CleanSpark Acquires 75MW Cheyenne Bitcoin Mining Sites

CleanSpark has completed the acquisition of 75-megawatt bitcoin mining sites in Cheyenne, Wyoming, previously operated by MineOne.

CleanSpark first announced its plan to purchase the two sites in early May for $18.75 million, just days before the Biden administration halted MineOne’s operations due to national security concerns related to Chinese ownership near a U.S. Air Force base.

On Thursday, CleanSpark confirmed the transaction’s completion, stating that the first site has a power capacity of 30 megawatts. “Groundbreaking is planned for an immediate start with an expected operational date prior to the end of 2024,” the company said in a release.

CleanSpark plans to deploy immersion-cooled Antminer S21XPs at the first Wyoming site, which is expected to add 2 EH/s of hashrate once operational.

Additionally, CleanSpark said it is progressing on closing the underlying real estate of a second site, which is estimated to bring another 45 MW online, contributing an additional 3 EH/s of hashrate.

This acquisition follows CleanSpark’s previous bid to buy out GRIID in an all-stock deal, which will provide CleanSpark with a hosting capacity of 20 MW while the transaction is ongoing.

CleanSpark is the fastest-growing public mining company in terms of realized hashrate so far in 2024. Its realized hashrate increased by 86.8%, from 9.59 EH/s in January to 17.91 EH/s in June, following a series of mergers and acquisitions.