Bitcoin Miner Cleanspark Acquires 3,853 Bitmain-Made BTC Mining Rigs for $5.9 Million

On Nov. 1, 2022, the bitcoin miner Cleanspark revealed it acquired 3,853 Bitmain-brand Antminer S19J Pro mining rigs for $5.9 million. According to Cleanspark, the corporate has bought 26,500 bitcoin mining machines for the reason that crypto winter began in June.

Cleanspark Purchases 3,853 Antminer S19J Pro Units at $15.50 per Terahash

After the bitcoin (BTC) mining firm Cleanspark (Nasdaq: CLSK) mentioned its complete hashrate exceeded 5 exahash per second (EH/s), the agency explained it could elevate its year-end objectives to five.5 EH/s by the yr’s finish. Every week later, Cleanspark disclosed that the bitcoin mining agency has acquired a brand new batch of mining rigs for $5.9 million or $15.50 per terahash. The bitcoin mining firm bought a complete of three,853 Antminer S19J Pro items, a mining rig that produces roughly 96 terahash per second (TH/s) per machine.

“This most up-to-date buy demonstrates how CleanSpark continues to execute in distressed markets,” the CEO of Cleanspark, Zach Bradford, mentioned on Tuesday. “Our unwavering deal with sustainability has offered us with a powerful stability sheet and working technique that has allowed us to amass machines at unbelievable costs, develop our hashrate, and improve our every day bitcoin manufacturing in anticipation of market circumstances enhancing over the following a number of months.”

Cleanspark says that at first of the bear market in June, it was in a position to purchase a complete of 26,500 mining rigs. Today, the corporate has a complete of 4 operational websites and about 50,000 mining rigs working. With the 50K machines, the corporate has tapped “a every day manufacturing excessive of 19.2 bitcoin.” The firm’s current strikes through the crypto winter come at a time when bitcoin miners are feeling excessive ache as Bitcoin’s hash worth reached an all-time low in October.

For occasion, a submitting with the U.S. Securities and Exchange Commission (SEC), filed on Oct. 26, 2022, exhibits that Core Scientific has been discussing the opportunity of restructuring. Core Scientific’s shares have been downgraded after the SEC submitting hinted at a attainable chapter. In addition to the troubled Core Scientific, Chapter 11 bankruptcy protection filings printed on Sept. 22, have proven Compute North can be coping with monetary points.

After surpassing 5 EH/s and noting that it plans to up its hashpower by 10%, Cleanspark detailed on Tuesday that it expects to satisfy the corporate’s 2023 year-end objectives because it goals to acquire 22.4 EH/s.

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