US Bitcoin mining company CleanSpark acquires seven mining sites in Tennessee; MARA's Bitcoin h
US listed Bitcoin mining company CleanSpark announced on Wednesday that it will acquire seven Bitcoin mining facilities and related land located in the Knoxville area of Tennessee for a total cash payment of $27.5 million. The company expects to complete transactions for each mining site before September 25th.
According to the press release, once the latest generation S21 Pro mining machine is installed, the total operating computing power of these mining facilities is expected to reach 5 EH/s per second, which will increase CleanSpark's current computing power by over 22%. The mining machines required for this expansion will be installed immediately after the completion of transactions at each site, with a single mine scale ranging from 10 MW to 20 MW.
CleanSpark CEO Zach Bradford stated that with this additional 5 EH/s expected to begin hash computing in the coming weeks, the company is expected to reach a computing power of 37 EH/s by the end of 2024.
Brokerage firm Bernstein recently gave CleanSpark stock (CLSK) a "outperform" rating, calling it one of the top three Bitcoin mining companies, along with MARA (formerly Marathon Digital) and Core Scientific. In terms of operation and energy efficiency, Bernstein stated that CleanSpark is "in the best position for energy efficiency and achieved computing power/running time".
CleanSpark announced last week that it mined 478 BTC in August, resulting in a 1.4 EH/s increase in total operating computing power. As of August 31st, the company's total holdings of Bitcoin were 7558, valued at approximately $439 million based on the price of $58150 as of the deadline.
In addition, CleanSpark's competitor MARA continues to adopt its "comprehensive HODL" strategy, stating on social media that its Bitcoin holdings have reached 26200, worth approximately $1.52 billion. According to the operational report released last week, MARA held 25945 BTC as of August 31, indicating that the company has increased its holdings by 255 BTC in the past two weeks or so.
