Bitcoin mining company CleanSpark acquires major mining site in Cheyenne

Las Vegas-based Bitcoin mining company CleanSpark has acquired a major mining site in Cheyenne, the company announced Thursday, which comes in tandem with power

Las Vegas-based Bitcoin mining company CleanSpark announced Thursday that it has acquired a major mining site in Cheyenne, along with power purchase agreements for up to 75 Megawatts, roughly the energy needed to power 50,000 residential homes.

The site is expected to be operational by the end of the year and will feature a state-of-the-art computing facility deploying Bitmain S21 immersion XP machines, which the company touts as the most efficient mining systems available.

It's the latest in the company’s steady expansion, and marks its entry into its third U.S. state, adding to its existing operations in Georgia and Mississippi where it currently manages 12 data centers, as well additional co-owned locations in Tennessee and New York. CleanSpark is a growing force in the world of mining, with 7,082 Bitcoin holdings, and $1.54 billion in total assets, according to an investor report released Friday.

The acquisition is part of the Cowboy State's deepening relationship with the crypto-economy, and comes on the heels of the University of Wyoming's launch this week of the Bitcoin Research Institute, the first academic institute dedicated specifically to Bitcoin.

“We are thrilled to expand in a state so publicly supportive of our industry,” CleanSpark CEO Zach Bradford said in a statement.

Zakary Sonntag is an Energy & Environment reporter for the Star-Tribune. He can be reached at zakary.sonntag@trib.com