• Bitcoin mining company Cleanspark has spent $43.6 million on 20,000 Antminer S19j Pro+ machines.
• The new purchase will add 2.44 EH/s to Cleanspark’s existing 6.6 EH/s of computing power.
• When they are completely functional, they will add 2.44 EH/s to Cleanspark’s existing 6.6 EH/s of computing power, bringing the company’s SHA256 hashpower to 9 EH/s.
Bitcoin Mining Firm Purchases $43.6M Worth of Mining Rigs
Bitcoin mining company Cleanspark has spent $43.6 million on 20,000 Antminer S19j Pro+ machines in order to increase their computing power by 2.44EH/s and bring their total hashing power up to 9EH/s when fully operationalized. The corporation was able to get a 25% discount using coupons which brought the final price down to $32.3 million for the rigs alone, with shipping expected by the end of this month.
Additional ASIC Miners Being Installed
In addition to the purchase mentioned above, the firm announced that they would be installing 15,000 additional ASIC miners at their Washington Georgia location as well as other US-based facilities in order to further increase their efficiency and reliability in resource allocation through proprietary mining or prop-mining model control over infrastructure and types of resources used for operations and maintenance purposes respectively.
Crypto Winter Impact
The crypto winter of 2022 had a significant impact on bitcoin miners but with a large increase in bitcoin prices this year it has helped turn things around for many companies such as Cleanspark who’s stock price is currently up 68%. Despite this announcement regarding the purchase of new rigs however CLSK stock still fell 4.78 percent versus the dollar on previous trading day due likely due to profit taking after recent gains in value across all cryptocurrency markets worldwide including BTC and ETH etcetera..
Quotes from CEO Zach Bradford
Zach Bradford, CEO of Cleanspark stated: “Building and owning our own mining campuses at multiple locations provides us with a level of agility and reliability that cannot be achieved otherwise… This is the advantage of proprietary mining or the ‘prop mining’ model… We exercise tremendous control over our infrastructure and, therefore, our ability to be highly efficient in the way we allocate our resources.”
Conclusion
In conclusion it can be seen that despite being hit hard by 2021’s crypto winter some companies have been able to bounce back thanks largely due an increase in bitcoin prices this year allowing them access more capital for investments into new technologies such as these ASIC miners which will help them become even more profitable moving forwards into next year if current market trends hold steady or continue upwards as many analysts predict they will do so long term for digital currency markets worldwide