CleanSpark Expands Mining Operations Ahead of Bitcoin Halving

The bitcoin miner acquires four new facilities, aiming to double its hash rate as the cryptocurrency community anticipates the April halving event.

CleanSpark has acquired three bitcoin mining facilities in Mississippi for $19.8 million and an additional facility in Dalton, GA, for about $7 million.
The acquisitions are expected to boost CleanSpark's operating hash rate by approximately 3.2 exahashes per second (EH/s), aiming for a total of 20 EH/s by the first half of 2024.
The company's strategic expansion includes the purchase of 60,000 Bitmain S21 miners, with an option for 100,000 more, to support its growth.
CleanSpark's stock rose nearly 9% following the announcement, reflecting investor optimism in the face of the upcoming bitcoin halving.
The bitcoin halving, expected in April, will reduce mining rewards from 6.25 to 3.125 BTC, prompting miners to increase efficiency and capacity.