Summary by Moomoo AI
CleanSpark has entered into definitive agreements to acquire seven bitcoin mining facilities and associated land in the Knoxville, Tennessee area for $27.5 million. The acquisition encompasses 85 megawatts of immediately available capacity across facilities ranging from 10 MW to 20 MW, with a purchase price of approximately $324,000 per megawatt.The company expects to achieve 5 exahashes per second (EH/s) of additional operating hashrate once the recently arrived S21 pro miners are installed, representing a 22% increase in current hashrate. The installations will commence after the anticipated closing dates of September 25, 2024. With this expansion and other ongoing projects, CleanSpark projects reaching 37 EH/s before the end of 2024.The transaction includes the purchase of seven operating entities from Exponential Digital, LLC, and approximately 21 acres of real property from US Farms & Mining, Inc. The deal structure involves three separate Membership Interest Purchase Agreements totaling $25 million and a Real Estate Purchase Agreement for $2.5 million.
