Bitcoin & cryptocurrency news



BTC -0.56%



ETH -1.15%



ADA -1.16%



LTC -0.64%

The Las Vegas-based company, CleanSpark is continuing their investment in Bitcoin Miner facilities.

The ever growing Bitcoin mining company CleanSpark (CLSK) has just spent $25.1 million on a mining facility plus bitcoin mining rigs in the U.S. state of Georgia, continuing to take advantage of the various opportunities that are cropping up in this downturn in the market.

CleanSpark acquired a 36MW facility in the Georgia state from Waha Technologies for $16.2 million.

The mining industry has been experiencing a downturn in recent months and is expected to continue to do so amid a bear market that is squeezing margins and has miners struggling.

The CleanSpark CEO Zach Bradford "The market has been preparing all summer for consolidation, and we are pleased to be on the acquiring side,". CleanSpark have also acquired during the downturn was 1,800 rigs in June and 1,000 operating miners in July.

The facility will be CleanSpark's third in Georgia, the other two being in College Park and Norcross, both near Atlanta. The new site in Washington (pop. 4,000) – in northeastern Georgia about 110 miles from Atlanta – is currently operating 340 petahash/second (PH/s) of computing power, and CleanSpark will be adding machines it already has on hand.

The Washington location also has exclusive rights to another 50 MW of power, which is primarily low-carbon, such as nuclear energy, according to the press release.

The Washington Mayor, Bill deGolian mentioned his is "thrilled" to have CleanSpark as "this partnership will diversify our local industry, create rural technology jobs, expand our electric customer base and invest in our community."