On Thursday, publicly listed bitcoin mining firm CleanSpark announced that it has added 93 petash per second (PH/s) hashpower to the company’s existing operations by acquiring 1,061 Whatsminer M30S bitcoin mining rigs. The latest ASIC acquisition follows CleanSpark’s recent purchase contract to buy 1,800 Antminer S19 XP units at “an exceptionally discounted price”.
Cleanspark buys 2 bulk orders of ASIC miners at a discount in 30 days
Amid the downturn in the crypto market, bitcoin mining company CleanSpark bought two bulk orders of bitcoin miners during the past 30 days. Cleanspark, Inc. (Nasdaq: CLSK) announced Thursday that the company has purchased 1,061 Whatsminer M30S bitcoin mining devices. The Whatsminer M30S series is manufactured by the company Microbt and has 1,061 machines equivalent to 93 petash per second (PH/s) hashpower.
CleanSpark elaborated that 93 ph/s have already been added to existing operations and that machines are currently mining bitcoin (BTC) at the firm’s renewable-powered co-location facility. Bitcoin mining company CEO Zach Bradford explained that the firm is seeing “unprecedented opportunities in this market.” According to CleanSpark, the company managed to buy WhatsApp machines at a much lower price than the devices it was selling a few months back.
The bitcoin mining company further said that 1,800 Antminer S19 XP bitcoin miners it acquired in mid-June were also purchased at a discounted rate. Bradford commented, “Our tried-and-true hybrid approach of co-locating our machines while expanding our own mining facilities places us in an excellent position to continuously increase our bitcoin mining capacity, which is a great opportunity for builders to develop their own bitcoin mining operations.” An incredible market is building up.” After ASIC device acquisition.
CleanSpark Says Company’s Bitcoin Production Up 50% in 6 Months
With the crypto winter and the macroeconomic climate cutting the value of bitcoin, it is quite possible that distressed bitcoin miners are selling large amounts of mining equipment for a discount. In late June, the co-founder of Luxor Technologies estimated that a $4 billion loan backed by a crypto mining rig was extremely close to running the risk of default. Furthermore, JP Morgan strategists, led by Nikolaos Panigertzoglu, published a note on Wednesday claiming that bitcoin production costs had dropped from $24K in early June 2022 to around $13K today.
CleanSpark revealed that the firm’s computational power has increased by 47% and the company’s bitcoin production has increased by 50% during the past six months. “These important KPIs underscore the fact that our growth is outpacing the global hash rate, particularly our ability to stay ahead of network difficulty adjustments. We are confident that our operations focused on efficiency, up-time and execution The strategy will allow these metrics to be continuously improved,” Bradford said.
What do you think about CleanSpark buying up 1,061 ASIC miners and explaining that there are “unprecedented opportunities” in this bear market? Tell us your thoughts about this topic in the comment section below,
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