New miners will contribute to CleanSpark’s expansion, just as the Bitcoin market rises.
CleanSpark Inc. has purchased 20,000 units of the new Antminer S19j Pro+, the latest generation of Bitmain’s bitcoin mining machine, for $43.6 million. After coupons, the company will pay $32.3 million, according to a press release sent to Bitcoin Magazine.
This purchase is expected to expand the company’s bitcoin production capacity by 37%, adding 2.44 exahashes per second (EH/s) once installed. CleanSpark plans to deploy a new fleet of machines at its wholly-owned bitcoin mining locations in the US with 15,000 planned for its Washington, Georgia facility. There may be changes to the allocation, depending on the development situation of the site and the pace of order fulfillment by the manufacturer, the release said.
Zach Bradford, CEO of CleanSpark, said, “Building and owning our mining campuses in different locations gives us a level of agility and reliability that cannot be achieved elsewhere. When the machines are delivered to us, we will have rackspace waiting for them in one . from our site. This is the advantage of proprietary mining or the ‘prop mining’ model.
CleanSpark’s capital management strategy includes selling most of the mined bitcoins to reinvest in growth, which is manifested in the form of expansion. The Pro+ is more power efficient and 22% more productive than the popular Antminer S19j Pro model and will be shipped in batches, with deliveries starting next month. All batches are expected to be delivered to the company’s mining campus by the end of May 2023.