An American Bitcoin miner acquired 3,843 mining machines
- Amid bearish market conditions, America’s Bitcoin Miner announced the acquisition of 3,843 units of bitcoin mining machine.
- The total number of machines purchased since June now exceeds 26,500.
BTC Miner, CleanSpark announced its new purchase as “Happy November!” on November 2, 2022. It has added that NASDAQ listed stock, CleanSpark Inc (CLSK) has acquired 3,843 more latest generation bitcoin miners instead of the bearish market phase. This brings the number of units purchased since June to over 26,500.
CleanSpark Inc. has purchased Antminer S19J Pro bitcoin miners for $5.9 million, or about $15.50 per terahash.
It must be noted that Bitcoin Mining is the process by which new bitcoins come into circulation. And bitcoin miners have highly specialized computers used to mine bitcoins.
CleanSpark’s acquisition
In the press release, Zach Bradford, CEO and President of CleanSpark Inc. said that “This latest purchase demonstrates how CleanSpark continues to execute in distressed markets.”
The CEO further mentioned the company’s plan when he added “Our unwavering focus on sustainability has given us a strong balance sheet and operating strategy that has allowed us to acquire machines at incredible prices, increase our hash rate and increase our daily bitcoin production in anticipation of of market conditions improving over the next few months.”
On October 11, 2022, CleanSpark completed the acquisition of an 80MW bitcoin mining facility in Sandersville, Georgia, which included nearly 6,500 mining machines.
Following the acquisition, Mr Bradford said “Mawson has built a world-class facility, staffed by an incredible team, and we look forward to continuing their work in Sandersville, ultimately building this site to its full 230MW potential as we working towards our guidance by the end of 2023 of 22.4 EH/s.”
Furthermore, on September 7, 2022, the company purchased 10,000 brand new Bitmain Antminer S19j Pro units, to expand the company’s bitcoin mining capacity by 1EH/s at a significantly discounted price.
“During the end of the bull market last year, we strategically focused on building infrastructure rather than following the then industry trend of pre-ordering equipment months in advance,” said Zach Bradford.
Additionally, on August 9, 2022, the company acquired a 36MW facility in Washington, Georgia, which included 3,400 machines, for approximately $8.9 million.
“We are excited to expand our footprint in Georgia. We look forward to maintaining and growing jobs and infrastructure at our new campus in Washington.” said Mr. Bradford.
After all this acquisition, the firm expects to meet its 2023 year-end of 22.4 EH/s.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional money exchange systems. She is also fascinated by blockchain technology and its function.
