CleanSpark, a Bitcoin (CRYPTO:BTC) miner, has finalised a $155 million all-stock acquisition of GRIID Infrastructure.
This merger includes assuming GRIID's debts and providing additional financial support.
The deal also secures an exclusive hosting agreement and is projected to add more than 400 megawatts (MW) of power capacity to CleanSpark's operations over the next few years.
With plans to expand significantly in Tennessee, CleanSpark aims to reach 200 MW by 2025 and exceed 400 MW by 2026, potentially powering up to one gigawatt of data center operations.
CleanSpark's stock, CLSK, saw a 2.2% rise on the news, reflecting investor optimism amid its strategic expansion efforts.