The new miners will contribute to the continued expansion of CleanSpark, just as the Bitcoin market increases.
CleanSpark Inc. has purchased 20,000 new Antminer S19j Pro+ units, the latest generation of bitcoin mining machines from Bitmain, for $43.6 million. After the coupons, the company will pay $32.3 million, according to the press release sent to Bitcoin Magazine.
This purchase is expected to expand the company’s bitcoin production capacity by 37%, adding 2.44 exhashes per second (EH/s) once installed. CleanSpark plans to deploy the fleet of new machines at its wholly owned bitcoin mining locations in the US, with 15,000 of them planned for its Washington, Georgia facility. There may be changes to that allocation, depending on the state of development of the site and the rate of fulfillment of the order by the manufacturer, the statement said.
Zach Bradford, CEO of CleanSpark, said: “Building and owning our mining campuses across multiple locations gives us a level of agility and reliability that can’t be achieved any other way. As the machines are delivered to us, we will have rack space waiting for them. at once”. of our sites. This is the advantage of proprietary mining or the ‘prop mining’ model. We exert tremendous control over our infrastructure and therefore our ability to be highly efficient in how we allocate our resources.”
CleanSpark’s capital management strategy includes selling a significant portion of its mined bitcoins to reinvest in growth, which manifests in the form of these expansions. The Pro+ is more energy efficient and 22% more productive than the popular Antminer S19j Pro model and will ship in batches, with deliveries starting next month. All lots are expected to be delivered to the company’s mining campuses by the end of May 2023.
