CleanSpark bought 12,500 miners from Bitmain for $40.5 million

CleanSpark Acquires 12,500 Bitmain Bitcoin Miners for $40.5M
CleanSpark Acquires 12,500 Bitmain Bitcoin Miners for $40.5M

The American company CleanSpark announced the purchase of 12,500 new ASIC miners for bitcoin mining Antminer S19 XP from Bitmain for $40.5 million.

The equipment cost $23 per TH/s, which is below the market price, the firm stressed.

According to the agreement, the manufacturer will ship 6,000 miners in June, the remaining 6,500 in August.

Deploying a batch of installations will add approximately 1.76 EH/s to the company’s hashrate. According to CleanSpark CEO Zack Bradford, this will bring the company closer to reaching the 16 EH/s goal.

However, he clarified that some of the new miners will be used to replace obsolete devices with energy efficiency below 30 J/TH. Antminer S19 XP has 21.5 J/TH.

“We continue to use the opportunities created by the current market conditions to prepare for the Bitcoin halving next year. This XP order will not only increase our hash rate, but also result in less energy consumption per BTC mined compared to older generation miners, which will bring more profit,” said the firm’s CFO Gary Vecchiarelli.

He noted that the company has already paid half the cost of the batch.

In February, CleanSpark bought 20,000 Antminer S19j Pro+ devices. In April, the firm announced the acquisition of 45,000 Antminer S19 XP for a total of $144.9 million.

The company operates five mining facilities, four of which are located in the state of Georgia, one in New York. The CleanSpark equipment fleet is 67,700 miners with a hashrate of 6.7 EH/s.

Recall that the company announced plans to bring the average energy efficiency of equipment to 26 J/TH from the current figure of 31 J/TH.

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