Cleanspark Increases Bitcoin Mining Capacity with Acquisition of 20,000 Bitmain Rigs
Cleanspark, a Bitcoin mining company, has purchased 20,000 new Bitmain mining rigs at a cost of $43.6 million. Cleanspark plans to increase its capacity by 37% once the rigs are installed. The firm will add approximately 2.44 exahash per seconds (EH/s), to its fleet.
Cleanspark CEO: Proprietary Mining Model Gives Company More Control and Efficiency
Cleanspark, a publicly traded bitcoin mining company (Nasdaq : CLSK), announced that it has acquired 20,000 Antminer S19jPro+ units for $43.6million. According to Cleanspark, the company used coupons to save 25%, bringing settlement down to $32.3million.
According to the bitcoin miner, the machines will be delivered by May’s end. Once fully operational, the machines will add 2.44 EH/s computational power to Cleanspark’s current level of 6.6 EH/s. This will result in a total of 9 EH/s SHA256 hashpower.
Cleanspark CEO Zach Bradford stated that “Building and owning our mining campuses at multiple locations gives us a level of agility, reliability, and reliability that cannot otherwise be achieved,” in a statement sent by Bitcoin.com News. “As soon as the machines arrive, we will have rackspace ready for them at one our sites.”
Cleanspark’s executive added:
This is the benefit of proprietary mining, or the ‘propmining’ model. We have a lot of control over our infrastructure, which allows us to be extremely efficient in how we allocate our resources.
Cleanspark announced that it will deploy 15,000 ASIC miners at its Washington, Georgia facility. Some of the ASICs could be redirected to other locations within the United States. While bitcoin miners experienced difficulties in 2022 due to the “crypto winter,” mining operations have been able to benefit from the significant rise in bitcoin (BTC), prices in 2023.
Cleanspark shares have fallen 33.4% in the last six months, but have increased 68.66% over the year. CLSK shares fell 4.78% against U.S. dollars in the last 24 trading hours despite the acquisition news. CLSK closed the day at $3.39 per Share on Thursday afternoon Eastern Time, after Wall Street trading ended on February 16, 2023.
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