CleanSpark targets 400MW Bitcoin mining capacity after acquiring GRIID

November 1, 2024 Coin Telegraph

Bitcoin

CleanSpark CEO Zach Bradford said it was a strategic move for the firm to increase its mining capacity in Tennessee.

Bitcoin mining firm CleanSpark says it is closer to realizing its plan to build 400 megawatts of capacity in the coming years after acquiring American-based infrastructure company GRIID.

CleanSpark CEO Zach Bradford said he was pleased to announce the completion of the firm’s acquisition of GRIID Infrastructure following shareholder approval, which is a “strategic move that allows us to grow our Bitcoin mining capacity in the state of Tennessee,” in an Oct. 31 announcement.

He added that the acquisition will allow CleanSpark to build over 400 megawatts of capacity in the coming years. “Moreover, this adds significant geographic and power supply diversity through expansion in the Tennessee Valley Authority service territory, providing us with additional operational flexibility,” he said.

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Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Bitcoin mining stocks rocket 24% on macro climate, AI play: Analyst

October 29, 2024 Coin Telegraph

Bitcoin Network Difficulty

Deficit spending and lower interest rates have boosted global liquidity higher, benefiting Bitcoin and related markets, Blockware’s Mitchell Askew said.

Share prices of Bitcoin miners soared as high as 24.4% on Oct. 28 as Bitcoin rallied over $70,000 — with an analyst pointing to an increasingly favorable macroeconomic climate and miners’ continued diversification into AI.

“Deficit spending and lower interest rates are driving global liquidity higher [while] investors are fearful of high inflation over the long term, as evidenced by poor performance from treasury bonds since the Sept[ember] rate cut,” Mitchell Askew, head analyst at Bitcoin (BTC) mining firm Blockware told Cointelegraph.

As such, investors are turning to the Bitcoin markets where Bitcoin mining stocks are trading at a “beta.”

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

CleanSpark reports 187% hashrate growth

October 4, 2024 Coin Telegraph

Bitcoin mining

CleanSpark’s hashrate increased from 9.6 EH/s to 27.6 EH/s over the past year, driven largely by strategic acquisitions that boosted its mining capacity.

Bitcoin miner CleanSpark has posted a 187% increase in its hashrate over the past 12 months, according to its unaudited fiscal year report released on Oct. 4.

CleanSpark’s hashrate rose from 9.6 EH/s in September 2023 to 27.6 EH/s in September 2024, with 5 EH/s added over the past month alone. In a statement, CEO Zach Bradford attributed the performance to strategic acquisitions:

CleanSpark currently operates multiple data centers across the United States, expanding its capacity significantly in recent years. The company has acquired five turnkey mining facilities in Georgia and three more in Mississippi.

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

CleanSpark still to restore 165MW in aftermath of Hurricane Helene

October 1, 2024 Coin Telegraph

Alabama

The massive category 4 hurricane has killed at least 137 people, and many more are still missing — while millions of homes and businesses remain without power.

United States Bitcoin mining firm CleanSpark says it is still working to turn the power back on across all its facilities in the aftermath of Hurricane Helene — which saw devastating flooding, power outages and widespread damage across several US states.

The Bitcoin miner’s hashrate briefly fell from 28 exahashes per second to 10.5 EH/s when it was forced to shut down 365 MW at the southeast Georgia site shortly after the hurricane started on Sept. 27.

However, CleanSpark has managed to turn 200 MW back online since then, increasing its current operating hash rate to 22 EH/s, CleanSpark’s CEO Zach Bradford noted in a Sept. 30 statement.

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Crypto Biz: Crypto fever hits wealth managers

September 14, 2024 Coin Telegraph

Bitfarms

This week’s Crypto Biz explores the launch of new crypto ETFs, CleanSpark’s acquisition of new mining sites, another round of conflict between Bitfarms and Riot, and more.

Wealth advisers are adopting Bitcoin exchange-traded funds at an unprecedented rate, faster than any previous ETF in history, according to Matt Hougan, chief investment officer at Bitwise.

The surge is primarily driven by financial advisers such as registered investment advisers and large firms like Morgan Stanley. BlackRock’s iShares Bitcoin Trust ETF alone has attracted $1.45 billion in flows from wealth managers.

Asset management firms are also looking to offer diversified exposure to blockchain technology. Over the past few days, State Street and Galaxy launched three new funds to provide alternative strategies for institutional investors.

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Cleanspark Expands Bitcoin Mining Operations by Acquiring 7 Tennessee Facilities

September 12, 2024 Bitcoin.com

Acquisition

Cleanspark Inc. has unveiled plans to acquire seven bitcoin mining facilities in Knoxville, Tennessee. The $27.5 million deal is expected to boost the company’s current mining capacity by 5 exahash per second (EH/s) by 2024, representing a 22% increase in its operational hashrate. Cleanspark to Acquire 7 Bitcoin Mining Facilities in $27.5M Deal, Boosting Hashrate […]

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Cleanspark Secures 26,000 Bitmain Immersion Miners in $167.7M Deal

August 13, 2024 Bitcoin.com

Cleanspark Secures 26,000 Bitmain Immersion Miners in 7.7M Deal

ASIC miners

Cleanspark, a publicly-listed bitcoin mining company, recently shared in its 10-Q report that it has acquired 26,000 units of Bitmain’s S21 XP immersion-cooled bitcoin mining machines. These types of cutting-edge immersion miners, known for their quieter operation and impressive hashrate performance, are gaining traction in the industry. Cleanspark to Acquire Next-Gen Immersion-Cooled Mining Rigs From […]

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Bitcoin Miner Cleanspark Acquires Wyoming Mining Site

August 2, 2024 Bitcoin.com

Bitcoin mining

Cleanspark Inc. has completed the acquisition of its first bitcoin (BTC) mining site in Wyoming and secured 75 megawatts (MW) of power contracts. The Las Vegas-based company plans to add over 2 exahash per second (EH/s) to its mining capacity through a 30 MW immersion-cooled data center expected to be operational by the end of […]

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

CleanSpark mined 445 Bitcoin in June, surpasses hashrate target

July 3, 2024 Coin Telegraph

CleanSpark CEO Zach Bradford said his firm has set its sights on increasing future hashrate instead of branching out to alternative revenue streams.

Bitcoin miner CleanSpark increased its Bitcoin production by 6.7% in June and surpassed its mid-year hashrate target of 20 exahashes per second (EH/s).

The United States-based miner only sold 8 of the 445 Bitcoin (BTC) it mined in June, bringing its total Bitcoin holdings to 6,591 BTC as of June 30, worth more than $4 billion at current prices.

In a July 2 statement, CleanSpark CEO Zach Bradford said that the firm’s hashrate now stands at 20.4 EH/s — more than double what it was in December 2023.

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Cleanspark Acquires Griid in $155 Million All-Stock Deal to Boost BTC Mining Operations

June 27, 2024 Bitcoin.com

Cleanspark Acquires Griid in 5 Million All-Stock Deal to Boost BTC Mining Operations

Acquisition

In a significant expansion move, Cleanspark, a leading U.S. bitcoin mining company, has announced the acquisition of its rival firm Griid for $155 million. This strategic all-stock transaction aims to enhance Cleanspark’s mining capacity, particularly in the aftermath of Bitcoin’s fourth halving event which has increased the pressure on mining profitability. Cleanspark Acquires Griid in […]

Cleanspark

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