CleanSpark Inc., an American Bitcoin mining company, reported that it had successfully bought a Bitcoin mining site in Wyoming. This was despite concerns raised by the White House about national security.
CleanSpark said in its July operational report, which came out on August 2, that it had signed power deals worth 75 MW in Wyoming and started hashing operations in Tennessee, which added 1 EH/s to its July hashrate. Zach Bradford, CEO of CleanSpark, talked about the progress and said that the company is still on track to reach its goal of 32 EH/s by the end of 2024.
“In Tennessee, we began hashing under our agreements with GRIID Infrastructure Inc. with 1 EH/s of additional hashrate added in July. We’re continuing our trajectory of growth as we progress towards our target of 32 EH/s by the end of the year,” Bradford said.
CleanSpark’s July Achievements
CleanSpark mined 494 Bitcoin (BTC) in July, which brings the total amount of crypto it has made in 2024 to 4,108 BTC. The company sold 2.54 BTC for an average of about $62,070 each during the month. At the end of the month, it had a working hashrate of 21.2 EH/s. The report says that CleanSpark had 7,082 BTC in its possession as of July.
Even though there were worries about national security before, the Wyoming site was bought. CleanSpark bought several mine sites in May from MineOne, a company with ties to China. The sites are close to Warren Air Force Base, which is home to strategic nuclear weapon systems.
President Joe Biden ordered an emergency stop to operations at the site because of the “presence of specialized and foreign-sourced equipment potentially capable of facilitating surveillance and espionage activities.” He said this was to protect American national security. The order also said that all crypto mining gear had to be taken away from within a mile of the military base.
Even with these worries, CleanSpark went ahead with the purchase. A company representative said that they were aware of the unexpected problems and reaffirmed CleanSpark’s dedication to following the rules and protecting national security.
The company’s bold move shows that it wants to grow its business and strengthen its place in the tough Bitcoin mining industry.
