CleanSpark Continues Expansion Of Bitcoin Mining With 3,843 More ASIC Miners

CleanSpark today announced the purchase of 3,843 Antminer S19J Pro bitcoin mining equipment for $5.9 million, or about $15.50 per terahash, bringing the Company’s total number of machines purchased since the bear market began to over 26,500.

The company recently purchased two facilities from other owners, as well as over 16,000 machines at a reduced price.

Zach Bradford, CleanSpark CEO, said in a statement:

“This most recent purchase demonstrates how CleanSpark continues to execute in distressed markets.

Our unwavering focus on sustainability has provided us with a strong balance sheet and operating strategy that has allowed us to acquire machines at incredible prices, grow our hashrate, and increase our daily bitcoin production in anticipation of market conditions improving over the next several months.”

CleanSpark completed the purchase of an 80MW plant in Sandersville, Georgia, in October, which contained approximately 6,500 mining equipment. The company purchased 10,000 brand-new Bitmain Antminer S19j Pro devices in September.

In August, the company purchased a 36MW plant in Washington, Georgia, with 3,400 machines.

On the other hand, Bitcoin miners are currently in financial trouble, Core Scientific proposed bankruptcy last week, claiming that it will be unable to pay its payments by the end of the month. Argo Blockchain revealed on Monday that a funding agreement had fallen through, causing its shares to drop about 50%.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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