CleanSpark Boosts Mining Capability With New Equipment Price $145 Million

The US-based cryptocurrency miner – CleanSpark – bought 45,000 models of the Antminer S19 XP BTC mining machines for $144.9 million. 

The present computing energy of CleanSpark is 6.7 EH/s, whereas the set up of the brand new gear is anticipated to push it to 13 EH/s. 

Making ready for the Halving

Based on the deal, the producer will distribute 25,000 models in August, whereas the remaining 20,000 ought to arrive in September. CleanSpark plans to deploy all of them at its mining facility in Sandersville, Georgia. 

Zach Bradford – CEO of CleanSpark – stated the Antminer S19 XP is “essentially the most power-efficient bitcoin mining machine accessible available in the market at the moment” and raised hopes it should flip right into a “key element” for the corporate’s operations.

He defined that the multi-million buy and the supply of first-class equipment is a part of the agency’s technique previous to the Bitcoin halving that’s anticipated to happen within the spring of 2024. 

The pivotal occasion, decreasing the speed at which new cash are created, will minimize block rewards in half – from the present 6.25 BTC to three.125 BTC. Many consultants imagine the method will gasoline a worth surge of the first cryptocurrency, much like earlier events.

“As bitcoin’s halving attracts nearer, our give attention to operational effectivity, our technical experience, and our treasury administration technique will all play a vital function in solidifying CleanSpark’s place among the many high bitcoin mining firms in America,” Bradford stated.

The 45,000 new machines also needs to enhance the mining capability of the group to 13 EH/s by September 2023. Bradford argued that the crypto winter had given corporations an opportunity to accumulate trendy gear at an industry-leading worth:

“We now have chosen different models, such because the S19 jPro+, over the S19 XP up to now as a result of we believed the hole would shut on the delta between the ROI of different models and the XP. Our endurance has paid off.”

CleanSpark’s Mining Enlargement

The corporate acquired a website in Washington, Georgia, for $16.2 million in the summertime of 2022. It lately began enlarging the ability so it may possibly ultimately accommodate 16,000 miners. CEO Bradford is set that the growth will add 50 MW to the present 36 MW of infrastructure:

“This second part greater than doubles the scale of the present operation. We’re trying ahead to increasing our relationship with the Washington Metropolis group and to having the ability to assist the development jobs that may include this growth.”