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Mining Boom: Clean Park Prepares to Double Hashrate Ahead of Bitcoin Halving
The CleanSpark mining company plans to significantly strengthen its position in the Bitcoin cryptocurrency mining industry. Ahead of the upcoming halving, expected at the end of April, the company intends to double the hashrate of its mining operations.
CleanSpark has invested in expanding its capacity by acquiring three new mining farms in Mississippi for a total of $19.8 million. These farms are capable of generating an additional 2.4 hashes per second (Eh/s). Additionally, a farm in Dalton was purchased during construction at a cost of $6.9 million, with a hashrate potential of 0.8 Eh/s, which is scheduled to be launched by April.
In addition to acquiring new facilities, the company is also actively upgrading existing mining units in Sandersville, aiming to increase their total hashrate to the desired 20 Eh/s in the near future, which is twice the current processing capacity at 10 Eh/s.
CleanSpark CEO Zach Bradford emphasized the strategic importance of these steps to improve the company's efficiency in light of the approaching halving of bitcoin. Mat Schultz, the co-founder of CleanSpark, previously expressed the opinion that many mining firms may face losses after reducing the remuneration for mining bitcoin. Nevertheless, he is convinced that thanks to these steps, CleanSpark will be able to maintain profitability in the new market conditions.
These acquisitions and expansion of production capacity are part of CleanSpark's strategy to strengthen its market position and prepare for the next bitcoin halving, potentially contributing to increased mining profitability for the company.
