CleanSpark's Georgia Expansion Gets Boost from 4-Cent Power Deal

CleanSpark's expansion plans are set to revolutionize the Bitcoin mining landscape in Georgia. The company has already invested over $100 million in its Washington campus, which provides a staggering 86 MW of power capacity. Phase two of this site is expected to increase capacity by another 50 MW, bringing the total to 136 MW.

This expansion will make CleanSpark one of the largest mining facilities in the state, with a compute power of over half of its target 16 EH/s. The company's acquisition of a 36 MW campus in 2022 for $25.1 million has already paid off, with the site now home to 15,000 mining machines.

The real game-changer is the 4-cent power deal from the Tennessee Valley Authority, which will significantly reduce CleanSpark's energy costs. This low-power advantage gives the company a massive edge over its competitors, making it more likely to remain profitable even when hashprice falls.