Bitcoin mining operation Cleanspark has acquired 20,000 new Bitmain mining rigs for $43.6 million, the company reports. Once installed, Cleanspark expects to increase its capacity by 37% by adding roughly 2.44 exahashes per second (EH/s) to the company’s fleet.
Cleanspark CEO Says Proprietary Mining Model Offers Greater Control and Efficiency
Cleansparkis a publicly traded bitcoin mining company ( Nasdaq: CLSK) announced that it has acquired 20,000 Antminer S19j Pro+ units for $43.6 million. The company said it used a 25% savings coupon, bringing the total value down to $32.3 million at settlement.
Bitcoin miners said the mining machines are expected to be delivered at the end of May. When fully operational, it will add 2.44 EH/s to CleanSpark’s current 6.6 EH/s of computing power, bringing the total SHA256 hash power of the bitcoin mining company to 9 EH/s.
“Building and owning our own mining campuses in multiple locations gives us a level of agility and reliability that we cannot otherwise achieve.” CleanSpark CEO Zach Bradford said in a statement sent to Bitcoin.com News.” Once the machines are delivered to us, we have rack space waiting for them at one of our sites.”
Cleanspark executives added:
This is the advantage of our proprietary mining or “prop mining” model. We exercise great control over our infrastructure and thus the ability to be very efficient in the way we allocate our resources.
CleanSpark said it will deploy 15,000 application-specific integrated circuit (ASIC) miners at its Washington, Georgia facility. Some of the new ASICs may be redirected to the company’s other locations in the United States. Bitcoin miners had a difficult time during the “crypto winter” in 2022, but mining operations are benefiting from a significant improvement inbitcoin (BTC)prices in 2023.
CleanSpark’s stock price has fallen 33.4% over the past six months, but is up 68.66% since the beginning of the year. Despite news of the acquisition, CLSK shares fell 4.78% against the U.S. dollar in the last 24 hours of trading; at the close of trading on Wall Street on February 16, 2023, CLSK closed the day at $3.39 per share on Thursday afternoon Eastern time.
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