Clean Spark will buy Antminer S21 Bitcoin miners at 4.4 EH/s

How does Bitcoin mining work?
How does Bitcoin mining work?

The American mining company CleanSpark will acquire Bitmain’s recently introduced Antminer S21 bitcoin mining rigs with a total hashrate of 4.4 EH/s.

Equipment deliveries will begin in January 2024. The company noted that they agreed on a deal on favorable terms. They include seller financing of 20% of the total purchase price ($12.35 million or $2.8 per TH/s). The loan repayment period will be 365 days after the devices are handed over.

Clean Spark expects that after all miners are put into operation, the company’s hashrate will exceed 20 EH/s.

“The efficiency of S21 should not only increase our power, but also reduce energy costs per bitcoin mined […]. As a result, we expect to fund the majority of the acquisition through operating cash flows,” said company CEO Zach Bradford.

The energy consumption of the new Bitmain miner is 17.5 J/TH, which is almost 20% lower than the S19 XP.

By deploying a new batch of equipment, the company expects to improve the overall energy efficiency of the fleet from the current 28.4 J/TH to 23.5 J/TH – by 17.25%

Based on the stated funding figures, the transaction amount will be $61.75 million, and the devices will cost Clean Spark $14 per TH/s.

In early October, an Australian bitcoin miner announced the purchase of 7,000 units of Antminer S21 from Bitmain for $19.6 million, also at $14 per TH/s. The Chinese manufacturer provided the company with an annual payment deferment of $2.9 million.

According to the Hashrate Index, market quotes for devices with energy consumption levels of less than 25 J/TH at the time of writing are $15.95 per TH/s.

Let us remind you that the media reported that Bitmain failed to pay part of the salaries to all employees in September.

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