CleanSpark Expands Bitcoin Mining Fleet with Major Antminer Purchase

CleanSpark’s Bold Move

In an ambitious leap to expand its mining capabilities, CleanSpark has acquired 20,000 new Antminer S19j Pro+ units, ringing in at a substantial $43.6 million. This strategic purchase is set to enhance the company’s computing power by an impressive 37%, bringing the total units acquired during this bear market to a whopping 46,500. Talk about a mining power-up!

Pricing That Speaks Volumes

On February 16th, CleanSpark chirped about the financials: after applying a 25% discount courtesy of coupons, they are set to cough up only $32.3 million for these machines. This translates to about $13.25 per terahash (TH). That’s like buying a fancy coffee but getting the whole café – and then some!

Rigs That Pack a Punch

The Antminer S19j Pro+ units boast productivity levels 22% better than their predecessors. Talk about some serious tech upgrades! Delivery is scheduled in batches from March to May, allowing the excitement to build – or, as we like to call it, the anticipation of every Bitcoin miner’s dream come true.

Weathering the Crypto Storm

CleanSpark is capitalizing on the drops in rig prices while Bitcoin’s price appears to be on the upswing again. As per the Hashrate Index, the current price per TH of ASICs mimicking similar efficiencies sits at around $15.09 — noticeably lower from the dizzy heights of $90.72 just a year ago. The company points out the Antminer S19j Pro+ machines as being a cut above the rest in ROI potential. Now, who doesn’t want a better bang for their mining buck?

Future Projections

Once the new machines are fully operational, they’re expected to add a staggering 2.44 EH/s to CleanSpark’s existing 6.6 EH/s, bringing their total to approximately 9 EH/s. In terms of sheer computing prowess, it’s a game changer! And to top it all off, 15,000 units from this order will find a home at the company’s locations in Washington, Georgia, which recently saw a hefty $16 million expansion aiming for an increase of 2.2 EH/s in total hash rate.

A Look Back at 2022

Reflecting on the crypto landscape, 2022 was a bumpy ride with Bitcoin prices plummeting and the electricity bill feeling like a moon landing. Yet, in January 2023, CleanSpark increased its production by an astonishing 50%, hitting a record monthly production of 697 BTC. It’s heartening to see a silver lining emerge from the skewed clouds of January, as other notable players such as Core Scientific, Riot, and Marathon also enjoyed similar boosts thanks to stable electricity prices.