CleanSpark Inc (NASDAQ:CLSK) said it has completed the acquisition of Mawson Infrastructure Group Inc (NASDAQ:MIGI, OTC:MIGI)’s bitcoin mining facility in Sandersville, Georgia, including 6,500 miners or about 560 petahashes per second (PH/s) and the transition of Mawson’s former staff to the CleanSpark team, effective October 8.
The company said the Sandersville site is its fourth campus in Georgia, with other locations in College Park, Norcross, and Washington.
Including Sandersville, CleanSpark said it operates about 220 megawatts (MW) of bitcoin miners, with a hashrate of more than 4.7 exahashes per second (EH/s).
READ: CleanSpark sees increases in hashrate and Bitcoin balance throughout September
CleanSpark CEO Zach Bradford commented: “Mawson has built a world-class facility, staffed by an incredible team, and we are looking forward to continuing their work in Sandersville, eventually building this site to its full potential of 230 MW as we work toward our 2023 year-end guidance of 22.4 EH/s.”
He continued: “We are equally committed to deepening and developing our relationship with the people of Sandersville as we build sustainable bitcoin infrastructure.”
In accordance with the definitive agreements, Mawson received at closing consideration of $34.3 million, which includes 1,590,175 shares of CleanSpark stock, subject to certain holdbacks, CleanSpark said.
Mawson may receive an additional $2 million in a seller-financed earn-out payable after 60 days post-closing once certain conditions are met, the company noted.
CleanSpark is an energy technology and sustainable bitcoin mining company that is focused on solving modern energy challenges.
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