Benzinga | Sep 16, 2021 09:01AM EDT

CleanSpark Joins With Partnership Gwinnett To Announce $145M In Capital, Human Investments

CleanSpark, Inc. (NASDAQ:CLSK) (the "Company" or "CleanSpark"), a sustainable bitcoin mining and diversified energy company, joined Partnership Gwinnett to announce expected capital and human investments of nearly $145 million over the next five years at CleanSpark's data center in Norcross, Georgia.

The $6.55 million purchase of the former Sprint/Nextel data center, announced earlier in August, is expected to bring 20 skilled and highly skilled jobs to the community, at an average yearly wage of approximately $50,000. CleanSpark expects the facility to be operational by late 2021.

CleanSpark is working with Partnership Gwinnett because of the organization's substantial role in the county and surrounding area. Partnership Gwinnett is supported by over one hundred companies, municipalities, and educational institutions to strengthen Gwinnett County's diverse economy and ability to compete in the global marketplace.

"Gwinnett County's momentum as a major player in job creation is distinct," said Gwinnett County Chairwoman Nicole Hendrickson. "With CleanSpark coming to Norcross, it means economic stability in a workforce tailored to providing solutions to modern energy challenges."

In addition to direct upgrades to the facility, CleanSpark is partnering with Georgia Power to invest in a $2 million power expansion. Improvements are expected to benefit power customers and community members living near CleanSpark's new facility. The Company will also participate in Georgia's Simple Solar program and anticipates the addition of onsite renewables, solar installations, and other microgrid energy solutions. The mining operations are expected to be 100 percent carbon neutral.

"We believe bitcoin mining can make a positive contribution to the neighborhoods we operate in," said Zach Bradford, CleanSpark CEO and President. "We are committed to being socially and environmentally responsible partners and are proud to work with Partnership Gwinnett as we grow our relationships with other businesses and governmental organizations in Georgia."

Over the next five years, CleanSpark's community investment is expected to include:



* $7.5 million in property investment

* $132 million in equipment & hardware investments

* $4.1 million in people

* 20 highly skilled and skilled jobs, ~$50,000 average annual wage

* $2 million investment in power expansion with Georgia Power

* Expectation of 100% net carbon-neutral





"We are delighted to add another company into the fold that reflects our commitment to sustainability," said Norcross Mayor Craig L. Newton. "We are also exceptionally honored that such an innovative and forward-looking corporation as CleanSpark intentionally selected Norcross as home to its newest data center. Economic viability and environmental stability are directly tied together, and Norcross is fortunate that a growing number of companies recognize our dedication to both. We look forward to welcoming CleanSpark and the many jobs it will bring to our city later this year."

Partnership Gwinnett also worked with Gateway 85 CID.

"Gateway85 CID and Partnership Gwinnett have been working hard to attract innovative companies like CleanSpark to the district," said Emory Morsberger, executive director -- Gateway85 CID. "We're thrilled to have a company not only focused on solving today's energy challenges, but also adding more jobs to our economic base."

Deven Cason, Director of Business Retention and Expansion, represented Partnership Gwinnett in conjunction with the Metro Atlanta Chamber and Georgia Power on the project.

"In Gwinnett County, we are focused on technological innovation and creating an environment of advancement," said Cason. "We are excited to welcome CleanSpark to Norcross and Gwinnett County."