CleanSpark buys 12,500 Bitcoin miners from Bitmain for $40.5 million

The American company CleanSpark announced the purchase of 12,500 new ASIC miners for Bitcoin mining, Antminer S19 XP from Bitmain, for $40.5 million.

Hot off the press! More miners have been purchased by $CLSK for lower than the current average market price. Approximately 12,500 Antminer S19 XP units were bought for $40.5 million — or $23 per terahash.

The units have a power-efficiency rating of 21.5 joules per terahash… pic.twitter.com/TKRxhWXlzx

— CleanSpark Inc. (@CleanSpark_Inc) June 1, 2023

The equipment was priced at $23 per TH/s, well below the market price, the firm said.

Under the contract, 6,000 miners will be shipped in June by the manufacturer, with the remaining 6,500 shipped in August.

Deploying the batch will add about 1.76 EH/s to the company’s hash rate. CEO Zach Bradford said this will bring the company closer to achieving its 16 EH/s target.

“We will continue to capitalise on the opportunities created by current market conditions to prepare for the Bitcoin halving next year. This XP order will not only increase our hash rate, but also lead to lower energy consumption per BTC mined compared with older-generation miners, which will bring more profit,” said the firm’s CFO Gary Vecchiarelli.

He noted that the company has already paid half of the batch cost.

In February CleanSpark bought 20,000 Antminer S19j Pro+ devices. In April the firm announced the acquisition of 45,000 Antminer S19 XP units for a total of $144.9 million.

The company operates five mining facilities, four located in the state of Georgia, one in New York. The CleanSpark fleet comprises 67,700 miners with a hash rate of 6.7 EH/s.

The company announced plans to bring the average energy efficiency of its equipment down to 26 J/TH from 31 J/TH.