Bitcoin

<a href="https://ultramining.com/news/en/cleanspark-doubles-down-on-bitcoin-mining-with-55m-expansion/">CleanSpark</a> Inc., a major player in the Bitcoin mining industry, is making significant advancements in its expansion efforts. The company recently acquired a new Bitcoin mining site in Cheyenne, Wyoming, and secured 75 MW of power contracts. This move will enhance CleanSpark's mining capabilities, adding over 2 exahashes per second (EH/s) to its hashrate in the initial phase, according to <a href="https://www.cleanspark.com/blog/cleanspark-executes-75-mw-of-power-contracts-and-completes-acquisition-of-bitcoin-mining-site-in-wyoming">Cleanspark</a>.&nbsp;&nbsp; 
The Wyoming site marks CleanSpark's third state of operations, joining its existing sites in Georgia and Mississippi, as well as co-locations in Tennessee and New York. The new facility will use cutting-edge S21 immersion XPs mining machines, ensuring efficiency and sustainability. Construction is set to begin immediately, with the site expected to be operational by year-end. Initially, the facility will have a power capacity of 30 MW, with plans to expand to 45 MW, contributing an additional 3 EH/s to CleanSpark’s hashrate. 
Wyoming's favorable environment for Bitcoin mining is a significant factor in CleanSpark's expansion. The state's support is evident through initiatives like the University of Wyoming's Bitcoin Research Institute and the BITCOIN Act introduced by Senator Lummis. CleanSpark’s CEO, Zach Bradford, expressed excitement about expanding in such a supportive state, stating, "Working together with local, state, and national leaders, CleanSpark plans to grow its footprint beyond Cheyenne, throughout the beautiful state of Wyoming." This aligns with the company's strategy of leveraging low-carbon power for its operations, reinforcing its commitment to sustainable energy solutions. 
CleanSpark's financial performance highlights its strategic growth. In June, the company reported a hashrate exceeding 20 EH/s, doubling its capacity since December. During this period, CleanSpark mined 445 Bitcoin, increasing its holdings to 6,591 BTC. This growth is part of a broader strategy to acquire and expand operations, including a pending acquisition of GRIID Infrastructure, which will strengthen its presence in Tennessee.

CleanSpark’s Strategic Expansion in Wyoming Positions It as a Leader in Bitcoin Mining

Ultramining_Eng

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