Bitcoin mining company CleanSpark purchases 2 Clinton-area properties, plans to build 2 new facilities

The sites will be home to a total of 20 custom-crafted, air-cooled mining pods.

A bitcoin company has purchased two properties in and around Clinton to turn into mining sites.

CleanSpark announced Tuesday it is constructing two buildings associated with the properties with an expected completion date of Dec. 1

The sites will be home to a total of 20 custom-crafted, air-cooled mining pods.

The acquisitions have a combined purchase price of $5.775 million and will support a total of 16.5 MW of energy, according to CleanSpark. The sites are currently partially completed and the purchase price includes the cost to complete construction of the site infrastructure.

Upon completion, the site will house "S21 pro miners" to do the work with an expected combined operating "hash rate" of approximately "1 exahashes per second."

Hash rate is a measure of the computational power of a cryptocurrency network, group or individual. It's a way to determine how many calculations can be performed per second, and is usually measured in units of hash/second. Similarly, An exahash is a unit of measure used to describe the computational power used to mine Bitcoin.

The addition of these sites will bring the company's data center portfolio in Mississippi to 60.5 MW.

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“Including today's announcement, our operational capacity has soared over the last seven days totaling 211.5 MW of new capacity. That's an increase of nearly 38%, which will not only support our target of 37 EH/s by the end of 2024, but also our target of 50 EH/s in 2025,” company CEO Zach Bradford said in an announcement. “CleanSpark's rapid growth underscores our ongoing commitment to deliver long-term shareholder value.”

Bitcoin mining facilities can use an exhaustive amount of energy.

CleanSpark told the Clarion Ledger it connects directly to the grid via power lines and transformers in the same way all customers do, albeit at a large scale.

"Typically, utilities maintain a combination of transmission lines, substations, and power lines connected to transformers to deliver electricity to end customers," a spokesperson said. "CleanSpark looks to work in conjunction with power companies to locate strategically within their system to mine effectively at scale."

The company, which also announced a deal for a site in Wyoming on Tuesday, said the Clinton area was attractive for many reasons.

CleanSpark has been actively acquiring sites over the past several years and these fit our criteria in terms of cost to acquire, electricity cost, and proximity to other facilities," the spokesperson said. "The business environment that Mississippi offers is constructive in the same ways that we have found in Georgia, Tennessee, and Wyoming."

Ross Reily can be reached by email at rreily@gannett.com or 601-573-2952. You can follow him on Twitter @GreenOkra1.

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