As a seasoned crypto investor with over a decade of experience under my belt, I find myself both intrigued and slightly amused by CleanSpark’s recent moves. The company’s ability to navigate through the U.S.-China political landscape, especially given the national security concerns, is nothing short of impressive.
CleanSpark, a Bitcoin miner, announced it had secured a 75 MW capacity in Wyoming, overcoming earlier national security apprehensions.
CleanSpark Inc., an American company specializing in Bitcoin mining, declared their successful purchase of a Bitcoin mining facility in Wyoming, addressing and resolving earlier national security apprehensions expressed by the White House.
In a report released on August 2nd, the company announced it had secured power contracts for 75 MW within the state and initiated hashing activities in Tennessee, boosting its hash rate by an additional 1 EH/s during July. According to CleanSpark’s CEO, Zach Bradford, this progress keeps them on target to reach their goal of 32 EH/s by the end of 2024.
As a crypto investor based in Tennessee, I started mining cryptocurrencies back in July under our partnership with GRIID Infrastructure Inc. We’ve added an additional 1 EH/s to our hashrate, and we’re steadily moving forward on our path of growth. Our ultimate goal is to reach 32 EH/s by the end of this year, a target we’re confidently working towards.
In July, CleanSpark mined 494 Bitcoin (BTC), bringing its total produced crypto for 2024 to 4,108 BTC. During the month, the firm sold 2.54 BTC at an average price of approximately $62,070 each, ending the month with an operating hashrate of 21.2 EH/s. As of July, CleanSpark held 7,082 BTC in its holdings, the report reads.
CleanSpark caught in U.S.-China political battle
Despite earlier national security concerns, CleanSpark managed to secure the Wyoming site following its acquisition of several mining sites from MineOne, a company with connections to China, positioned close to Warren Air Force Base, home to strategic nuclear weapons.
During the transaction, President Joe Biden declared an emergency and stopped operations at the site, explaining that the “use of sophisticated and foreign-made equipment that might aid in surveillance or spying, poses a threat to U.S. national security.” The order further demanded the elimination of all cryptocurrency mining devices within a mile radius of the military base.
In spite of the raised issues, CleanSpark pushed through with the purchase. A representative from the firm admitted to encountering unforeseen difficulties but reaffirmed CleanSpark’s dedication to adhering to regulations and ensuring national security.
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2024-08-03 01:28