Mawson Infrastructure Group, a digital infrastructure provider, announced that it would be selling off one of its Georgia bitcoin mining facilities and focus on its Pennsylvania bitcoin mining facilities.
The company said the sale of its Sandersville, Ga., bitcoin mining facility and more than 6,400 bitcoin miners to CleanSpark for up to $42.5 million will allow it to focus on expanding its Midland and Sharon bitcoin mining facilities in Pennsylvania. The total energy capability at the Pennsylvania facilities is 220 megawatts.
“We have thoroughly enjoyed working with the CleanSpark team on this transaction and look forward to working closely with them going forward,” Mawson Founder and CEO James Manning said. “We now intend to focus our attention on the continued development of our Pennsylvania and Texas facilities, where we see the opportunity for compelling returns on capital. We would like to sincerely thank the City of Sandersville for welcoming us into their community and being high-quality partners over the last several years.”
Combined with its Texas facilities, the Pennsylvania bitcoin mining facilities will help the company operate at approximately 12.0 Exahash of self-mining and hosting co-locations across 360 megawatts of energy capacity.
Mawson said it plans to use the proceeds from the sale to CleanSpark to reduce debt and further expand its self-mining and hosting co-location businesses in the United States. The company said the sale is expected to close in early October, subject to certain earn-out commitments.
“We are pleased to welcome Mawson’s Sandersville site and its operating teams into the CleanSpark family,” said Zach Bradford, CEO of CleanSpark. “The site is nothing but impressive—well-run by over 20 dedicated professionals who have taken significant pride in the design, development, and maintenance of the site. We are enthusiastic about Georgia and believe that our expansion there will continue to build value for our shareholders and the communities we operate in throughout Georgia.”