CleanSpark Inc. has significantly expanded its Bitcoin mining operations with the acquisition of four new facilities.

The company invested a total of $26.7 million in facilities across Mississippi and Georgia, which will boost its hash rate by 3.2 EH/s.

With the upcoming Sandersville expansion, CleanSpark anticipates doubling its operating hash rate to 20 EH/s by the first half of 2024.

The acquisitions strategically position CleanSpark ahead of the Bitcoin halving event in April 2024, which reduces mining rewards.

Following the announcement, CleanSpark's stock rose by 12%, indicating strong investor confidence in the company's growth.

CleanSpark plans to purchase up to 160,000 next-generation miners and to start its own trading desk in 2024.

The company's expansion comes during a time of increased scrutiny of Bitcoin mining in the US, as energy consumption data is being collected.