CleanSpark Kickoff 50MW Bitcoin Mining Expansion

Bitcoin mining company – CleanSpark – has begun construction of the second phase at a site in Washington, Georgia, which will accommodate 16,000 miners. This move is expected to increase the hash rate to 8.7 EH/s, thus contributing an additional 2.2 EH/s.

In the new phase, it will include the fleet of mining machines – Antminer S19j Pro and Antminer S19 XP – which are the latest and most energy-efficient models of these machines currently available.

Bitcoin mining expansion

Based on the final number of each model in the mix, the total computing power that will be added to CleanSpark’s bitcoin mining capacity will range from a 25% to 34% increase from its current hash rate of 6.5 EH/s. CleanSpark CEO Zack Bradford said the company is fairly confident of rapid expansion after purchasing the site and adding 50 megawatts to its existing 36 megawatts of infrastructure.

In a statement, the director said:

“This second phase more than doubles the volume of existing business. We look forward to expanding our relationship with the City of Washington community and being able to support the construction jobs that come with this expansion.”

Construction of the second phase is expected to be completed in the spring.

CleanSpark focus on low carbon energy sources

The announcement comes amid a faltering market as several mining companies have filed for bankruptcy, while more casualties are expected this year. CleanSpark, for example, claims to have increased its hash rate from 2.1 EH/si in January 2022 to 6.2 EH/si in December 2022, despite the slowdown. It did this by selling a large portion of the mined bitcoins to reinvest in growth following an “asset management strategy.”

CleanSpark also claims to mine primarily using renewable or low-carbon energy sources. In fact, the company’s first phase of the site mainly uses low-carbon energy sources. As noted by Scott Garrison, Vice President of Business Development, the Georgia site also uses the latest generation technology and is among the most energy efficient and sustainable bitcoin mines.

Meanwhile, Georgia has attracted many miners in recent years due to its relatively low energy prices. They also save a lot of nuclear and solar energy, which allows companies to position themselves as “sustainable and environmentally oriented”.

Post CleanSpark Kicksoff 50MW Bitcoin Mining Expansion appeared first on CryptoPotato.

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