner CleanSpark

Intriguingly, CleanSpark’s decision to enhance operational endeavors amid ongoing Bitcoin miner capitulation glimmers hope for the mining industry ahead. Meanwhile, CleanSpark (Nasdaq: CLSK) saw a 0.51% uptick at press time to $19.34.

It’s also worth mentioning that the BTC price saw a significant slip to the $64K mark today, trading at $64,354.69 while writing. A recent report by CoinGape Media spotlighted how miners recently offloaded substantial amounts of BTC, falling in line with the capitulation.

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