Cleanspark, a bitcoin mining company, has announced the purchase of 45,000 Antminer S19 XP bitcoin mining devices from Bitmain for $144.9 million. This acquisition will add 6.3 exahash per second (EH/s) of computational power to the company’s current 6.7 EH/s. The first delivery of 25,000 ASICs is expected in August, and the remaining 20,000 will be delivered in September. All of the new miners will be delivered to the company’s mining facility in Sandersville, Georgia, which is currently undergoing a 150-megawatt (MW) expansion.
Cleanspark’s CEO, Zach Bradford, stated that the new miners would play a crucial role in solidifying the company’s position among the top bitcoin mining companies in America. He also mentioned that the bear market has provided opportunities to maximize ROI, including the chance to purchase the industry’s best miner at an industry-leading price. This acquisition follows Cleanspark’s purchase of 20,000 Bitmain mining rigs in mid-February, which saved the firm millions through Bitmain coupons.
Bitcoin mining firms are once again making large purchases of application-specific integrated circuit (ASIC) bitcoin mining rigs after taking a brief break in 2022. The rise in bitcoin prices by more than 80% since the last day of 2022 has led to a surge in the global hashrate, surpassing the 400 EH/s range this year, while the network’s difficulty has also reached all-time highs. Cleanspark’s latest acquisition of 45,000 ASIC bitcoin miners is expected to further boost the company’s computational power.
Cleanspark’s focus on operational efficiency, technical expertise, and treasury management strategy will be crucial as bitcoin’s halving draws closer. The company’s latest acquisition is expected to help it maintain profitability and stay competitive in the mining industry. The new devices are expected to be fully operational by the end of 2023.
Cleanspark’s mining facility in Sandersville, Georgia, is committed to using renewable energy sources to power its mining operations. The company’s emphasis on sustainability and energy consumption is in line with the growing trend of using renewable energy in the cryptocurrency industry.
In conclusion, Cleanspark’s latest acquisition of 45,000 ASIC bitcoin miners is a significant move that will further boost the company’s computational power. The company’s focus on operational efficiency, technical expertise, and treasury management strategy will be crucial in maintaining profitability and staying competitive in the mining industry. The use of renewable energy sources in the company’s mining operations is also commendable and aligns with the growing trend of sustainability in the cryptocurrency industry.