![]() “We have strategically grown our operations in Georgia because of the state’s strong business ethic, competitive power rates, and an abundance of carbon-free energy, specifically nuclear. “Georgia has one of the most favorable operating environments in the country,” said Matthew Schultz, CleanSpark’s executive chairman. CleanSpark and Mawson expect to close the transaction in early October. The agreement has been approved by the organizations’ respective boards of directors and is subject to customary closing conditions. We would like to sincerely thank the City of Sandersville for welcoming us into their community and being high-quality partners over the last several years.” “We now intend to focus our attention on the continued development of our Pennsylvania and Texas facilities where we see the opportunity for compelling returns on capital. “We have thoroughly enjoyed working with the CleanSpark team on this transaction and look forward to working closely with them going forward,” said James Manning, CEO and Founder of Mawson. ![]() Immediately upon completion, CleanSpark will use the space for self-mining. This process is slated to begin in early 2023. The maximum total purchase price for the facility and miners is $42.5 million.Īs part of the agreement, CleanSpark will provide up to 30 MW of temporary hosting capacity, for up to 180 days, while Mawson transfers miners to its Pennsylvania operations. Under the terms of the agreements for the facility and miners, Mawson will receive consideration of approximately $26.5 million in cash (including the $9.5 million for the miners) at closing up to $11 million in CleanSpark stock (based upon the current trading price), $6.5 million which is issuable at closing and the remaining $4.5 million of which is subject to reaching certain earn-out commitments $3 million in seller financing in the form of promissory notes and, an additional $2 million in a seller-financed earn-out payable at least 60 days post-closing upon certain conditions being met. These machines, already operating at the acquired site, will add over 558 petahashes per second (PH/s) of computing power immediately upon closing. This capacity supports CleanSpark’s target of over 22 EH/s by the end of 2023.ĬleanSpark has also agreed to purchase from Mawson 6,468 of the latest generation mining ASICs for approximately $9.5 million in cash, at a cost of $17 per terahash. (Nasdaq: MIGI) (“Mawson”) to acquire Mawson’s turnkey bitcoin mining facility in Sandersville, Georgia, for up to $33 million. The transaction is expected to add 1.4 exahashes per second (EH/s) to CleanSpark’s hashrate before year-end, 2.4 EH/s in early 2023 and 7.0 EH/s by the end of 2023. 09, 2022 (GLOBE NEWSWIRE) - CleanSpark, Inc. (Nasdaq: CLSK) (“CleanSpark”), America’s Bitcoin Miner™, today announced it has entered into definitive agreements with Mawson Infrastructure Group Inc. Total planned capacity for the site in Sandersville is 230 MW, expected to support 7.0 EH/s CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States. Capacity is expected to increase to over 300 PH/s in mining capacity in early 2021. The Company also owns and operates a fleet of over 3,400 ASIC (application-specific integrated circuit) Bitcoin miners producing over 200 PH/s in mining capacity. Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services. We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions. ![]() CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges. ![]()
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