CleanSpark Inc. (Nasdaq: CLSK), America's Bitcoin Miner™, today announced that phase two of its mining campus in Washington, Georgia, is live. The site is expected to increase the Company's bitcoin mining compute power (or hashrate) by 1.8 exahashes per second (EH/s) to 8.5 EH/s, or over half of its 16 EH/s target for year-end.

Phase two of the Washington campus has a power capacity of 50 megawatts (MW) or just over 15,000 mining machines, of which about 10,500 are already in operation. CleanSpark acquired the 36 MW campus along with existing infrastructure and machines for $25.1 million in August 2022, and has invested about $55 million on phase two – including construction, infrastructure, and machines – which is expected to increase the total power capacity to 86 MW. Including additional miners purchased and added to phase one, the total investment by the Company in the campus is over $100M and has already been fully funded.

 "The speed with which our team has successfully executed this expansion testifies to the technical expertise and experience that we have gained since we transitioned from an energy company to a bitcoin mining company," said Zach Bradford, CEO of CleanSpark. "But it couldn't have been possible without local contractors and the Washington, GA, community, who have been supportive partners of our efforts to generate sustainable economic growth in the area. This expansion has already helped us get more than halfway to our year-end guidance of 16 EH/s."

CleanSpark has followed an aggressive growth trajectory after the latest bear cycle began in 2022. Its latest acquisition was last month, when it acquired a turnkey bitcoin mining campus, that consists of two sites, in Dalton, Georgia, for $9.3 million in an all-cash deal. CleanSpark mines with the most power-efficient generation of mining machines in the market and uses predominantly low-carbon energy sources, which account for over 90% of its energy mix.