CleanSpark Inc (NASDAQ:CLSK) said it has purchased new immersion cooling infrastructure for its Norcross bitcoin mining facility that is expected to increase mining efficiency by at least 20%.
The 20 megawatt (MW) project will consist of 180 liquid-filled tanks, each containing 33 units of the Antminer S19j Pro machines, which CleanSpark said are the newest generation series of bitcoin miners on the market, fully immersed in a proprietary cooling liquid.
Installation will start immediately and occur in phases, with the first 8 MW expected to go live in February 2022.
READ: CleanSpark buys more bitcoin mining machines; says spot market pricing is favorable
In addition to boosting mining efficiency, the new infrastructure is also expected to reduce operational expenses, CleanSpark said.
The Salt Lake City-based technology company provided several rationales for the purchase. Liquid immersion cooling increases the hashrate of bitcoin mining machines, reduces power consumption, and extends the life of the machines, while the technology does not require regular re-outfitting.
In addition, the liquid is a synthetic hydrocarbon compound that has no electrical conductivity, is fully biodegradable and safe, according to CleanSpark.
“We are constantly seeking ways to make our operations more sustainable and productive while achieving maximum performance,” said Zach Bradford, CEO of CleanSpark in a statement. “Deploying an environment-friendly cooling technology that also increases the economics of our bitcoin mining operations was an obvious choice for us.”
The firm’s executive chairman Matthew Schultz told investors that the project expands CleanSpark’s portfolio of energy-efficient solutions and adds to the engineering tools at its disposal.
CleanSpark acquired the Georgia site in August. The firm expects capital and human investments of nearly $145 million over the next five years at the site.
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