CleanSpark Announces Acquisition of Five New Bitcoin Mining Facilities in Georgia, Adding 60 MW of Infrastructure

The latest additions to the CleanSpark portfolio represent the forefront of nearly 1 GW of new opportunities currently being analyzed

The acquisitions are expected to increase the company’s operational hashrate to over 20 EH/s by the end of the month using already acquired hardware

The facilities will provide load balancing capabilities to the local electrical municipal cooperatives (EMCs) in which they are located

LAS VEGAS, June 18, 2024 /PRNewswire/ — CleanSpark Inc. CLSK), Bitcoin Miner™ of America, announced today that it has entered into definitive agreements to acquire five turnkey bitcoin mining facilities in rural Georgia for a cash consideration of $25.8 million.

The purchase is expected to be completed immediately, with the operational hashrate of the combined facilities expected to exceed 3.7 exahashes per second (EH/s) following full installation of the state-of-the-art S21 professional miners.

“Our acquisition of these five new mining sites represents a significant milestone in our strategic growth plan and represents the forefront of nearly a gigawatt of new opportunities being analyzed by our teams,” said Zach Bradford, CEO of CleanSpark. “These locations not only improve load balancing capabilities for the local cities we work with, but also ensure we meet our mid-year goal of achieving 20 EH/s operational hashrate. This achievement underscores our commitment to scaling efficiently and sustainably and are excited to bring these facilities into CleanSpark mode of bitcoin mining. We are confident in our continued ability to drive shareholder value and innovation in the bitcoin mining industry.

The five sites range in size from 8 MW to 15 MW, for a total of 60 MW, and include designated interruptible load power purchase agreements (PPAs). Load balancing is a unique benefit that bitcoin miners provide to local electrical grids due to their ability to reduce energy usage based on local demand, especially during rare times of exceptionally high demand on the grid, such as very cold weather and extremely hot.

The definitive agreements include the purchase of data centers and mining equipment at each location, excluding miners, and the Company’s assumption of the underlying real estate leases and energy contracts.

CleanSpark currently owns and operates approximately 300 MW of infrastructure in Georgia. After these newly announced sites come online and after Sandersville is fully energized, the Company will operate more than 400 MW of infrastructure in Georgia. The company also operates infrastructure in Mississippi, places machines in upstate New York and has announced locations in Wyoming.

About CleanSpark
CleanSpark (Nasdaq: CLSK) is America’s Bitcoin Miner™. We own and operate data centers that run primarily on low-carbon energy. Our infrastructure responsibly supports Bitcoin, the world’s most important digital product and an essential tool for financial independence and inclusion. We cultivate trust and transparency between our employees and the communities in which we operate. Visit our website at www.cleanspark.com.

Forward-looking statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In this press release, forward-looking statements include, but may not be limited to, statements regarding expectations, beliefs, plans and intentions of the Company. and strategies. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “aims,” ​​”projects.” “, “contemplates”, “believes”, “estimates”, “anticipates”, “predicts”, “potential” or “continues” or the negative of these terms or other similar expressions. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. analysis statements, including, but not limited to: the timing and closing of transactions; anticipated additions to CleanSpark hashrate and their timing; the risk that the electrical energy available at our facilities will not increase as expected; the success of its digital currency mining activities; the volatile and unpredictable cycles in the emerging and evolving industries in which we operate; increasing difficulty rates for bitcoin mining; Bitcoin halving; new or additional government regulation; the expected delivery dates of new miners; the ability to successfully deploy new miners; reliance on utility rate structures and government incentive programs; dependence on third-party energy suppliers for expansion efforts; expectations of future revenue growth may not be realized; and other risks described in the Company’s prior press releases and its filings with the Securities and Exchange Commission (SEC), including under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2023 and any subsequent filings with the SEC. The forward-looking statements contained herein are made only as of the date of this press release and we undertake no obligation to update or revise any forward-looking statements as a result of any new information, changed circumstances or future events or otherwise, except as required by applicable law. .

Investor Relations Contact
Brittany Moore
702-989-7693
[email protected]

Media contact
Eleni Stylianou
702-989-7694
[email protected]

SOURCE CleanSpark, Inc.

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