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CleanSpark Acquires 4.4 EH/s of New Antminer S21 Bitcoin Miners; Expects to Achieve Hashrate of over 20 EH/s
The machines, the most efficient to ever hit the market, are expected to start arriving in January 2024 CleanSpark's mining fleet is expected to average 23.5
About this update from Cleanspark, Inc.
[{"type":"text","content":"The machines, the most efficient to ever hit the market, are expected to start arriving in January 2024\nCleanSpark's mining fleet is expected to average 23.5 joules per terahash (J/TH) once all machines are deployed\nLAS VEGAS, Oct. 11, 2023 /PRNewswire/ -- CleanSpark Inc. (Nasdaq: CLSK), America's Bitcoin Miner™, today announced it has purchased 4.4 exahashes per second (EH/s) of the recently announced Antminer S21 bitcoin mining machines. The acquisition continues CleanSpark's track record as one of the largest, most efficient publicly traded bitcoin miners in North America.\n\n \n \n \n \n \n \n\n \n\"The new machines should increase our capacity and drive down energy costs per bitcoin mined,\" said Zach Bradford, CEO.With an efficiency rating of 17.5 joules per terahash (J/TH), the S21 is nearly 20% more efficient than the XP, which had previously been the most efficient bitcoin miner available in the market.\n\"Integrating the S21 into our mining operations is in line with our commitment to using the most efficient mining technology,\" said Zach Bradford, CEO. \"The efficiency of the S21 should not only increase our capacity but should also drive down energy costs per bitcoin mined, enhancing our competitive edge within the global mining landscape. Importantly, our scale has positioned us with strong bitcoin production at solid margins, and as a result we expect to fund the majority of the purchase through operating cashflows.\"\nThe machines, with deliveries set to begin in January 2024, were purchased with favorable terms, including 20% seller-based financing of the total purchase price ($12.35 million or $2.80/TH), which is not due for 365 days after the machines are delivered. The new machine is expected to continue to reduce power consumption per bitcoin mined, thereby improving the Company's margins while supporting its dedication to being wise stewards of the energy it consumes. \nOnce all machines are installed and hashing, the Company expects to reach an operational efficiency of 23.5 joules per terahash for a 17.25% improvement over CleanSpark's already above-average operational efficiency of 28.4 joules per terahash.\nCleanSpark continues to rank among the top in terms of hashrate realization rate of publicly traded bitcoin mining companies.\nAbout CleanSpark\nCleanSpark (Nasdaq: CLSK) is America's Bitcoin Miner...