by • CleanSpark Inc., a public Bitcoin mining company, has announced the purchase of 45,000 Antminer S19 XP bitcoin mining machines at a cost of $144.9 million.
• The machines will be deployed in multiple batches as they arrive on site and new rack-space becomes available, with all machines expected to be fully operational before year-end.
• In February, the company also purchased 20,000 miners with those machines already paid for and in the process of being delivered to its Washington facility.
CleanSpark Acquires New Bitcoin Mining Machines
CleanSpark Inc., a public Bitcoin mining company, has announced its purchase of 45,000 brand-new units of the Antminer S19 XP bitcoin mining machines, at a cost of $144.9 million. The company expects all units to be delivered by the manufacturer by the end of September, with a 95% increase in computing power once deployed according to a press release sent to Bitcoin Magazine.
Computing Power Increase
CleanSpark has approximately 15.9 EH/s of machines on hand or under contract for delivery this year, edging closer to its year-end guidance of 16 EH/s. The company will deploy all of the acquired units at its bitcoin mining facility in Sandersville, Georgia, which is currently undergoing a planned 150 MW expansion. The machines will be deployed in multiple batches as they arrive on site and new rack-space becomes available, with all machines expected to be fully operational before year-end.
Management Strategy
Zach Bradford CEO of CleanSpark stated that “As bitcoin’s halving draws closer our focus on operational efficiency our technical expertise and our treasury management strategy will all play a crucial role in solidifying CleanSpark’s position among the top bitcoin mining companies in America” Gary Vecchiarelli Clean Spark’s CFO added that “Securing XPs at these prices means we have one less variable in our capital expenditure equation and puts us well on our way to achieving our year-end guidance of 16 EH/s”
Mining with Low Carbon Energy Sources
According to the press release CleanSpark predominantly mines bitcoin with low carbon energy sources which account for over 90%of its energy mix and follows what it describes as “balanced capital management strategy” by selling some of its mined bitcoins to reinvest into growth
Additional Purchase Announced
This most recent miner purchase is an addition from twenty thousand machine purchases announced earlier this year February where those machines were fully paid for and are currently being delivered to their Washington facility These are expected to be energized later this quarter adding an additional 2 44 EH/S of miners into their operations hash rate
