On Thursday, Cleanspark, a publicly traded bitcoin mining company, announced that by acquiring 1,061 Whatsminer M30S bitcoin mining rigs, the company’s existing operations, adding 93 petahashis per second (PH/s) of hashing power to its operations, the company announced today. The ASIC acquisition follows Cleanspark’s recent deal to purchase 1,800 Antminer S19 XPs at an “exceptional discount.”
Cleanspark purchases two bulk orders of ASIC miners at a discounted price within 30 days
In the midst of the crypto market downturn, bitcoin mining company Cleanspark has purchased two bulk orders of bitcoin mining machines in the past 30 days. Cleanspark Inc. (Nasdaq: CLSK) announced on 1 January that the company has purchased 1,061 Whatsminer M30S bitcoin mining devices.The Whatsminer M30S series is manufactured by Microbt, and the 1,061 units are 93 petahasis per second (PH/s ) equivalent to hash power.
CleanSpark details that 93 PH/s has already been added to its existing operations and that the machines are currently miningBitcoin (BTC)at its renewable energy co-location facility. Zach Bradford, CEO of the bitcoin mining company, explained that the company has an “unprecedented opportunity in this market.” According to Clean Spark, the company managed to purchase Whatsminer machines for much less than the price the devices were selling for a few months ago.
The bitcoin mining company further stated that the 1,800 Antminer S19 XP bitcoin mining machines it acquired in mid-June were also purchased at a discounted price.After the acquisition of ASIC Devices, Bradford said, “We expanded our own mining facility Our tried-and-true hybrid approach of collocating machines while expanding our own mining facilities puts us in an excellent position to sustainably grow our bitcoin mining capacity in what is expected to be a great market for builders.”
Cleanspark Announces 50% Increase in its Bitcoin Production in 6 Months
As crypto winter and macroeconomic conditions have lowered Bitcoin’s value, struggling Bitcoin miners are discounting It is quite possible that large numbers of mining devices are being sold; at the end of June, the co-founder of Luxor Technologies estimated that $4 billion in loans backed by crypto mining rigs were very close to the risk of default. In addition, JPMorgan strategists led by Nikolaos Panigirtzogloureleased a noteon Wednesday that the cost of bitcoin production has been reduced from $24K at the start of June 2022 to an estimated $13K or so today.
Cleanspark disclosed that over the past six months, the company’s computing power has increased by 47% and the company’s bitcoin production has grown by 50%.” These key KPIs highlight the fact that our growth is outpacing global hash rates, especially our ability to stay ahead of network difficulty adjustments. We believe we can continue to improve these metrics with our operational strategy focused on efficiency, uptime, and execution,” Bradford added.
What do you think of Cleanspark’s purchase of 1,061 ASIC miners and its description of “unprecedented opportunity” in this bear market? Let us know your thoughts on this subject in the comments section below .
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