Business
CleanSpark Announces Purchase of 20,000 New Latest Generation Mining Machines
Latest Purchase Expected to Expand Company’s Bitcoin Production Capacity by 37%, Adding 2.44 Exahashes per Second (EH/s) Once Installed; Total Number of
About this update from Cleanspark, Inc.
[{"type":"text","content":"Latest Purchase Expected to Expand Company’s Bitcoin Production Capacity by 37%, Adding 2.44 Exahashes per Second (EH/s) Once Installed; Total Number of Machines Purchased During the Bear Market Now Exceeds 46,500\nLAS VEGAS, Feb. 16, 2023 (GLOBE NEWSWIRE) -- CleanSpark Inc. (Nasdaq: CLSK) (“CleanSpark'' or the “Company”), America’s Bitcoin Miner™, today announced a purchase of 20,000 brand new Antminer S19j Pro+ (plus) units, a newly released model of the latest generation of bitcoin mining machines, for $43.6 million. After coupons, the Company expects to pay $32.3 million, for a discount of 25% or a total price per terrahash of approximately $13.25. The Pro+ is more power-efficient and 22 percent more productive than the popular Antminer S19j Pro model and will be shipped in batches, with deliveries starting as early as next month. All batches are expected to be delivered by the manufacturer to the Company’s mining campuses by the end of May. After they are fully operational, they are expected to add 2.44 EH/s to CleanSpark’s existing 6.6 EH/s of bitcoin mining computing power (for a total of 9 EH/s), constituting a 37% increase. CleanSpark plans to deploy the fleet of new machines at its wholly-owned bitcoin mining locations in the USA with 15,000 of them planned for its Washington, Georgia, facility which it acquired in August and is undergoing a planned 50 MW expansion. Depending on the state of development of the site and the pace of order fulfillment by the manufacturer, the Company may redirect a portion of the 15,000 units to one of its other facilities. “Building and owning our own mining campuses at multiple locations provides us with a level of agility and reliability that cannot be achieved otherwise,” said Zach Bradford, CEO of CleanSpark. “As machines are delivered to us we will have rackspace waiting for them at one of our sites. This is the advantage of proprietary mining or the ‘prop mining’ model. We exercise tremendous control over our infrastructure and, therefore, our ability to be highly efficient in the way we allocate our resources.” The Antminer S19j Pro+, and other models in the same ASIC-generation as the higher-priced S19 XP, continue to be more attractive to the Company in the current market conditions than the XP because of their better return on investment. Furthermore, the S19j Pro+ delivers 122...