The BTC mining firm projects its mining power will reach 16 EH/s by the end of the year.
On April 11, American Bitcoin miner CleanSpark announced that it purchased 45,000 Antminer S19 XP application-specific integrated circuit (ASIC) mining rigs for $144.9 million. CleanSpark said all the units will be ready for delivery by Antminer before the end of September. The purchase is expected to add 6.3 exahashes per second (EH/s) of mining power to its rig, which currently possesses a capacity of 6.7 EH/s.
After the purchase, the firm’s expected hash rate will account for an estimated 3.8% of the entire Bitcoin network. Zach Bradford, CEO of CleanSpark, commented:
“The Antminer S19 XP is the most power-efficient bitcoin mining machine available in the market today, and a key component in our continuing work to build some of the most efficient bitcoin mining facilities in the country.”
25,000 of the 45,000 ASICs will be delivered in August, while the remaining 20,000 units are expected to be ready in September. CleanSpark said it plans to deploy all the acquired units at its Bitcoin mining facility in Sandersville, Georgia, which is currently undergoing a 150-megawatt power expansion.
“This bear market has continued to provide us with opportunities to maximize ROI, including the opportunity to purchase the industry’s best miner at an industry-leading price.”
CleanSpark has set a goal of reaching 16 EH/s in hash rate by the end of 2023. In February, the firm purchased 20,000 ASICs scheduled for operations this quarter. CleanSpark claimed that over 90% of its mining electricity stems from “low-carbon energy sources.” At the end of 2022, the firm possessed $486.8 million in total assets and $59.8 million in total liabilities.