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clean spark has purchased 45,000 units of Antminer S19 XP BTC mining machines for $145 million.
Once installed at their mining facility in Sandersville, Georgia, they expect the new equipment to increase CleanSpark’s computing power from 6.7 EH/s to 13 EH/s. The manufacturer will deliver 25,000 units in August, with another 20,000 arriving in September.
45,000 Antminer S19 XP from CleanSpark to prepare for the next halving
CleanSpark, the leading Bitcoin mining company in the US, plans to increase its mining capacity by purchasing 45,000 new machines. The company aims to capitalize on the upcoming Bitcoin halving event, which will halve the rate of new coin creation, increasing demand for the cryptocurrency.
🏗️ Today we announce the doubling of our #bitcoin mining capacity with a $144.9 million expansion deal, bringing us closer to our year-end guidance of 16 EH/s.
– Purchase of 45,000 new Antminer S19 XP #btc mining machines for our site in Sandersville, GA
– Will add 6.3… pic.twitter.com/fZHo1EhmVC— CleanSpark Inc. (@CleanSpark_Inc) April 11, 2023
According to CleanSpark CEO Zachary Bradford, the company’s technical expertise and treasury management strategy will play a vital role in cementing its position among the top Bitcoin mining companies in the US. Bradford also emphasized that the recent crypto winter allowed the company to obtain modern equipment at a competitive price.
They expect the acquisition of the new machines to increase CleanSpark’s mining capacity to 13 EH/s by September 2023, further strengthening their position in the crypto mining industry.
The company recently began expanding the facility, adding 50 MW to the existing 36 MW infrastructure. CleanSpark CEO Zachary Bradford is optimistic about the expansion and its potential to create jobs in the Washington city community. He said the second phase of the expansion would more than double the size of the existing operation and that the company is eager to support the construction work that will result from this growth.
CleanSpark Expands Georgia Mine Facility with State-of-the-Art Technology
CleanSpark broke ground on the second phase of its Washington, Georgia, facility to house 16,000 miners in early 2023. They expect the mining team to increase their total hash rate by as much as 13 EH/s. The fleet of mining machines included the latest and most energy efficient models, the Antminer S19j Pro and the Antminer S19 XP.
In addition, CleanSpark will increase its computing power by 25-34% by adding 50 MW to its existing 36 MW infrastructure. Bradford expressed confidence in the expansion project following the acquisition of the site. They expect the new phase to be completed by late spring and more than double the size of the current operation.
Bradford also highlighted the company’s commitment to supporting the construction work that will come with the expansion and looked forward to strengthening its relationship with the Washington city community.
The struggling mining market has led to Many companies declare bankruptcy. and more are expected to follow this year. However, despite the recession, CleanSpark has increased its hash rate. They achieved this by selling a significant portion of their mined BTC and reinvesting the proceeds into growth, following a capital management strategy.
CleanSpark has also committed to using mainly renewable or low carbon energy sources for its mining operations. Its Georgia site, for example, uses primarily low-carbon energy sources and employs state-of-the-art technology, making it one of the most energy-efficient and sustainable Bitcoin mining operations.
The state’s relatively low energy prices and abundant solar and nuclear power have attracted a number of miners recently, allowing them to promote themselves as green and sustainable.
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