It has four owned and operated facilities, about 50,000 bitcoin mining machines operational, and a daily production high of 19.2 bitcoin. for an immersion cooling expansion.ĬleanSpark mines predominantly with renewable or low-carbon sources of energy. The Company kicked off the summer in June with a purchase contract takeover of 1,800 Antminer S19 XP units and a partnership with TMGCore Inc. During the month of July, CleanSpark acquired 1,061 substantially discounted Whatsminer machines that increased mining capacity by 93 PH/s. Those acquisitions came on the heels of several strong summer purchases. And in August the Company acquired a 36MW facility in Washington, Georgia, which included 3,400 machines. In September, the Company bought 10,000 brand-new Bitmain Antminer S19j Pro units. In October, CleanSpark finalized the acquisition of an 80MW facility in Sandersville, Georgia, which included nearly 6,500 mining machines. “Our unwavering focus on sustainability has provided us with a strong balance sheet and operating strategy that has allowed us to acquire machines at incredible prices, grow our hashrate, and increase our daily bitcoin production in anticipation of market conditions improving over the next several months.” “This most recent purchase demonstrates how CleanSpark continues to execute in distressed markets,” said Zach Bradford, CleanSpark CEO. 01, 2022 (GLOBE NEWSWIRE) - CleanSpark Inc. (Nasdaq: CLSK) (the “Company”), America’s Bitcoin Miner™, today announced it acquired 3,843 units of the Antminer S19J Pro bitcoin mining machines for $5.9 million, or approximately $15.50 per terahash, bringing the total number of machines purchased by the Company since bear market conditions began to over 26,500. “Focusing our efforts on our Bitcoin mining segment allows the Company to capitalize on the tremendous opportunity Bitcoin presents.Total Machines Purchased Since Bear Market Conditions Began in June Now Exceeds 26,500 “CleanSpark is considering strategic alternatives for our legacy energy business,” Zach Bradford, CleanSpark’s chief executive, said in a statement in February. and Marathon Digital Holdings have chosen to hoard Bitcoin, CleanSpark has been selling tokens for a higher price as it focuses more on mining. While publicly traded miners like Hut 8 Mining Corp. In late April, CleanSpark finalized $35 million in non-dilutive financing from Trinity Capital, a provider of venture debt financing. And last month it bought a mining farm in Washington, Georgia, with 86-megawatt capacity for an undisclosed amount. On Wednesday, the company announced the purchase of 10,000 rigs for $28 million from Cryptech Solutions. The more competition there is on the network, the less rewards each miner will receive.ĬleanSpark has been on a shopping spree for large-scale mining facilities and machines. CleanSpark also agreed to buy 6,468 machines from Mawson for $9.48 million in cash.īitcoin miners use powerful computers to be the first to come up with a solution to validate transactions encrypted by the Bitcoin network and win limited rewards in the form of newly minted tokens. The operational facility has an 80-megawatt capacity, with plans to increase capacity to 230 megawatts by the end of next year and can currently support about 24,108 latest-generation mining rigs. Sydney-based Mawson will receive $26.5 million cash consideration and $11 million in CleanSpark’s stock, $4.5 million of which is subject to certain earn-out commitments, for its facility in Sandersville, Georgia. While some miners scale back mining operations or reorganize their facilities to be more efficient, relatively well-capitalized mining firms like Henderson, Nevada-based CleanSpark are expanding by acquiring infrastructure such as data centers and machines at a discount. The deal, announced Friday, comes as Bitcoin mining companies’ revenue nears a two-year low due to increasing network competition, low Bitcoin prices and soaring energy costs. a likely sign that more industry consolidation is ahead. (Bloomberg) - CleanSpark Inc., a publicly traded Bitcoin miner, has agreed to acquire a mining facility and machines from Mawson Infrastructure Group Inc.
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