Bitcoin mining company Cleanspark has purchased 20,000 brand new Bitmain mining rigs for $43.6 million, the company reported. Once installed, Cleanspark expects to increase its capacity by 37%, adding approximately 2.44 exahashes per second (EH/s) to the company’s fleet.
The CEO of Cleanspark says that the proprietary mining model gives the company greater control and efficiency
Cleanspark, the publicly traded bitcoin mining company (Nasdaq: CLSK), has announced that it purchased 20,000 Antminer S19j Pro+ units for $43.6 million. The company stated that it used coupons that saved it 25%, bringing the total price down to $32.3 million at settlement.
Cleanspark expects to send 15,000 application-specific integrated circuits (ASIC) miners to its mining facility in Washington, Georgia.
The Bitcoin miner said the mining machines are expected to be delivered by the end of May. When fully operational, they will add 2.44 EH/s to Cleanspark’s current 6.6 EH/s of computational power, resulting in a total of 9 EH/s SHA256 hashpower for the bitcoin mining company.
“Building and owning our own multi-site mining campuses gives us a level of agility and reliability that cannot be achieved otherwise,” Cleanspark CEO Zach Bradford said in a statement sent to Bitcoin.com News. “When the machines are delivered to us, we will have rack space waiting for them at one of our facilities.”
The Cleanspark CEO added:
This is the advantage of the proprietary mining or ‘prop mining’ model. We exercise enormous control over our infrastructure and therefore our ability to be highly efficient in the way we allocate our resources.
Cleanspark stated that it will deploy 15,000 application-specific integrated circuits (ASIC) miners at its facility in Washington, Georgia. Some of the new ASICs may be redirected to the company’s other locations in the United States. Bitcoin miners had a difficult time in 2022 during the “crypto winter”, but mining has benefited from the significant improvement in bitcoin (BTC) prices in 2023.
Cleanspark shares have fallen 33.4% over the past six months, but are up 68.66% year-to-date. Despite the acquisition news, CLSK shares traded down 4.78% against the US dollar during the last 24 hours of trading. At the close of Wall Street trading on February 16, 2023, CLSK ended the day at $3.39 per share Thursday afternoon Eastern Time.
What are your thoughts on Cleanspark’s recent acquisition of 20,000 Bitmain Antminers? Let us know what you think about this topic in the comments section below.
Jamie Redman
Jamie Redman is the news editor at Bitcoin.com News and a financial technology journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
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