CleanSpark Announces Purchase of 12,500 Antminer S19 XP Bitcoin Miners

Cleanspark Inc. has announced the purchase of 12,500 Antminer S19 XP bitcoin mining machines at a total price of $40.5 million. According to a press release shared with Bitcoin Magazine, the machines were purchased at a price lower than the current market average of $23 per terahash. The purchase agreement states that 6,000 machines will be shipped in June, with the remaining 6,500 set for shipping in August.

Zach Bradford, CEO of CleanSpark, expressed his confidence in the purchase, saying, “This purchase ensures we are well prepared to meet and potentially exceed our year-end target of 16 EH/s and gives us the most Also in the position of being one of the powerful. efficient miners on an energy-per-hashrate basis.” He further highlighted the optionality provided by additional machines, allowing a company to replace less efficient units if the economics support it.

CleanSpark pointed out that it is taking advantage of discounted machine purchases during the crypto bear market. In February, the company acquired 20,000 Antminer S19j Pro+ units, followed by 45,000 Antminer S19 XP units in April.

CleanSpark CFO Gary A. Vecchiarelli emphasized the importance of these purchases in preparation for the upcoming bitcoin halving, saying “the efficiency of these machines results in less power consumption per bitcoin mined than older generation miners, which should translate to high margin.”

Cleanspark’s recent purchase of bitcoin miners shows the company’s commitment to expand their mining capacity and remain competitive in the market. With an increase in miners’ revenue from ordinals subscription fees, it is expected that large players such as CleanSpark will continue to strengthen their miner lists.