CleanSpark Expands Operations as It Acquires Five New Mining Facilities in Georgia
CleanSpark is a Bitcoin mining firm operating out of Georgia that is focused on clean energy sources. The platform has recently purchased and opened 5 new Bitcoin mining facilities.
CleanSpark’s Hashrate Output
As per the details, the new mining rigs will allow the platform to increase its total hashrate output by 20 exahashes per second. The article talked about the new agreement with the mining services providers in Georgia to acquire 5 new mining rigs.
CleanSpark has reported that the $25.8 million deal will undergo an instant approval. At the same time, the contract will allow the firm to increase its total hashrate output by 3.7 exahashes per second or EH/s in terms of processing power. The mining farms have changes in terms of operational capacity.
The platform is going to increase from 8 to 15 megawatts in regards to power with an accumulated power production of 60 megawatts. At the same time, the spokesperson for CleanSpark has claimed that they are confident about the total hashrate production of the increase in the 20 EH/s by the conclusion of June.
Furthermore, the new mining facilities are subjected to interrupted-load designated power purchase agreements (PPAs) to offer a balanced load service to the local electric grid.
Relationship Between Bitcoin Miners and the Energy Sector
The CEO of CleanSpark, Zach Bradford, has recently issued a statement on the matter of the acquisition of the new mining rigs. The executive has talked about the beneficial relationship of Bitcoin miners with the regional energy infrastructure.
According to his statement, the sites enhance the load balancing ability of the local cities that are working with Bitcoin mining services providers.
At the same time, the local service providers are also focusing their attention on achieving their 20 EH/s goal as the operational hashrate. The Bitcoin mining sector operational within the United States has amassed a renewed regulatory focus on account of the pledge from former president Donald Trump.
The Republican Party candidate has noticed that Bitcoin should be made in the USA. At the same time, Trump also organized several meetings with industry leaders such as Riot platforms, TeraWulf, and CleanSpark.
On 12th June, a social media post update from the former president stated that Bitcoin may be the last line of defense for America against a Central Bank Digital Currency (CBDC). The post also retained that Bitcoin has the power to make Bitcoin energy dominant.
These remarks have sparked a storm among digital asset proponents and industry participants. Some of the natives have retained that he does not have insights about the sector and endorsing digital assets as a way to amass more votes.
Rise of NFT Sales
Another report claimed a significant surge in NFT sales on 12th June. The rise in demand was noticed across multiple blockchains and trading platforms with an emphasis on Bitcoin collectibles.
Along the same lines, McDonalds, an international fast food giant recently, makes strides within the crypto sector by issuing a series of new NFTs for their metaverse platforms in Singapore and South Korea.
The NFT launch was followed by the classification of NFTs as virtual assets in South Korea and Singapore. The fast food chain launched My Happy Place NFT for their Singapore metaverse on 6th June 2024.
In the virtual reality realm, users can make a virtual burger and participate in various activities. McDonalds is also partnering with Bandwagon Labs to develop interactive virtual environment to foster artistic abilities via daily rewards.
The McDonalds metaverse has a web 3.0 infrastructure and also supports MetaMask wallet and token-gated facilities and serves as a digital collectibles marketplace. The visible rise of NFTs also contributed to Bitcoin weekly prices as per analysts.
With an 18% surge in NFT sales, the sector generated a total sales volume of $147.3 million. This led to a massive trading volume surge in various blockchains such as Blast, Immutable, and Polygon.
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