Vecchiarelli said the company’s latest acquisition has already been paid for by existing cash reserves and is expected to almost immediately start generating revenue. CLSK shares are trading higher on Friday continuing the stocks upward momentum from recent sessions. In June, the company acquired another fleet of 12,500 S19 XPs for $23/TH ($40.5 million), of which 6,000 are scheduled to arrive this month.ĬleanSpark CFO Gary A. It later purchased 45,000 S19 XPs in April for $23/TH, or roughly $144 million, after which it used some of its existing machines to collateralize a loan to buy even more equipment. To that end, CleanSpark has already spent more than $200 million buying new rigs this year.īack in February, CleanSpark bought 20,000 S19J Pro+s machines for $13.15 per terahash ($/TH)-a total of $43.6 million. įor Bitcoin miners, keeping their business profitable is very much about increasing hashrate and keeping facility costs, like energy and maintenance, down. The former machine boasts a power efficiency of 21.5 joules per terahash (J/TH), making it among the most efficient machines available according to Hashrate Index. The new facilities will consist of 6,000 Antminer S19 XPs and S19J Pro+ mining rigs ordered by CleanSpark earlier this year. “It also continues to position us as one of the most power-efficient miners on an energy-per-hash rate basis.” “This acquisition ensures that we have more than enough infrastructure to reach our year-end target of 16 EH/s,” said Zach Bradford, CEO of CleanSpark, in a press release. On May 31, Compass Mining inked a deal with hosting provider Arthur Mining to open a new facility in Ohio.$0.167974 -1.89% Terra Classic (Wormhole) The increases were due to the transaction fee spike during the BRC-20 memecoin minting craze that peaked in early May. “A 47% year-over-year increase in our hash rate was offset by a 65% increase in network difficulty in the same period,” said Chief Mining Officer Ben Gagnon.Ĭipher Mining announced a record production in May with 493 BTC mined. In other recent company updates, Bitfarms announced that it had mined 459 BTC in May, increasing production by 6.5% year-on-year. In February, CleanSpark purchased 20,000 brand-new Antminer S19j Pro+ units and in April it added 45,000 S19 XP ASIC rigs to its fleet. The company has continued its expansion despite declining Bitcoin mining profitability, which has declined to $0.071 per TH/s per day, down 44% over the past 12 months and 82% since the crypto market peak in late 2021, according to Hashrate Index. The Bitcoin mining company kicked off the second phase of its mining campus in Georgia, gearing up for the next.
According to its website, the firm has 67,700 mining machines in operation and has mined 2,395 BTC year-to-date. “This purchase ensures that we are prepared to meet and potentially exceed our year-end target of 16 EH/s.”ĬleanSpark’s mining farms are located in Georgia. The network hash rate was also near its peak level at 395 EH/s on May 30.ĬleanSpark’s purchase agreement stipulated that 6,000 machines are scheduled to be shipped by the manufacturer in June, and the remainder will be shipped in August.Īntminer S19 XP units have a hash rate of 141 TH/s, with the combined purchase providing an additional total hash rate of 1.76 exahashes per second to its current 6.7 EH/s. The news comes as Bitcoin mining difficulty reached an all-time high of over 50 trillion on June 1, putting further pressure on miners. The deal worked out at $23 per terahash per second (TH/s), which is lower than the average market price. With the crypto winter and the macroeconomic climate cutting bitcoin’s value down, it’s quite possible that distressed.
On June 1, American Bitcoin mining firm CleanSpark announced that it had purchased 12,500 brand-new Antminer S19 XP units for $40.5 million. The company provides investment services to firms participating in the blockchain field and also creates in-vitro substances. Cleanspark Says Company’s Bitcoin Production Grew by 50 in 6 Months.
Crypto mining firm CleanSpark has been aggressively expanding its fleet of mining machines this year, despite mining profitability being far from its all-time highs.ĭespite a 44% decline in Bitcoin mining profitability over the last year, some Bitcoin mining companies have continued to build and increase production, according to recent announcements.
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