Bitcoin Miner CleanSpark Works to Recover Operations Following Hurricane Helene Disaster
CleanSpark successfully restores operations after Hurricane Helene and mining facilities are expected to be fully operational by Oct. 4. (Photo By: Justin Sullivan/Getty Images)
- CleanSpark restored 200 MW of operational power at its 365 MW facility in Georgia following Hurricane Helene.
- Despite the hurricane, CleanSpark experienced no significant damage to its infrastructure or mining servers.
- The temporary shutdown due to the hurricane had a minimal financial impact on CleanSpark.
CleanSpark, a US-based Bitcoin mining company, has weathered Hurricane Helene’s wrath, overcoming the temporary disruption to its Georgia facility.
Despite the forced shutdown, the company has announced that it is actively working on getting back online, with mining activities already humming along once more.
CleanSpark Resumes Operations
After Hurricane Helene’s passage, CleanSpark has made rapid progress in restoring operations at its 365 MW Georgia facility. With 200 MW of power already back online, the company is on track to fully rejuvenate the remaining 165 MW by Oct. 4.
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CEO Zach Bradford expressed relief that “our team members are safe and sound.” He attributed the company’s ability to maintain a steady 10.5 EH/s hash rate throughout the storm to its strategically dispersed network of sites in Northwest Georgia, Mississippi, and Tennessee. As a precautionary measure, CleanSpark proactively shut down its 365 MW Southeast Georgia sites to ensure the well-being of both its personnel and the electrical grid.
CleanSpark worked closely with local utilities to safely restore power to its mining facilities while ensuring the community’s needs were met. Within 24 hours, the company restored the hash rate to over 17.5 EH/s.
Hashrate Expected To Increase
Following a thorough evaluation of its mining facilities, CleanSpark has confirmed that Hurricane Helene did not significantly damage any site infrastructure. The company’s mining servers are also operative, and the company has identified no material losses.
As CleanSpark continues to re-energize its sites, the company’s hashrate is currently at approximately 22 EH/s. Once all sites are fully operational, the hashrate will reach its standard level of 28 EH/s.
In recent months, CleanSpark has been dedicated to increasing its Bitcoin mining hash rate while optimizing energy consumption. The company’s ability to quickly recover from Hurricane Helene demonstrates its effective operational strategy and resilience in the face of challenges.
The swift restoration of mining activities ensures that CleanSpark can continue to generate revenue and maintain its competitive position in the highly competitive Bitcoin mining market. This recovery minimizes the financial impact of the temporary shutdown caused by the hurricane.
Previous Acquisitions
On Monday, Sept. 30, CleanSpark’s stock lost 7.8% in New York to $9,34. However, after the CEO comments on resuming operations, the stock started a positive trend. On Oct. 1, pre-market trading, it increased by 1.1% to $9,44.
Meanwhile, CleanSpark had some positive news to share before Hurricane Helene struck its facilities. The company announced the acquisition of two Bitcoin mining sites and adjacent land in Clinton, Mississippi, for a combined $5.8 million. These sites, currently under construction, will support 16.5 MW of mining capacity and are slated for completion by Dec. 1, 2024.
Once operational, the Mississippi sites will be equipped with S21 pro miners, boasting a combined operating hashrate of approximately one exahash per second (EH/s).
This expansion will bring CleanSpark’s total data center portfolio in Mississippi to 60.5 MW, underscoring the company’s ongoing commitment to growing its Bitcoin mining operations and cementing its position in the industry.
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