CleanSpark (CLSK), the largest Bitcoin mining company on the public markets, just purchased its competitor, GRIID Infrastructure, in a deal worth $155 million in stock. 🚀 With this acquisition, CleanSpark gains an additional 20 megawatts (MW) of power for its mining operations and is expected to add another 400 MW in Tennessee in the next two years.

Zach Bradford, CEO of CleanSpark, said this acquisition will pave a clear and steady path over the next three years to achieve what they have achieved in Georgia. GRIID shares fell more than 50% after this announcement, while CLSK shares rose 4%.

CleanSpark is not the only mining company to announce an acquisition recently. Since May, Riot Platforms (RIOT) has been trying to take over Bitfarms (BITF), offering to buy the company for $2.30 per share.

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