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Crypto News

Cleanspark Secures Competitive Edge With 45,000 New Bitcoin Mining Devices

Author

Jay Solano

Tags

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Reading time

2 mins
Last update

cleanspark bitcoin mining

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Cleanspark, a company that mines bitcoin, said on Tuesday that it had bought 45,000 Antminer S19 XP bitcoin mining machines for a total of $144.9 million. Cleanspark said that the new fleet would add 6.3 exahash per second (EH/s) to the company’s current 6.7 EH/s of computing power.

Cleanspark Bolsters Bitcoin Mining Operations With $144.9 Million Antminer Purchase

After a short break in 2022, bitcoin mining companies are buying a lot of application-specific integrated circuit (ASIC) bitcoin mining rigs again this year. Cleanspark, a company that mines bitcoin, said on April 11, 2023, that it had bought 45,000 new Antminer S19 XP machines from Bitmain, the biggest ASIC maker. The first 25,000 ASICs will be delivered in August, and in September, the last 20,000 will be sent out.

Cleanspark said that all of the new miners would be sent to Sandersville, Georgia, to the company’s mining facility. The site, which is in Georgia, is expanding by 150 megawatts (MW) right now. Cleanspark also said that the new miners would add 6.3 EH/s to the company’s fleet, which already has 6.7 EH/s of computing power. By the end of 2023, all of the new devices should be up and running.

Zach Bradford, CEO of Cleanspark, emphasized the importance of operational efficiency, technical expertise, and treasury management strategy in securing the company’s position as one of the top bitcoin mining firms in America as the halving of bitcoin approaches. Bradford further noted that the current bear market had presented opportunities for maximizing return on investment, including the chance to acquire the best miner in the industry at a highly competitive price.

In 2022, Bitcoin miners had a challenging year, but 2023 has thus far been a different story. Since December 31, 2022, bitcoin (BTC) prices have increased by more than 80 percent. In turn, Bitcoin’s global hashrate has increased, surpassing 400 EH/s this year, and the network’s difficulty has also reached all-time highs. The recent purchase of 45,000 ASIC bitcoin miners by Cleanspark follows the company’s mid-February purchase of 20,000 Bitmain mining machines. Cleanspark stated at the time that it utilized Bitmain coupons that saved the company millions of dollars.