CleanSpark acquires 20,000 miners from Bitmain, boosting the total number of miners affected by the bear market to 46,500

The firm has used the bear market to acquire assets at discounted rates. The addition increases the total to 46,500.

Bitcoin miner CleanSpark purchased an additional 20,000 mining equipment, increasing its total acquisitions during the bear market to around 46,500.

With reductions from manufacturer Bitmain, the business plans to spend $32.3 million for next-generation Antminer S19j Pro+ devices, it said Thursday.

This would result in a price of $13.25 per terahash and an increase of 2.44 EH/s to CleanSpark’s current hashrate of 6.6 EH/s.

“When computers are delivered to us, we will have rackspace at one of our facilities ready for them,” stated Chief Executive Zach Bradford in a statement. We have a great deal of control over our infrastructure, which allows us to distribute our resources in a very efficient manner.

Using the bear market, the business is adding to the approximately 26,500 units it purchased at a discount last year. The new units will be delivered in phases by the end of the month of May.

CleanSpark said on last week’s results call that it intends to continue purchasing more machines and sites in order to meet its revised end-of-year estimate of 16 EH/s, down from 22.4 EH/s in December.

Bradford said at the time, “We also anticipate shifting our approach when the time is appropriate and focusing on future contracts.” We feel that the tides are beginning to turn, and we will begin locking in rates for significant purchases in the coming months.

According to Luxor statistics, ASIC costs dropped by more than 80% in 2022, but have lately exhibited a very minor increase, rising from $13.86/TH in mid-January to $14.08/TH for machines with an efficiency of fewer than 38 joules/terahash.

Moreover, the corporation seeks to add between 50 and 75 megawatts through greenfield projects or acquisitions.

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