Bitcoin Miner CleanSpark Buys 12,500 Bitmain Machines for $40.5M


CleanSpark (CLSK) has bought one other 12,500 bitcoin mining rigs for $40.5 million, the most recent in a sequence of purchases throughout the market stoop, in keeping with a Thursday press launch.

The machines will add 1.76 exahash/second (EH/s) of computing energy, or hashrate, to CleanSpark’s operations, bringing them nearer to their goal of 16 EH/s for the tip of 2023. As of the tip of April, the agency’s hashrate stood at 6.7 EH/s.

The primary 6,000 Bitmain Antminer S19 XP machines will likely be shipped by the producer in June, and the rest in August, the press launch mentioned.

CleanSpark has been shopping for belongings from distressed miners throughout the crypto bear market that has seen a quantity main mining corporations declare chapter or in any other case restructure. In April, as an illustration, the miner bought 45,000 Antminer S19 XPs – sufficient to double its hashrate – and in February, it acquired 20,000 rigs at a 25% low cost.

Nonetheless, the low cost on the acquisition introduced at present is sort of non-existent. The machines had been purchased at a value of $23 per terahash (TH) versus a market price of $23.27 on Might 31, in keeping with mining providers agency Luxor Applied sciences.

Learn extra: Bitcoin Mining Earnings Wrap: Marathon Shares Underperform After New SEC Subpoena

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