On November 1, reportedCointelegraph, CleanSpark, a U.S.-based Bitcoin mining firm, announced that its mining capacity has now increased by 50 megawatts by acquiring GRIID, a US-based infrastructure company. This development propels the company closer to its long-term goal of establishing 400 megawatts of production capacity over the next few years.
U.S. Senator Bill Hagerty lauded the addition of CleanSpark to Tennessee, noting that the state is a “great place to grow your business” as it has rapidly positioned itself as “one of the epicenters of the U.S. Bitcoin industry.” In September of this year, CleanSpark agreed to purchase seven mining sites and nearby land in the Knoxville area of Tennessee, boosting the company’s computing power by 22%. The firm also reported in its recently released fiscal year report that its computing capability jumped by 187% over the last 12 months.