Bitcoin mining company – CleanSpark – has started the construction of the second phase on a site in Washington, Georgia, that is set to accommodate 16,000 miners. This move is expected to increase its hash rate total to as high as 8.7 EH/s, thereby contributing an additional 2.2 EH/s.
In the new phase, the mining machine fleet will include – Antminer S19j Pro and Antminer S19 XP – which are considered to be the latest and most power-efficient models of such 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 25% to 34% increase from its current hash rate of 6.5 EH/s. Zach Bradford, CleanSpark’s Chief Executive Officer, said the company was fairly confident about expanding quickly after purchasing the site and adding this 50MW to the existing 36MW of infrastructure.
In a statement, the exec said,
“This second phase more than doubles the size of the existing operation. We are looking forward to expanding our relationship with the Washington City community and to be able to support the construction jobs that will come with this expansion.”
The construction of the second phase is projected to be completed by late spring.
CleanSpark’s Focus on Low-Carbon Sources of Energy
The announcement comes amidst a struggling market with several mining companies filing for bankruptcy, while more casualties are expected this year. CleanSpark, for one, claims to have ramped up its hash rate from 2.1 EH/s, in January 2022, to 6.2 EH/s, in December 2022, despite a downturn. It did so by selling a major portion of its mined BTC to reinvest in growth by following a “capital management strategy.”
CleanSpark also claims to mine mainly with renewable or low-carbon sources of energy. In fact, the company’s first phase of the site primarily uses low-carbon sources of power. As noted by Scott Garrison, Vice President of Business Development, the Georgia site also employs the newest generation technology and is among the most power-efficient and sustainable Bitcoin mining operations.
Meanwhile, Georgia has attracted several miners over the past couple of years with its relatively low energy prices. It also offers a considerable amount of nuclear and solar power, enabling entities to brand themselves as “sustainable and green-oriented.”
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.