Bitcoin Miner Cleanspark Acquires 3,853 Bitmain-Made BTC Mining Rigs for $5.9 Million

The bitcoin ( Bitcoin] mining company Cleanspark (Nasdaq : CLSK), which reported that its total hashrate exceeded five exahash per seconds (EH/s), explained that it would increase its year-end goals to 5.5 EH/s. Cleanspark announced that it had purchased a new batch bitcoin mining rigs worth $5.9 million, or $15.50 per Terahash. The total number of Antminer S19JPro units purchased by the bitcoin mining company was 3,853 (or $15.50 per terahash). This mining rig produces approximately 96 Terahash per Second (TH/s) per unit.

CleanSpark CEO Zach Bradford stated that the latest purchase shows how CleanSpark can continue to perform in distressed markets. “Our focus on sustainability has given us a strong balance sheet, an operating strategy, and allowed us to acquire machines for incredible prices, grow hashrate, increase our daily bitcoin production, and anticipate market conditions improving in the coming months.

Cleanspark claims that it was able acquire 26,500 mining equipment at the beginning of the bear market. Cleanspark currently has four sites in operation and approximately 50,000 mining machines. The company’s daily production of 19.2 bitcoin has been tapped by the 50K machines. The company’s latest moves during crypto winter are made at a time when many bitcoin miners are in extreme pain. In October, Bitcoin’s hash value hit an record low.

A filing to the U.S Securities and Exchange Commission (SEC) on Oct. 26, 2022 shows that Core Scientific had been considering restructuring. After the SEC filing suggested that Core Scientific might be in bankruptcy, Core Scientific’s shares were reclassified. Compute North has also been dealing with financial problems, Chapter 11 bankruptcy protection filings were published Sept. 22.

Cleanspark announced Tuesday that it has exceeded 5 EH/s, and that it plans on increasing its hashpower 10%. Cleanspark also stated that it will meet Cleanspark’s 2023 year end goals. It aims to achieve 22.4 EH/s.