09:55 AM EDT, 09/11/2024 (MT Newswires) -- CleanSpark ( CLSK ) said Wednesday that it has agreed to acquire seven bitcoin mining facilities in Tennessee for a total of $27.5 million in cash.

The bitcoin mining company said it expects the new facilities to increase its current hashrate by more than 22%. It said the seven sites total 85 MW and range in size from 10 MW to 20 MW, and that it now expects to reach 37 exahashes per second by the end of the year

CleanSpark ( CLSK ) said the acquisitions are expected to close by Sept. 25. Shares of the company were down 6% in recent trading.

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