Introducing CleanSpark’s Bold Move
On April 11, CleanSpark made headlines by investing in 45,000 Antminer S19 XP rigs, a move that could reshuffle the Bitcoin mining industry. For a shiny price tag of $144.9 million, this purchase is set to crank their mining output up a notch.
The Power of Antminer S19 XP
The exciting part? These are not just any mining machines. The Antminer S19 XP is touted as the most power-efficient option on the market. With this acquisition, CleanSpark is expecting to add a whopping 6.3 exahashes per second (EH/s) of mining power to its already impressive 6.7 EH/s capacity.
Timeline for Delivery
Antminer’s factory workers are probably rushing to meet their September deadline as 25,000 of these ASICs will arrive in August, followed by the remaining 20,000 the next month. All units will be deployed at their Sandersville facility in Georgia, which is currently expanding its power capabilities by 150 megawatts.
CEO’s Vision and Goals
Zach Bradford, the CEO of CleanSpark, expressed his commitment to sustainable and efficient mining when he stated, “The Antminer S19 XP is the most power-efficient bitcoin mining machine available in the market today, and a key component in our continuing work to build some of the most efficient bitcoin mining facilities in the country.” CleanSpark reports that over 90% of its mining operations use low-carbon energy, marking a significant step toward greener operations in the crypto world.
Financials and Future Plans
As of the end of 2022, CleanSpark boasted total assets of $486.8 million against total liabilities of $59.8 million. The firm has ambitious plans to hit a hash rate of 16 EH/s by the end of 2023, proving that even in a bear market, they see a silver lining and opportunities to maximize their return on investment.
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