The new miners will help CleanSpark’s continued expansion, just as the Bitcoin market is accelerating.
CleanSpark Inc. has purchased 20,000 new Antminer S19j Pro+ units, the latest generation of bitcoin mining machines from Bitmain, for $43.6 million. After coupons, the company will pay $32.3 million, according to the press release sent to Bitcoin Magazine.
This purchase is expected to increase the company’s bitcoin production capacity by 37%, adding 2.44 exahashes per second (EH/s) once installed. CleanSpark plans to deploy the fleet of new machines at its wholly-owned bitcoin mining sites in the United States, with 15,000 planned for its Washington, Georgia facility. There may be changes to this allocation, depending on the site’s development status and the pace of order fulfillment by the manufacturer, the statement said.
Zach Bradford, CEO of CleanSpark, said, “Building and owning our mining campuses across multiple sites gives us a level of agility and reliability that cannot be achieved otherwise. As the machines are delivered to us, we will have a rack waiting for them at one of our sites. This is the advantage of proprietary mining or the “prop mining” model. We exercise considerable control over our infrastructure and therefore our ability to be very efficient in how we allocate our resources. »
CleanSpark’s capital management strategy includes selling off much of its mined bitcoin to reinvest in growth, manifesting in the form of these expansions. The Pro+ is more energy efficient and 22% more productive than the popular Antminer S19j Pro model and will ship in batches, with deliveries starting as early as next month. All batches are expected to be delivered to the company’s mining campuses by the end of May 2023.