Cleanspark Expands Mining Operations with Bitmain S21 Miner Purchase
Cleanspark, a Nasdaq-listed bitcoin mining firm, has announced its acquisition of 60,000 S21 miners from Bitmain, boosting its hashing power by 12 exahash per second (EH/s). The purchase, valued at $193 million, is set for delivery between April and June 2024. Cleanspark also has the option to buy an additional 100,000 S21 Antminers at a fixed price of $16 per terahash. This move is part of a broader trend in the industry as companies prepare for the upcoming Bitcoin halving event. Cleanspark CEO Zach Bradford stated that the company is poised to expand and take advantage of the next bull market.
Choosing Antminer S21 for Superior Performance
In selecting the Antminer S21 over the newer T21 models, Cleanspark cited the S21’s efficient performance and suitability for their operations. Real-world testing confirmed the S21’s superior capabilities, leading to the company’s strategic decision to acquire this hardware. Cleanspark aims to increase its total production to over 20 EH/s with the current purchase and has the potential to achieve a 400% capacity surge by exercising its option for an additional 100,000 miners.
Industry-wide Trend of Procuring Cutting-Edge Mining Rigs
Other industry players, including Hive Digital Technologies, Cipher Mining, and Iris Energy, have also been acquiring next-generation mining rigs in preparation for the Bitcoin halving event. Riot Platforms, a major bitcoin mining giant, recently revealed its acquisition of Microbt’s latest Whatsminer M66S models. Riot has secured a similar agreement with Bitmain, allowing them to obtain an additional 75 EH/s of mining equipment from Microbt.
Preparing for the Impending Bull Market
Cleanspark’s strategic agreement with Bitmain is aimed at enhancing operational efficiency and maximizing opportunities in the upcoming bull market and halving event. CEO Zach Bradford emphasized the company’s readiness to capitalize on the evolving market conditions and position itself for growth and success.
Hot Take: Cleanspark Expands Hashing Power with S21 Miner Acquisition
Cleanspark’s recent purchase of 60,000 S21 miners from Bitmain represents a significant expansion of its mining operations. With the potential to reach a hashing capacity of 50 EH/s, Cleanspark is positioning itself to take advantage of the anticipated bull market and the Bitcoin halving event. By securing an option for an additional 100,000 miners, the company demonstrates its commitment to scaling up its operations and capitalizing on market opportunities. This move follows a broader industry trend of procuring advanced mining rigs, emphasizing the importance of staying ahead with cutting-edge technology. Cleanspark’s strategic acquisition sets the stage for future growth and success in the crypto mining sector.
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