CleanSpark buys two bitcoin mining sites in Mississippi for $5.775 million

Bitcoin miner Cleanspark has been on a bit of a buying spree of late.

The company on Tuesday announced it has acquired two bitcoin mining sites and associated land near Clinton, Mississippi. The acquisitions have a combined purchase price of $5.775 million and will support a total of 16.5 megawatts, according to a press release. 

The site will be delivered to CleanSpark turnkey ready with an expected completion date of Dec. 1. The site will house S21 pro miners with an expected combined operating hash rate of approximately one exahashes per second (EH/s). The addition of these sites will bring CleanSpark's data center portfolio in Mississippi to 60.5 MW. 

"Including today's announcement, our operational capacity has soared over the last seven days totaling 211.5 MW of new capacity," said CEO Zach Bradford. "That's an increase of nearly 38 percent, 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. CleanSpark's rapid growth underscores our ongoing commitment to deliver long-term shareholder value."

Tuesday's announcement comes less than a week after the bitcoin miner said it will acquire seven mining facilities and associated land in Knoxville, Tenn., for $27.5 million, or about $324,000 per megawatt.

CleanSpark's stock (ticker: CLSK) was trading up 1% to $9.16 per share at publication time. The stock is down 15.6% in the year-to-date period. Bernstein recently gave the stock an "outperform" rating, calling it one of the three largest bitcoin producers, along with MARA and Core Scientific.