Hurricane Helene wreaked havoc over the weekend, as the Category 4 hurricane brought high winds and torrential rain across the southeastern United States. At least 128 people have died, and more than 2 million are without power, according to CNN.
To prepare for Helene, bitcoin miner CleanSpark said it shut down 365 megawatts of its southeast Georgia sites last week. In a release Monday, the firm its brought approximately 200 MW back online and expects the remaining 165 MW to be restored by Friday, Oct. 4.
"Most importantly, all our team members are safe. Additionally, our geographically diverse portfolio of sites allowed us to maintain approximately 10.5 EH/s [exahashes per second] at our sites in Northwest Georgia, Mississippi, and Tennessee throughout the storm," the company said. CleanSpark said it evaluated all of its other sites and experienced no material damage to any site infrastructure, nor is it aware of any material losses related to mining servers.
The company said it was able to bring its hashrate back to over 17.5 EH/s within 24 hours of restoration. Its hashrate is currently at approximately 22 EH/s and when its sites are fully reenergized, it expects to reach standard operations at approximately 28 EH/s.
"[W] extend our deepest condolences to the communities, families, and individuals who have suffered loss, damage, and disruption due to this catastrophic event," CleanSpark said in the release. "We recognize the immense challenges faced by those in regions where the storm has left countless without power, water, and other basic necessities. The loss of life, including first responders who bravely served during this crisis, underscores the severity of Helene's impact. Our thoughts are with every person whose life has been altered by this hurricane."
CleanSpark has bought up several small mining sites across five states in recent months. It has set a target of 37 EH/s by the end of 2024 and 50 EH/s in 2025.
In a recent interview with Bernstein, CleanSpark CEO Zach Bradford said he expects bitcoin to reach a peak of just under $200,000 sometime in the next 18 months.
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