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- 1 Bitcoin mining rigs purchased by CleanSpark will be delivered in two batches.
- 2 CleanSpark is purchasing mining rigs for the second time in 2023.
Bitcoin Miner CleanSpark has purchased 12,500 Antminer S19 XP BTC mining rigs worth $40.50 million. Due to extreme crypto market volatility, miners buy mining rigs at lower prices.
The mining firm cracked the acquisition deal at lower prices than the current market prices. As per the agreement, 6,000 rigs will be shipped by June itself, and the remaining 6,500 rigs will be shipped in August 2023.
Zach Bradford, Chief Executive Officer of CleanSpark, said the recent purchase is a part of the pre-operation plan. It shows that the company is fully prepared to meet and potentially exceed our year-end target of 16 EH/s. It will also recognize the company as one of the most power-efficient miners in the industry in terms of energy per hash rate.
On February 16, 2023, the Bitcoin miner said it had ordered 20,000 new mining rigs at lower prices. It is important to note that several miners filed for bankruptcy in the last few months due to crypto winters and extreme ongoing volatility in the crypto market.
CleanSpark confirms that it will pay $32.2 million for 20,000 new Bitmain Antminer S19j Pro+ after using coupons and discounts. As per the market prices, S19jPro+ is sold for $15.09 per TH, but the crypto miner purchased it for $13.25, which means the company got a discount of $1.84 per TH.
The latest Antminer S19 XP Hyd boasts 255 TH/s of computing energy at 20.8 joules per terahash of power efficiency, operating on 5304 watts, as per the official website of Bitmain.
Its energy efficiency nearly surpasses Bitmain’s former best, the Antminer S19 XP, which carried out 140 TH/s at 21.5 J/T at just $11,620, and contender MicroBit’s Whatsminer M30S++, which provides 112 Terahash per second at an efficient rate of 31 J/TH.
Reason Why Miners Heading Toward Bankruptcy?
Many leading nations, including China, have banned crypto mining because of rising energy charges and severe environmental effects. Before the ban, China was the hub for miners, but companies halted their operations in the region following the law rules.
Texas was the second most preferred location for the crypto, specifically Bitcoin miners. The region is rich in natural resources and famous for low energy costs. Earlier in November, a popular crypto-miner filed for bankruptcy, and now it is trying hard to make a restructuring plan.
The reorganization plan was discussed by key stakeholders as of now. According to the May 22 filing, the company plans on how Core Scientific might look after emerging from bankruptcy.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
