BTC company executes 75 MW power contracts and buys the first site in Wyoming.
The company expects to add over 2 EH/s to its hashrate.
CleanSpark
(NASDAQ: CLSK), the second biggest Bitcoin (BTC) producer on Wall Street by market capitalization,
announced today (Thursday) the execution of 75 megawatts (MW) of power
contracts and the acquisition of its first Bitcoin mining site in
Wyoming. This move marks an expansion of the company's operations into a third US
state.
CleanSpark Expands Bitcoin
Mining Footprint with Wyoming Acquisition
The initial
30 MW facility, located in Cheyenne, is set to be a fully immersion-cooled data
center. CleanSpark expects this site to contribute over 2 exahashes per second
(EH/s) to its overall hashrate once operational. The company plans to break
ground immediately, with operations projected to commence before the end of
2024.
“We
are thrilled to expand in a state so publicly supportive of our industry,” Zach
Bradford, CEO of CleanSpark, stated. “Working together with local, state and
national leaders, CleanSpark plans to grow its footprint beyond Cheyenne,
throughout the beautiful state of Wyoming.”
This is not
the only consolidation in the cryptocurrency mining market recently. As
reported by Finance Magnates a week ago, Riot Platforms (NASDAQ: RIOT), the
third-largest BTC miner by market capitalization on Wall Street, acquired
Kentucky-based Block Mining for $92.5 million.
“America’s
Bitcoin Miner,” as CleanSpark refers to itself, intends to deploy the latest
S21 immersion XP Bitcoin mining machines at the Cheyenne facility. They are
touted as the most powerful and efficient in the current market. Additionally,
CleanSpark is actively working to increase the available power at this site to enhance operational capacity further.
Second Site on-Site
With the
energy contracts now in place, CleanSpark is moving forward with the
acquisition of a second site in Wyoming. This additional location is expected
to bring 45 MW of power online and contribute an extra 3 EH/s to the company's
hashrate.
This
expansion brings CleanSpark's owned-and-operated Bitcoin mining portfolio to
three states, encompassing twelve data centers in Georgia, three in
Mississippi, and now one in Wyoming. The company also maintains co-location
operations in Tennessee and New York.
The move
into Wyoming aligns with recent developments in the state. They included the
University of Wyoming's announcement of a Bitcoin Research
Institute and Senator Lummis's introduction of the BITCOIN
Act. This highlights the state's growing support for the cryptocurrency
industry.
Challenges for Crypto
Miners in 2024
CleanSpark’s
recent move to acquire a new Bitcoin mine has not markedly influenced its stock
performance on NASDAQ. The stock market shows a broader negative pattern
affecting cryptocurrency mining companies in 2024, as investors continue to
divest from their stocks.
Marathon
Digital Holdings, the largest crypto miner by market cap at $5.8 billion, has
seen its shares fall by 16% this year. Another key player, Hut 8, has
experienced a 7% decline. Last week, Finance Magnates disclosed that
Marathon faced a $138 million penalty after a jury found it guilty of contract
violations.
Despite
this trend, Riot Blockchain maintains a significant presence in the market with
a valuation of $3.4 billion, positioning it just below CleanSpark, which boasts
a market cap of nearly $3.8 billion.
Amidst the
prolonged “crypto winter” and following the 2024 halving event,
mining companies are exploring alternative uses for their extensive data center
capabilities. As Bitcoin mining yields diminish, these firms are increasingly
pivoting to support more resource-demanding sectors such as artificial
intelligence and cloud services.
CleanSpark
(NASDAQ: CLSK), the second biggest Bitcoin (BTC) producer on Wall Street by market capitalization,
announced today (Thursday) the execution of 75 megawatts (MW) of power
contracts and the acquisition of its first Bitcoin mining site in
Wyoming. This move marks an expansion of the company's operations into a third US
state.
CleanSpark Expands Bitcoin
Mining Footprint with Wyoming Acquisition
The initial
30 MW facility, located in Cheyenne, is set to be a fully immersion-cooled data
center. CleanSpark expects this site to contribute over 2 exahashes per second
(EH/s) to its overall hashrate once operational. The company plans to break
ground immediately, with operations projected to commence before the end of
2024.
“We
are thrilled to expand in a state so publicly supportive of our industry,” Zach
Bradford, CEO of CleanSpark, stated. “Working together with local, state and
national leaders, CleanSpark plans to grow its footprint beyond Cheyenne,
throughout the beautiful state of Wyoming.”
This is not
the only consolidation in the cryptocurrency mining market recently. As
reported by Finance Magnates a week ago, Riot Platforms (NASDAQ: RIOT), the
third-largest BTC miner by market capitalization on Wall Street, acquired
Kentucky-based Block Mining for $92.5 million.
