The Block Crypto News24 minutes ago

Published on June 27, 2024 15:39 GMT+00:00edited on June 27, 2024 15:44 GMT+00:00

The crypto miner CleanSpark has entered an agreement to purchase GRIID Infrastructure, a Bitcoin mining firm.

CleanSpark will purchase all of GRIID's issued and outstanding stock in the deal for a total value of $155 million, according to a release from CleanSpark. The deal also means an "exclusive hosting agreement for all currently available power" resulting in CleanSpark obtaining 20 MW of production power. 

CleanSpark CEO Zach Bradford said in a statement that the firm's Tennessee operations are expected to exceed 100 MW by the end of the year and has a target of 400 MW operational power by 2026. 

"This acquisition would give us a clear and steady path over the next three years to accomplish in Tennessee what we proudly achieved in Georgia over the past three years," said …