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- 1 CleanSpark, the superior player in the Bitcoin mining industry, is all prepared for the next Bitcoin Halving event.
- 2 The company wishes to boost hash power and establish strategic acquisitions and expansion initiatives.
Bitcoin (BTC) Halving is one way to make a big move in the crypto universe. As the event is approaching, CleanSpark, a BTC mining company, is preparing well. The company expanded its operations with four mining facilities and aims to double the hash rate. Also, the motive is to enhance its mining capabilities and expand its geographic reach.
CleanSpark’s Bitcoin Halving Preparation Plan
The Bitcoin mining company CleanSpark revealed its plan for the upcoming big event in the crypto space. The plan is to boost the hashing power for which the company invested in strategic acquisition and enhancement in the mining capabilities and geographic reach.
In a recent press release, the company purchased three BTC mining facilities worth $19.8 Million in Mississippi and expanded existing Dalton facilities to meet the expected results.
On February 6, 2024, CleanSpark announced two new acquisitions to reach 20 EH/s (Exahashes per second) to substantially enhance the operational hash rate. The strategy comes into the spotlight after CleanSpark’s announcement in January to buy up to 160,000 S21 miners, offering a way to 50 EH/s.
Based on the recent data, Mississippi and Dalton are the main focus areas. The company agreed to buy three mining facilities in Mississippi, which is expected to generate an operating hash rate of 2.4 EH/s.
Moreover, CleanSpark is all prepared to expand its operations in Dalton, acquiring a third site to carry out the expected hash rate of 0.8 EH/s by April 2024. Also, Dalton’s existing hash rate is the same as the expected hash rate. The third mining service is in progress with an initial investment of $3.4 Million and requires an additional investment of $3.5 Million for project accomplishment.
“Announced our plan to expand footprints in Dalton and supposed to triple the hash rate without increasing the operation costs,” said Zach Bradford, the CEO of CleanSpark.
Additionally, the plan is supposed to exceed 20 EH/s in the first half of 2024, along with the increase in geographic diversity and operational efficiency.
Bitcoin Halving Insights
BTC halving is an event in which the bonuses for Bitcoin mining are shortened to half. The event takes place every four years and is conducted to counteract inflation by maintaining coin scarcity.
The next halving event is estimated to occur on April 19, 2024, when mining rewards will be reduced from 6.25 BTC to 3.125 BTC. Also, the event takes place every four years after the mining of every 210,000 blocks.
According to CoinMarketCap data, the BTC price is $47,873.56, a drop of 0.75% in 24 hours. The 24-hour volume of BTC is $20,400,731,875, and the market cap is over $939,160,746,374.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
