Business
CleanSpark Acquires Contract for Best-in-class Mining Machines, Partners with TMGcore to Expand Immersion-cooled Operations
CleanSpark has secured the fastest and most power-efficient bitcoin mining machines at a significantly discounted price—along with immersion-cooling
About this update from Cleanspark, Inc.
[{"type":"text","content":"CleanSpark has secured the fastest and most power-efficient bitcoin mining machines at a significantly discounted price—along with immersion-cooling infrastructure\nLAS VEGAS, June 16, 2022 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK) (the “Company”), a sustainable bitcoin mining and energy technology company, today announced it has taken over an existing purchase contract for 1800 Antminer S19 XP units as it continues to expand its infrastructure. Once fully deployed, the machines are expected to add over 252 petahashes per second (PH/s) to the Company’s bitcoin mining capacity. Further, the company announced a partnership with TMGcore Inc., a global leader in the development, commercialization and deployment of high performance computing solutions, which includes ASIC mining applications, to expand its immersion-cooled infrastructure for sustainable mining. As per the acquired contract, the Antminer S19 XP machines will start arriving at CleanSpark's facilities sometime in August, and shipping will continue through the next six months. The contract was brokered by Cryptech, a leading US-based supplier of cryptocurrency mining machines and longtime partner of the Company. “We were able to secure the contract at an exceptional price because of our strategic relationships and the unique circumstances that current market conditions have created,” said CEO Zach Bradford. “Our infrastructure-first approach has given us substantial opportunities in the face of ever-changing market conditions, ultimately positioning us to deliver incredible value to our shareholders as we continue the important work of securing the bitcoin blockchain.” Underscoring the Company’s commitment to the sustainable future of bitcoin mining, CleanSpark has concurrently secured cutting-edge immersion-cooling infrastructure from TMGcore, the Home of Immersion™. The new partnership with TMGcore includes 257 units of TMGcore’s proprietary immersion-cooled tanks that are specifically designed to improve the performance of mining machines while substantially decreasing their failure rates over long term use. Each tank fits 28 Antminer S19j Pro mining machines. The units will be deployed in batches at the Company’s College Park, GA, property and other locations as determined. The alliance also provides CleanSpark with 2 megawatts (MW) of colocation capacity a...