CleanSpark completes purchase of six-acre property which houses ATL Data Centers and the data center building

CleanSpark Inc. (NASDAQ:CLSK) said it has completed the purchase of the six-acre property which houses ATL Data Centers LLC and the 41,387 square foot data center building. As a part of the transaction in December of 2020, CleanSpark acquired the existing Bitcoin mining ‘mobile data centers’ within the facilities. The company said it is in the process of expanding the number of mobile units deployed on-site in support of its focus on maximizing value and minimizing operating expense.  A purchase option for the building and site was included in the original lease agreement at closing, and the resulting purchase transaction was finalized May 20, 2021, at a price of $4.71 million. Obtaining ownership of the property will save the company over $50,000 per month in rent resulting in a reduction of overhead and expenses by more than 20% in our mining segment. READ: CleanSpark buys modern Bitcoin mining rigs to increase mining rate and energy efficiency CleanSpark said it will leverage the additional acreage to add renewables on-site and to maximize the value of its substantial power purchase agreement. Each of these steps are in support of the company’s disclosed intention to reach carbon neutrality at the facility in 2022, demonstrating what is believed to be the lowest cost/cleanest mix of any American Bitcoin miner operating at scale. In a statement, CleanSpark president and CEO Zach Bradford commented: “Ownership of the real estate at the data center location provides the flexibility for expansion within the massive footprint of the property. The strategy will incorporate the addition of energy storage and renewables to the previously announced new facilities to be completed on site, the future home of CleanBlok.”  He added: “We believe that these steps significantly enhance the net-asset-value of the facility, further adding to the benefit to all of our stakeholders.” Based in Bountiful, Utah, CleanSpark has developed software to help companies and homes become more energy-efficient, and is also big in bitcoin mining. The company designs and builds microgrids while providing engineering, consulting and turn-key implementation services. It also offers software for energy monitoring and system controls. Contact the author at jon.hopkins@proactiveinvestors.com