Simple Mining Acquires 8 MW Sphere 3D Bitcoin Mining Site In Iowa

Simple Mining has acquired an approximately 8 MW Bitcoin mining facility in Iowa from Sphere 3D, expanding the company’s Iowa infrastructure platform to nearly 160 MW. Financial terms of the acquisition were not disclosed.

The acquired facility supports approximately 2,200 latest-generation Bitcoin miners and immediately adds energized hosting capacity for Simple Mining customers.

Simple Mining operates a model in which customers purchase miners and host the equipment on infrastructure owned and operated by the company.

The newly acquired property will become part of Simple Mining’s existing network of Iowa sites and will operate under the same vertically integrated model.

Machine sales, hosting and repair services will be handled internally by Simple Mining’s team. Customers at the site will also gain access to the company’s dedicated ASIC repair operation and broader customer support organization.

The transaction continues a period of expansion for Simple Mining in Iowa as the company builds additional owned infrastructure to support customers looking to increase their Bitcoin mining capacity.

Simple Mining is also hiring across site operations, engineering and sales as it expands the platform.

KEY QUOTES:

“This acquisition adds fully energized, high-performing capacity to our platform from day one. It brings another site under the same operating standard we deliver to every customer.”

Adam Haynes, CEO of Simple Mining

“Our customers want more room to grow on infrastructure we own and operate, and this site delivers exactly that. Every megawatt we add in Iowa is capacity our customers can put to work.”

Nick Garland, Chief Operating Officer of Simple Mining