“America’s
Bitcoin Miner,” as CleanSpark refers to itself, intends to deploy the latest
S21 immersion XP Bitcoin mining machines at the Cheyenne facility. They are
touted as the most powerful and efficient in the current market. Additionally,
CleanSpark is actively working to increase the available power at this site to enhance operational capacity further.
Second Site on-Site
With the
energy contracts now in place, CleanSpark is moving forward with the
acquisition of a second site in Wyoming. This additional location is expected
to bring 45 MW of power online and contribute an extra 3 EH/s to the company's
hashrate.
This
expansion brings CleanSpark's owned-and-operated Bitcoin mining portfolio to
three states, encompassing twelve data centers in Georgia, three in
Mississippi, and now one in Wyoming. The company also maintains co-location
operations in Tennessee and New York.
The move
into Wyoming aligns with recent developments in the state. They included the
University of Wyoming's announcement of a Bitcoin Research
Institute and Senator Lummis's introduction of the BITCOIN
Act. This highlights the state's growing support for the cryptocurrency
industry.
Challenges for Crypto
Miners in 2024
CleanSpark’s
recent move to acquire a new Bitcoin mine has not markedly influenced its stock
performance on NASDAQ. The stock market shows a broader negative pattern
affecting cryptocurrency mining companies in 2024, as investors continue to
divest from their stocks.
Marathon
Digital Holdings, the largest crypto miner by market cap at $5.8 billion, has
seen its shares fall by 16% this year. Another key player, Hut 8, has
experienced a 7% decline. Last week, Finance Magnates disclosed that
Marathon faced a $138 million penalty after a jury found it guilty of contract
violations.
Despite
this trend, Riot Blockchain maintains a significant presence in the market with
a valuation of $3.4 billion, positioning it just below CleanSpark, which boasts
a market cap of nearly $3.8 billion.
Amidst the
prolonged “crypto winter” and following the 2024 halving event,
mining companies are exploring alternative uses for their extensive data center
capabilities. As Bitcoin mining yields diminish, these firms are increasingly
pivoting to support more resource-demanding sectors such as artificial
intelligence and cloud services.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
MoonPay Lands AUSTRAC Registration for Aussie Crypto Services
Transformation in the APAC Trading Landscape and Beyond | FMPS:24
Transformation in the APAC Trading Landscape and Beyond | FMPS:24
As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
#fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
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As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
#fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
#fmps #fmps24 #fmevents #ATFXConnect #APACFinance #InstitutionalTrading #FinancialTechnology #MarketExpansion
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
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🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage.
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In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
#fmps #fmps24 #fmevents #ATFXConnect #APACFinance #InstitutionalTrading #FinancialTechnology #MarketExpansion
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Ready to Scale? Regtech in Australia, A Global View | FMPS:24
Ready to Scale? Regtech in Australia, A Global View | FMPS:24
In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
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Don't miss out on our latest videos, interviews, and event coverage.
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In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
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Resilience in Trading: From Third Class To World Class | FMPS:24
Resilience in Trading: From Third Class To World Class | FMPS:24
Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
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Don't miss out on our latest videos, interviews, and event coverage.
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Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
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IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24
IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24
For most brokers, IBs and trading educators are invaluable partners, driving highly targeted traffic from key regions. However, without proper management, these relationships can quickly turn sour. In this session, gain an insider’s perspective on the types of licenses IBs need in APAC, the crucial details in IB agreements that both parties must scrutinize, common disputes between IBs and brokers and effective resolutions, and the pros and cons of transitioning from IB to broker.
Speakers:
Melody Gao, Senior Lawyer, Sophie Grace
James Perry-Keene, Head of Strategic Partnerships, Pepperstone
Christopher Balanzategui, CEO, N3tworx
#fmps #fmps24 #fmevents #IBAgreements #BrokerPartnerships #TradingIndustry #APACFinance #FinancialRegulation
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For most brokers, IBs and trading educators are invaluable partners, driving highly targeted traffic from key regions. However, without proper management, these relationships can quickly turn sour. In this session, gain an insider’s perspective on the types of licenses IBs need in APAC, the crucial details in IB agreements that both parties must scrutinize, common disputes between IBs and brokers and effective resolutions, and the pros and cons of transitioning from IB to broker.
Speakers:
Melody Gao, Senior Lawyer, Sophie Grace
James Perry-Keene, Head of Strategic Partnerships, Pepperstone
Christopher Balanzategui, CEO, N3tworx
#fmps #fmps24 #fmevents #IBAgreements #BrokerPartnerships #TradingIndustry #APACFinance #FinancialRegulation
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