The new miners will contribute to CleanSpark’s ongoing expansion just as the Bitcoin market is rising.
CleanSpark Inc. has purchased 20,000 new Antminer S19j Pro+ units, the latest generation of Bitmain’s bitcoin mining machines, for $43.6 million. After the coupon, the company will pay out $32.3 million, according to a press release sent to Bitcoin Magazine.
The purchase is expected to expand the company’s bitcoin production capacity by 37%, adding 2.44 exahashes per second (EH/s) after installation. CleanSpark plans to deploy a fleet of new machines at its wholly-owned Bitcoin mining hubs in the US, 15,000 of which will be deployed at its Washington, Georgia facility. According to the release, that allocation may change depending on the development of the site and the pace of order fulfillment by manufacturers.
CleanSpark CEO Zach Bradford said: This is an advantage of proprietary mining or “prop mining” models. We have significant control over our infrastructure, which allows us to be very efficient in how we allocate resources. ”
CleanSpark’s capital management strategy includes selling and reinvesting the majority of mined bitcoins into growth, manifesting itself 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 begin shipping next month and will be shipping in batches. All batches are expected to be delivered to the company’s mining campus by the end of May 2023.