CleanSpark expands Texas mining operations with up to 500 MW of renewable power

CleanSpark (NASDAQ:CLSK) trades 3.4% higher premarket after it signed an agreement with Houston-based Lancium to secure an initial 200 MW at Lancium's renewably-powered datacenters in West Texas, with an option to add 300 MW more in the future. Lancium is an energy technology and infrastructure company dedicated to accelerating the energy transition with its Clean Campuses located in regions with access to low-cost renewable energy. Approx. 50 MW of purchased capacity is expected to be operational by Dec.31, 2022 while remaining to be operational during Spring 2023. Post utilization of this capacity, CleanSpark will add an estimated 16.0 EH/s to its current forecasted hashrate of 4.0 EH/s. As of Feb.28, CleanSpark has 22K+ bitcoin mining machines in operation, with 20K+ Bitmain S19 series rigs pending delivery and deployment in batches through October 2022.