Newly acquired machines are already fully operational; “This is an incredible market for builders,” said CEO Zach Bradford
CleanSpark, Inc. a sustainable bitcoin mining and energy technology company, announced it has acquired 1,061 Whatsminer M30S machines that are already mining bitcoin at Coinmint’s renewable-powered co-location facility. The move adds about 93 petahashes per second (PH/s) of computing power to the Company’s existing mining capacity.
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“We are seeing unprecedented opportunities in this market,” said Zach Bradford, CEO of CleanSpark. “Our tried-and-true hybrid approach of co-locating our machines while expanding our own mining facilities puts us in an excellent position to sustainably grow our bitcoin mining capacity in what is shaping up to be an incredible market for builders.”
The Company bought the machines at a substantially discounted price compared to the spot market price from just a few months ago. This is the Company’s second bulk purchase of machines in approximately one month. Just after the market downturn in June, the Company acquired, at an exceptionally discounted price, a purchase contract for 1,800 units of the Antminer S19 XP bitcoin mining machines.
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The Company’s computing power has increased by 47% over the last six months, while its monthly bitcoin production has grown 50% over the same time period. “These important KPIs underscore the fact that our growth is outpacing global hashrate, particularly our ability to stay ahead of network difficulty adjustments. We believe that our operational strategy focused on efficiency, up-time and execution will allow these metrics to continually improve,” said Bradford.
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