CleanSpark Inc signs deal to acquire turnkey bitcoin mining facility in Georgia

[Bitcoin]

CleanSpark Inc signs deal to acquire turnkey bitcoin mining facility in Georgia

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The sustainable bitcoin mining and energy technology company said 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.

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CleanSpark Inc (NASDAQ:CLSK) has announced an agreement to acquire a turnkey bitcoin mining facility in Sandersville, Georgia from Mawson Infrastructure Group Inc (NASDAQ:MIGI, OTC:MIGI) for a total purchase price of up to $33 million.

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The company said under the terms of the agreements for the facility and miners, Mawson will receive consideration of about $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.

"The site is nothing but impressive - well-run by over 20 dedicated professionals who have taken significant pride in the design, development, and maintenance of the site," CleanSpark CEO Zachary Bradford said in a statement.

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Source: CleanSpark Inc signs deal to acquire turnkey bitcoin mining facility in Georgia

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