Business
CleanSpark Buys 12,500 Antminer S19 XP Bitcoin Miners for $40.5M
Total hashrate of deployed machines and those under contract for delivery now exceeds CleanSpark’s year-end guidance of 16 EH/s LAS VEGAS, June 01, 2023
About this update from Cleanspark, Inc.
[{"type":"text","content":"Total hashrate of deployed machines and those under contract for delivery now exceeds CleanSpark’s year-end guidance of 16 EH/s\nLAS VEGAS, June 01, 2023 (GLOBE NEWSWIRE) -- CleanSpark Inc. (Nasdaq: CLSK), America’s Bitcoin Miner™, today announced a purchase of 12,500 brand-new units of the Antminer S19 XP bitcoin mining machine for a total price of $40.5 million, or $23 per terahash ($/TH), which is lower than the current average market price. The Antminer S19 XP units have a power-efficiency rating of 21.5 joules per terahash (J/TH) and a bitcoin mining compute power (or hashrate) of 141 terahash per second (TH/s) each, for a combined total hashrate of 1.76 exahashes per second (EH/s). According to the purchase agreement, 6,000 of the 12,500 machines are scheduled to be shipped by the manufacturer in June, while the remaining 6,500 machines are set for shipping in August. The units are expected to be deployed across the Company’s state-of-the-art mining facilities. “This purchase ensures that we are prepared to meet and potentially exceed our year-end target of 16 EH/s and also positions us to be one of the most power-efficient miners on an energy-per-hashrate basis,” said Zach Bradford, CEO of CleanSpark. “This additional machine purchase also gives us substantial optionality to replace the units in our existing fleet that consume more than 30 joules per terahash while allowing us to maintain less efficient machines only if the economics support doing so.” This purchase is the latest in a series of discounted machine purchases and other acquisitions made by CleanSpark since the crypto bear market began. The Company purchased 20,000 brand-new Antminer S19j Pro+ units for $13.15/TH in the month of February, all of which have been fully paid for. CleanSpark also purchased 45,000 brand-new Antminer S19 XP units for $23/TH in April, and has since made significant progress on the payment schedule as it works to build one of the most efficient bitcoin mining fleets in the world. “We continue to make use of opportunities created by the current market conditions to prepare for next year’s bitcoin halving,” said Gary A. Vecchiarelli, CFO at CleanSpark. “This order of XPs not only adds to our hashrate, but the efficiency of these machines also results in less power consumed per bitcoin mined compared to older generation miners, which sh...