CleanSpark, a technology solutions company, provided an update on its acquisition of the ATL Data Center on December 18, 2020. Previously, the company had announced that the acquisition was centered on the chance to position its patented microgrid software and controls at the ATL Data Center. The goal was to increase power capacity, energy savings, and resiliency. CleanSpark believes that the deployment will signify to other mining centers the value of microgrid solutions using distributed energy sources including solar, energy storage, and other renewables in a real-world power-intensive application.
Expansion Of The Bitcoin Mining Operation
With the use of microgrid technologies, the company expects that its Bitcoin production will increase while lowering energy expenses. This will put the company in a prime position to increase overall profitability. Since it announced the acquisition a week ago, CleanSpark through ATL Data Center has earned around 10 Bitcoins. By December 17, 2020, Bitcoin had reached its ATH of $23,775, which was an increase from $18,279 on the day they completed the acquisition.
CleanSpark revealed that it had placed an order for 500 new Bitcoin mining rigs. These rigs will be deployed at the ATL location in Atlanta, GA. The mining rigs are expected to arrive in the second week of January 2021. The company revealed that it had managed to install 38 more S19 ASICs. The machines will be added to the over 3400 ASIC that are already in operation.
According to the CleanSpark CEO, Zachary Bradford, they were extremely pleased with the first week since the ATL acquisition. During the integration of teams, ATL has continued its mining operation without interruption. Bradford said that with the latest S19 deployed, they now had over 200 PH/s of mining capacity. He added,
“We are focused on successfully deploying renewable energy assets in digital currency mining, and CleanSpark anticipates upon implementation of its solutions that its total costs to mine at ATL will be among the lowest in the United States.”
The CleanSpark Executive Chairman, Matthew Schultz, also commented on the issue. He said that the 10 BTC they had mined since the acquisition had added roughly $200,000 to the revenues. Schultz said that their commitment to ATL was to give their experts autonomy. Besides that, they would provide the crucial resources and support needed to expand the facility and increase profitability. Schultz added,
“This begins by providing energy solutions, but additionally by supporting the procurement of new mining equipment to increase output and efficiency, as evidenced by the new ASICs deployed thus far.”
The Recent Rise of Bitcoin
Bitcoin recently achieved a new all-time high, which has been a boon for most miners. Prior to this year, Bitcoin’s all-time high of $19,834 was achieved in December 2017. At the time of this article, Bitcoins price is currently trading at $23,816. Over the last year, Bitcoin has surged ~ 227%, making it the best performing asset despite a global pandemic.
Some of the major catalysts for BTC this year include institutional adoption and adoption in payments. Ever since PayPal announced its move into crypto payment services this year, BTC has continued to rally. With PayPal essentially giving 200M+ people access to digital assets, it was arguably the biggest news since its inception.
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