CleanSpark Shares Rise 5% After Purchasing Bitcoin Mining Facilities

By Chris Wack

CleanSpark shares were up 5% to $4.64 Wednesday after the company said it is buying two turnkey bitcoin mining campuses in Dalton, Ga., for a cash payment of $9.3 million.

The stock closed Tuesday's session up 14% and is up 124% year to date.

The bitcoin mining company said the deal is scheduled to close later this week and the facilities are expected to add just under 1 exahash per second to its hashrate.

The two facilities will host a total of more than 6,000 Antminer S19 XPs and S19J Pro+s bitcoin mining machines, from orders placed and fully paid for by CleanSpark earlier this year.

"This acquisition ensures that we have more than enough infrastructure to reach our year-end target of 16 EH/s," said Chief Executive Zach Bradford.

Earlier in June, CleanSpark bought 12,500 brand-new Antminer S19 XP machines at a discounted price. The company also purchased 20,000 brand-new Antminer S19j Pro+ units in February, all of which have been fully paid for, and 45,000 brand-new Antminer S19 XP units in April.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

June 21, 2023 10:38 ET (14:38 GMT)

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