The US-based cryptocurrency miner – CleanSpark – bought 45,000 models of the Antminer S19 XP BTC mining machines for $144.9 million.
The present computing energy of CleanSpark is 6.7 EH/s, whereas the set up of the brand new gear is anticipated to push it to 13 EH/s.
Making ready for the Halving
In response to the deal, the producer will distribute 25,000 models in August, whereas the remaining 20,000 ought to arrive in September. CleanSpark plans to deploy all of them at its mining facility in Sandersville, Georgia.
Zach Bradford – CEO of CleanSpark – mentioned the Antminer S19 XP is “essentially the most power-efficient bitcoin mining machine accessible out there at this time” and raised hopes it can flip right into a “key part” for the corporate’s operations.
He defined that the multi-million buy and the supply of first-class equipment is a part of the agency’s technique previous to the Bitcoin halving that’s anticipated to happen within the spring of 2024.
The pivotal occasion, decreasing the speed at which new cash are created, will reduce block rewards in half – from the present 6.25 BTC to three.125 BTC. Many consultants consider the method will gasoline a worth surge of the first cryptocurrency, much like earlier events.
“As bitcoin’s halving attracts nearer, our give attention to operational effectivity, our technical experience, and our treasury administration technique will all play an important function in solidifying CleanSpark’s place among the many high bitcoin mining firms in America,” Bradford mentioned.
The 45,000 new machines must also increase the mining capability of the group to 13 EH/s by September 2023. Bradford argued that the crypto winter had given corporations an opportunity to amass fashionable gear at an industry-leading worth:
“We’ve chosen different models, such because the S19 jPro+, over the S19 XP up to now as a result of we believed the hole would shut on the delta between the ROI of different models and the XP. Our persistence has paid off.”
CleanSpark’s Mining Enlargement
The corporate acquired a web site in Washington, Georgia, for $16.2 million in the summertime of 2022. It just lately began enlarging the power so it could ultimately accommodate 16,000 miners. CEO Bradford is set that the growth will add 50 MW to the prevailing 36 MW of infrastructure:
“This second part greater than doubles the scale of the prevailing operation. We’re trying ahead to increasing our relationship with the Washington Metropolis group and to having the ability to help the development jobs that may include this growth.”