CleanSpark acquired five turnkey bitcoin mining facilities in rural Georgia for a cash payment of $25.8 million. The definitive agreements include the purchase of mining data centers and equipment at each site, excluding the miners, and the assumption of the underlying real property leases and power agreements by the Company.

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

CleanSpark currently owns and operates about 300 MW of infrastructure in Georgia. The Company also operates infrastructure in Mississippi, co-locates machines in upstate New York, and has announced locations in Wyoming.