Bitcoin mining company CleanSpark has broken ground on the second phase at a site in Washington, Georgia that is set to house 16,000 miners. This move is expected to increase their total hash rate up to 8.7 EH/s, thus contributing an additional 2.2 EH/s.
In the new phase, the fleet of mining machines will include the Antminer S19j Pro and Antminer S19 XP, which are considered to be the latest and most energy efficient models of such machines currently available.
Bitcoin mining expansion
Depending 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 a 25% to 34% increase over its current hash rate of 6.5 EH/s. Zach Bradford, CleanSpark’s chief executive, said the company was quite confident of expanding quickly after buying the site and adding this 50MW to the existing 36MW of infrastructure.
In a statement, the executive said:
“This second phase more than doubles the size of the existing operation. We look forward to expanding our relationship with the Washington City community and being able to support the construction work that will come with this expansion.”
Construction of the second phase is projected to be completed in late spring.
CleanSpark’s focus on low carbon energy sources
The announcement comes amid a struggling market with several mining companies filing for bankruptcy, while more casualties are expected this year. CleanSpark, for its part, claims to have increased its hash rate from 2.1 EH/s, in January 2022, to 6.2 EH/s, in December 2022, despite a recession. It did so by selling a significant portion of its mined BTC to reinvest in growth following a “capital management strategy.”
CleanSpark also claims to operate primarily from low-carbon or renewable energy sources. In fact, the first phase of the company’s site uses primarily low-carbon energy sources. As Scott Garrison, vice president of business development, noted, the Georgia site also employs state-of-the-art technology and is among the most energy-efficient and sustainable Bitcoin mining operations.
Meanwhile, Georgia has attracted a number of miners in recent years with its relatively low power prices. It also offers a considerable amount of nuclear and solar power, allowing the entities to brand themselves as “sustainable and green.”
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This post CleanSpark kicks off 50MW Bitcoin mining expansion
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