CleanSpark's mining expansion continues with Wyoming facilities

Nasdaq-listed Bitcoin miner CleanSpark is continuing its expansion with the groundbreaking for a new facility in Cheyenne, Wyoming, which it expects to be operational by yearend. It is also in the process of acquiring a second Wyoming site and will expand into Tennessee through the acquisition of GRIID Infrastructure.

CleanSpark has executed 75 megawatts of power contracts in Wyoming, with 30 MW to run S21 immersion XP application-specific integrated circuits (ASICs) at the facility already planned. That will raise the company’s hash rate by 2 EH/s. CleanSpark is seeking additional power sources for the facility.

The remaining contracted 45 MW is on hand for the second Wyoming site. CleanSpark is “progressing on the close of the underlying real estate” of that site, which is expected to add 3 EH/s to the hashrate when operational.

CleanSpark is getting around

CleanSpark is new to Wyoming. Most of its activity is concentrated in Georgia and Mississippi. CleanSpark CEO Zach Bradford said in a statement:

“On the heels of the University of Wyoming announcing the launch of its Bitcoin Research Institute and Senator Lummis introducing the […] BITCOIN Act, we are thrilled to expand in a state so publicly supportive of our industry.”

CleanSpark will add more than 400 MW of capacity over two years in Tennessee with the acquisition of GRIID Infrastructure in a deal worth $155 million. It also picked up a co-location in New York in that deal.

CleanSpark is moving up in the world

CleanSpark displaced Riot Platforms as the United States’ second-largest crypto miner by market cap in the second quarter of this year. It has been rapidly expanding this year. In February, it added a facility in Georgia to its existing six and moved into Mississippi with three turnkey operations.

In June, it added another five facilities in Georgia, bring its total there to 12. In June, the last month it has released data for, it mined 445 Bitcoin (BTC) for a year’s total of 3,614 BTC. On June 30, it sold 8.06 BTC and had holdings of 6,591 BTC.