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Sustainability-focused bitcoin mining firm CleanSpark is expanding its ASIC fleet to 12,500 units after investing $40.5 million in new hardware.
The added device is estimated to bring CleanSpark’s total hash rate to more than 16 exahashes per second (EH/s).
CleanSpark’s Mining Discount
according to a Press release From CleanSpark on Thursday, the firm’s fleet of newly purchased Antminer S19 XP machines operate at a cost of $23 per terahash ($/TH).
data from hashrate index shows that this is slightly lower than the industry average of $23.27/TH for machines with the same efficiency. On the matter, CleanSpark said:
“The Antminer S19 XP units have a power-efficiency rating of 21.5 Joules per Terahash (J/TH) and a bitcoin mining compute power (or hashrate) of 141 Terahash per second (TH/s), for a combined total hash rate of 1.76 per second (EH/s).
The cost of high-efficiency ASICs has declined steadily since June of last year, when the price of bitcoin plummeted below $20,000, making mining far less profitable than during the BTC bull run.
Bitcoin’s return above $26,000 in March did little to break that trend, although this may be due to the increasing efficiency of ASIC machines over time. Indeed, although the price of bitcoin remains down 61% from its all-time high, its global hash rate Continues to break records with minimal interruption.
Following this purchase, CleanSpark’s total fleet will technically represent 4.7% of the global hash rate. While its new machines won’t go live immediately, 6000 are expected to arrive from the manufacturer in June, and the remaining 6500 are slated for August.
The company’s CEO, Zach Bradford, also suggested that the new fleet could replace existing, less efficient machines, rather than just add to them, depending on how the economics play out.
Cleanspark’s massive mining investment
CleanSpark has already disclosed the purchase of thousands of machines in several announcements this year. This includes 20,000 Antminer S19j Pro+ units for $13.15/TH in February and 45,000 Antminer S19 XP units for $23/TH in February. april,
Only the first of those purchased so far has been paid, with “significant progress” on paying off April’s purchases. On the most recent investment, CleanSpark CEO Gary A. Vecchiarelli said the company “has already fully funded and paid for the first half of this purchase, or approximately 6,650 machines.”
by the end of 2022, including major North American mining firms core scientist And Iris Energy struggled to pay back the loan after taking out a similar nine-figure loan to buy new machines.
other firms prefer scale And CleanSpark intentionally waited for a crypto bear market before committing major capital toward mining infrastructure.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
[ad_1]
Sustainability-focused bitcoin mining firm CleanSpark is expanding its ASIC fleet to 12,500 units after investing $40.5 million in new hardware.
The added device is estimated to bring CleanSpark’s total hash rate to more than 16 exahashes per second (EH/s).
CleanSpark’s Mining Discount
according to a Press release From CleanSpark on Thursday, the firm’s fleet of newly purchased Antminer S19 XP machines operate at a cost of $23 per terahash ($/TH).
data from hashrate index shows that this is slightly lower than the industry average of $23.27/TH for machines with the same efficiency. On the matter, CleanSpark said:
“The Antminer S19 XP units have a power-efficiency rating of 21.5 Joules per Terahash (J/TH) and a bitcoin mining compute power (or hashrate) of 141 Terahash per second (TH/s), for a combined total hash rate of 1.76 per second (EH/s).
The cost of high-efficiency ASICs has declined steadily since June of last year, when the price of bitcoin plummeted below $20,000, making mining far less profitable than during the BTC bull run.
Bitcoin’s return above $26,000 in March did little to break that trend, although this may be due to the increasing efficiency of ASIC machines over time. Indeed, although the price of bitcoin remains down 61% from its all-time high, its global hash rate Continues to break records with minimal interruption.
Following this purchase, CleanSpark’s total fleet will technically represent 4.7% of the global hash rate. While its new machines won’t go live immediately, 6000 are expected to arrive from the manufacturer in June, and the remaining 6500 are slated for August.
The company’s CEO, Zach Bradford, also suggested that the new fleet could replace existing, less efficient machines, rather than just add to them, depending on how the economics play out.
Cleanspark’s massive mining investment
CleanSpark has already disclosed the purchase of thousands of machines in several announcements this year. This includes 20,000 Antminer S19j Pro+ units for $13.15/TH in February and 45,000 Antminer S19 XP units for $23/TH in February. april,
Only the first of those purchased so far has been paid, with “significant progress” on paying off April’s purchases. On the most recent investment, CleanSpark CEO Gary A. Vecchiarelli said the company “has already fully funded and paid for the first half of this purchase, or approximately 6,650 machines.”
by the end of 2022, including major North American mining firms core scientist And Iris Energy struggled to pay back the loan after taking out a similar nine-figure loan to buy new machines.
other firms prefer scale And CleanSpark intentionally waited for a crypto bear market before committing major capital toward mining infrastructure.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
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