CleanSpark boosts computing power by 37% with thousands of new Bitmain rigs

Bitcoin miner CleanSpark is ramping up its US mining capacity with the purchase of 20,000 new Antminer S19j Pro+ units for $43.6M. This acquisition is expected to boost the company’s computing power by 37% and bring the total number of miners acquired during the bear market to 46,500 units.

According to a February 16 statement, CleanSpark to pay $32.3 million for machines after applying 25% discount coupons or a total price per terahash (TH) of approximately $13.25. The Pro+ rigs are 22% more productive than their previous models and are scheduled to ship in batches between March and May.

The company is using lower market prices for rigs to increase its mining capacity while the price of bitcoin (BTC) is recovering. According to According to the Hashrate Index, the current price for a TH ASIC with the same Bitcoin mining efficiency is currently $15.09, well below the $90.72 seen 12 months ago. CleanSpark stated that the Antminer S19j Pro+ model provides a higher ROI compared to machines of the same generation of ASICs.

“Once fully operational, they are expected to add 2.44 EH/s to the existing 6.6 EH/s of CleanSpark bitcoin mining processing power (9 EH/s in total), representing a 37% increase.” noted in the company.

Bitcoin ASIC price index. Source: hashrate index.

CleanSpark claims that the purchased models continue to be more attractive for its work in the current market conditions. “The S19j Pro+ delivers 122 terahesh per machine and saves an average of 2 joules of power per terahesh compared to the same generation S19j Pro model.”

A total of 15,000 new machines will be delivered to the company’s facilities in Washington, Georgia. In January, CleanSpark announced a $16 million site expansion that is projected to increase the hash rate by 2.2 exahashes per second (EH/s), bringing the total hash rate to 8.7 EH/s. The facility was acquired by the company last August before it moved to the Mawson Infrastructure Group facility in Sandersville.

After a tough 2022 with declining Bitcoin prices and high electricity costs, public mining companies saw an increase in mining and hash rate in January, according to the Hashrate Index analysis. CleanSpark increased bitcoin mining by 50% within a month, reaching a record monthly production of 697 BTC. The hash rate increased to 6.6 EH/s from 6.2 EH/s in December.

Other publicly traded mining companies such as Core Scientific, Riot, Marathon and Cipher saw significant increases in bitcoin production last month, helped by stable electricity prices and improved weather patterns in the United States.

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