CleanSpark Inc., a Salt Lake City-based software and energy controls technology company, has agreed to acquire ATL Data Centers LLC of College Park, Georgia. for up to $19.4 million in shares of the company’s common stock. ATL provides traditional data center services plus bit mining, cloud services and managed mobile data storage capabilities.
The purchase represents the first strategic acquisition as part of a larger growth plan following CleanSpark’s recent receipt of a $40 million investment, the company said. “ATL creates a unique business opportunity as a full-scale, profitable demonstration facility for the company,” a CleanSpark release said. Ultimately, CleanSpark envisions the facility will feature a real-time web-based view of power and dollar savings generated by CleanSpark’s technology, offering clients a unique opportunity to see demonstrated savings in a real-world, power-intensive application.
“As part of our strategic acquisition initiative, we identified energy-intensive companies facing the greatest amount of exposure to high power costs and resiliency risk,” said Zachary Bradford, CleanSpark’s CEO. “Our prior experience in the digital currency mining industry provided insight into how proper energy management was crucial to successful and profitable mining operations.”