The new miners will contribute to CleanSpark’s ongoing expansion, just as the Bitcoin market ramps up.
CleanSpark Inc. has purchased 20,000 brand new Antminer S19j Pro+ units, the latest generation of Bitmain’s bitcoin mining machines, for $43.6 million. After coupons, the company will pay $32.3 million, according to the press release sent to Bitcoin Magazine.
This purchase is expected to expand the company’s bitcoin production capacity by 37%, adding 2.44 exahashes per second (EH/s) once installed. CleanSpark plans to deploy the fleet of new machines at its wholly-owned bitcoin mining locations in the USA with 15,000 of them planned for its Washington, Georgia, facility. There may be changes to that allocation, depending on the state of development of the site and the pace of order fulfillment by the manufacturer, the release states.
Zach Bradford, CEO of CleanSpark, said, “Building and owning our mining campuses at multiple locations provides us with a level of agility and reliability that cannot be achieved otherwise. As machines are delivered to us, we will have rackspace waiting for them at one of our sites. This is the advantage of proprietary mining or the ‘prop mining’ model. We exercise tremendous control over our infrastructure and, therefore, our ability to be highly efficient in the way we allocate our resources.”
CleanSpark’s capital management strategy includes selling a major portion of its mined bitcoins to reinvest in growth, manifesting in the form of these expansions. The Pro+ is more power-efficient and 22% more productive than the popular Antminer S19j Pro model and will be shipped in batches, with deliveries starting as early as next month. All batches are expected to be delivered to the company’s mining campuses by the end of May 2023.