CleanSpark Inc (NASDAQ: CLSK) has entered a new agreement with Coinmint. It is a deal that gives the company the green light to deploy about 25 MW of its highly efficient Bitmain S19 Pro miners in one of Coinmint’s locations.
CleanSpark reveals a plan to deploy about 750 PH/s in hashrate capacity, and it will embark on its activities in July at Coinmint’s facility in Massena, New York. Coinmint wishes to be a significant contributor in offering support to the hashrate, and has thus committed itself to the provision of 25 MW of power. The other forms of support include the commitment of a 98% uptime and operational support.
It has set a high bar in terms of expectations. It hopes that the agreement will enable it to increase its overall hashrate across all Bitcoin mining locations to 1.2 EH/s rapidly. Furthermore, it believes that its contributions will do a lot to support CleanSpark towards maximizing its Bitcoin production without causing any interference in the company’s ESG-based mining philosophy.
Need for carbon-free sources of energy
Coinmint is widely known as the operator behind the biggest private digital currency data center globally. Its primary source of energy is hydroelectric power. However, it aspires to get to a point where it utilizes an energy mix that ensures minor carbon emissions. It is currently working with something that is 94% carbon-free.
An outlook at most of its operations shows it as a company that focuses on all aspects of corporate governance (“ESG”), environmental, and social. It is working towards achieving sustainability and also the creation of many job opportunities within the community.
Coinmint CFO Michael Maloney opines, “Space and power for mining is in high demand, but we choose our partners carefully, we selected CleanSpark as a partner due to their alignment on ESG and sustainable mining practices.”