The new equipment is estimated to bring the firm’s total hash rate to more than 16 EH/s
Sustainability-centred Bitcoin mining company CleanSpark is extending its ASIC numbers by 12,500 units after investing $40.5mln into new hardware.
The new equipment is estimated to bring the firm’s total hash rate to more than 16 EH/s.
As per a PR from the mining company on Thursday, it’s newly bought Antminer S19 XP machines worked out to $23 $/TH.
According to data from Hashrate Index, this is marginally lesser than the industry average of $23.27/TH for machines of similar capability.
The company stated: The Antminer S19 XP units have a power-efficiency rating of 21.5 J/TH and a bitcoin mining compute power of 141 TH/s each, for a combined total hash rate of 1.76 EH/s.
Costs for high-efficiency ASICs have constantly dropped since June 2022, when Bitcoin’s decline to below $20k made mining BTC far less profitable than during the bull market.
Bitcoin’s come back above $26k in March did little to break that trend, however this may be because of the rising capabilities of ASIC machines over time. Actually, though Bitcoin’s price continues to be 61 per cent lower from its all-time high, its global hash rate continues to break records with least intervention.
After this purchase, the mining firm’s total number of machines would technically represent 4.7 per cent of global hashrate combined. Although, its new machines would not go active immediately, with 6000 expected to arrive from the maker in June, and rest of the 6500 expected for August.
The firm’s Chief Executive Officer, Zach Bradford, also proposed that the new machines could replace existing, less efficient ones, instead of merely adding to them, depending on the way economics plays out.
CleanSpark has already disclosed purchases for tens of thousands of machines across several announcements in 2023. 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 April.
Only the first of those bought has been paid off in full so far, with “significant progress” made on paying off the April purchase. On the latest investment, CleanSpark Chief Financial Officer Gary A. Vecchiarelli said the firm has already fully funded and paid for the first half of this purchase, or nearly 6,650 machines.
