CleanSpark to Purchase 160,000 Bitmain S21 Miners
CleanSpark Inc., a Nasdaq-listed Bitcoin miner, has announced an agreement to acquire up to 160,000 Bitmain S21 miners. This acquisition could boost CleanSpark’s hashrate to 50 EH/s, according to a press release.
CleanSpark’s Initial Agreement of 60k Units
The initial agreement involves the purchase of 60,000 units, which will contribute 12 EH/s. These units are expected to ship in the second quarter of 2024. CleanSpark also has the option to buy an additional 100,000 miners at a fixed rate until the end of the year, potentially quadrupling its current hashrate.
Prep for Bitcoin Halving
The call purchase option serves as a protective measure against possible price surges in mining machines. CleanSpark CEO Zachary Bradford believes this move will enhance operational efficiency and position the company for future opportunities.
Bradford also confirmed that the S21 miners are suitable for CleanSpark’s operations and have been chosen over alternative models. The first batch of 60,000 units was purchased for $193.2 million, with an additional option for 100,000 units at $16.00 per terahash.
Established Capacity and Potential Bull Run
CleanSpark operates five data centers independently in Georgia, with a combined developed capacity of 230 MW. The strategic steps taken by the company come ahead of the upcoming Bitcoin halving and a potential bull run in the market.
Hot Take: CleanSpark Expands its Mining Operations
CleanSpark’s agreement to purchase up to 160,000 Bitmain S21 miners demonstrates its commitment to expanding its mining operations and increasing its hashrate. This move positions the company to take advantage of potential opportunities in the Bitcoin market, particularly with the upcoming halving and a potential bull run. With the option to acquire an additional 100,000 miners, CleanSpark is well-prepared to navigate market fluctuations and solidify its position as a top publicly traded Bitcoin miner.
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