CleanSpark Acquires Five Mining Facilities; Trump’s Bitcoin Comments Ignite Reactions
Summary:
US-based Bitcoin mining company, CleanSpark, has sealed a deal to acquire five mining facilities in Georgia, with the combined sites projected to exceed 3.7 exahashes per second in processing power. Following this acquisition, CleanSpark's total hashrate is expected to rise to over 20 exahashes per second by June end. Meanwhile, amidst a growing focus on the Bitcoin mining industry, former President Trump's recent comments on Bitcoin have stirred varied reactions in the crypto community.
CleanSpark, a US-based Bitcoin mining company dedicated to harnessing renewable energy, has publicized a concrete agreement to procure five mining sites located in Georgia. The announcement made on June 18 detailed an immediate closure of the $25.8 million deal stating that the collected processing power from all five sites is set to surpass 3.7 exahashes per second. Operational capacity of these mining locations ranges from 8 to 15 megawatts of energy, amounting to an overall 60 megawatts. Company officials from CleanSpark confidently state an anticipated increase in the company's total hashrate to exceed 20 exahashes per second by the end of June. Furthermore, the recent acquisitions include power purchase agreements (PPAs) with the provision for interruptible-load, thus providing load-balancing services to the local electrical grid. Post acquisition announcement, CEO of CleanSpark, Zach Bradford, presented a forward-looking statement highlighting the advantageous alliance between regional energy infrastructure and Bitcoin mining operators.
Accompanying news reveals American mining companies' increasing vigilance towards the 2024 Presidential election due to the Bitcoin mining industry's growing relevance in the USA. This comes after former President Trump's insistence on Bitcoin being "made in the USA", proceeding a private assembly with industry heads from Riot Platforms, CleanSpark, and TeraWulf. In a social media post dated June 12, Trump, the 2024 Presidential candidate, posited that Bitcoin could potentially be America's safety net against a central bank digital currency (CBDC), furthermore implying that Bitcoin could grant the US energy dominance. Trump's remarks sparked both criticism and support within the cryptocurrency world, with some saying he is drumming up support for his campaign, while others like Shapeshift founder Erik Vorhees took his comments as a positive sign. Following Trump's meeting and his stated backing for the broader cryptocurrency sector, executives from Marathon Digital Holdings, CleanSpark, and Riot Platforms introduced "The Bitcoin Voter Project." The 501(c)(4) non-profit organization is a bi-partisan voter awareness initiative targeted to educate and spread wisdom about the burgeoning digital asset market and blockchain industry, instead of endorsing potential candidates or parties.
Published At
6/18/2024 7:45:00 PM
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