• CleanSpark has purchased 12,500 bitcoin miners for $40.5 million.
• The machines will add 1.76 exahash/second (EH/s) of computing power to CleanSpark’s operations.
• This is the latest purchase during the market slump and follows a series of acquisitions from distressed miners.
CleanSpark Buys 12,500 Bitcoin Miners
CleanSpark (CLSK) has announced that it has purchased 12,500 Bitmain Antminer S19 XP machines for $40.5 million. The machines will add 1.76 exahash/second (EH/s) of computing power to CleanSpark’s operations and bring them closer to their target of 16 EH/s by the end of 2023.
Market Slump Leads To Discounts
The firm has been busy scooping up assets during the crypto bear market, with discounts available on purchases as major mining firms declare bankruptcy or restructure themselves financially. In April, for instance, the miner purchased 45,000 Antminer S19 XPs at a 25% discount off market rates and in February acquired 20,000 rigs at a similar discount rate.
Machines Delivered In June & August
Bitmain will be shipping 6,000 of the machines in June and the remainder in August according to a Thursday press release from Clean Spark. Prices are currently around $23 per terahash (TH), but they may be higher due to models having an efficiency rating of 21.5 J/TH rather than under 25 J/TH which was marketed on May 31st by Luxor Technologies as quoted in the press release.
Target Of 16 EH/S by End Of 2023
The machines bought by Clean Spark are part of their plan to reach their goal hashrate capacity of 16 EH/s before the end of 2023 which would double their current hashrate capacity standing at 6.7 EH/s as reported at the end of April this year according to an earlier press release by CLSK back then..
Conclusion
Clean Spark continues to acquire assets during this period with discounts being made available as larger mining firms struggle financially due to market volatility in bitcoin prices recently seen over 2021 so far – making it an ideal time for smaller miners like CLSK who can take advantage and make some savings while building up resources needed for success later down the line when markets improve again in future times ahead once more..