Cleanspark Invests in Bitmain’s S21 Antminers to Boost Mining Capabilities
Bitcoin mining company Cleanspark, listed on the Nasdaq as CLSK, has announced its acquisition of 4.4 exahash per second (EH/s) of Bitmain’s latest S21 Antminers. The purchase is valued at approximately $61.6 million, with each terahash per second (TH/s) costing $14. The specific details of the deal were not disclosed, but it is likely that Cleanspark acquired the air-cooled S21 models, which have an efficiency quotient of 17.5 joules per terahash (J/TH). To reach the 4.4 EH/s mark, Cleanspark needed to obtain 22,000 units of these models.
Bitmain’s Involvement and Delivery Schedule
Bitmain is financing the remaining 20% of the acquisition cost, with payment postponed until a year after delivery. This means that an upfront payment of $11.2 per TH/s is required. The shipments are scheduled to commence in January 2024.
Industry Trends and Mining Efficiency
This move by Cleanspark follows Iris Energy’s recent acquisition of 1.4 EH/s of Bitmain’s S21 hardware for $19.6 million. As the impending reward halving approaches in just 196 days, bitcoin mining companies are focusing on improving their joules per terahash ratio to increase their revenue streams. According to Zach Bradford, CEO of Cleanspark, integrating the S21 into their mining operations aligns with their commitment to using the most efficient mining technology.
Hot Take: Cleanspark Expands Mining Capabilities with Bitmain Partnership
Cleanspark’s acquisition of 4.4 EH/s of Bitmain’s S21 Antminers demonstrates the company’s dedication to enhancing its bitcoin mining capabilities. By investing in the latest technology, Cleanspark aims to improve its efficiency and increase profitability. This strategic move aligns with the broader trend in the industry, as mining companies prepare for the upcoming reward halving. With the shipments scheduled for early 2024, Cleanspark is positioning itself for success in the evolving crypto mining landscape.
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