CleanSpark Purchases 45k Mining Rigs Worth $145M

According to a recent post, cryptocurrency miner CleanSpark paid $144.9 million for 45,000 Antminer S19 XP BTC mining rigs.

CleanSpark to Distribute 25k Rigs in August

The agreement states that the producer will be distributing 25,000 rigs in August and that the remaining 20,000 units would ship in September. 

All the mining rigs will be put to use by the corporation at its mining plant in Sandersville, Georgia. By September 2023, the 45,000 new machines should increase the organization’s mining capacity to 13 EH/s.

CEO Zach Bardford Aims to Capitalize on Bitcoin Halving

The CEO of CleanSpark, Zach Bradford, stated that the Antminer S19 XP is “the most power-efficient bitcoin mining machine available in the market today” and expressed hope that it will become a “key component” for the business’ operations.

He clarified that the company’s goal before the anticipated Bitcoin halving in the spring of 2024 includes the multi-million dollar acquisition and delivery of top-notch gear. 

He said:

“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.”

Crypto Winter Presented Better Deals

Bradford said that businesses have the opportunity to purchase cutting-edge equipment at an industry-leading price because of the crypto winter. 

“We have chosen other units, such as the S19 jPro+, over the S19 XP in the past because we believed the gap would close on the delta between the ROI of other units and the XP. Our patience has paid off,” the CleanSpark executive added.

A Bold Decision

The sale of new mining equipment may decline as cryptocurrency values decline, which might have an impact on the entire sector. 

But in the midst of the present crypto winter, when miners are struggling due to the drop in Bitcoin values and the high cost of electricity, CleanSpark has made a bold decision. Despite market issues, it declared in February that it would like to buy further mining properties.