CleanSpark Inc. announced the purchase of 12,500 Antminer S19 XP bitcoin miners for a total price of $40.5 million. The hardware was obtained at a price below the current market average, at a cost of $23 per tart, according to a press release shared with Bitcoin Magazine. The purchase agreement states that 6,000 machines will be shipped in June, with the remaining 6,500 set to ship in August.
CleanSpark CEO Zack Bradford expressed confidence in the purchase, saying: “This purchase ensures that we are poised to meet and potentially exceed our year-end target of 16 EH/s and also positions us for one of the most powerful forces – efficient miners.” on an energy per hash basis.” He also highlighted the optionalness offered by auxiliary machines, allowing the company to replace less efficient units if the economy supports them.
CleanSpark reported that it benefited from discounted machine purchases during the cryptocurrency market. In February, the company acquired 20,000 Antminer S19j Pro+ units, followed by the purchase of 45,000 Antminer S19 XP units in April.
Gary A. Vecchiarelli, CFO at CleanSpark, emphasized the importance of these purchases in preparation for the upcoming Bitcoin halving, noting that “the efficiency of these machines also results in less energy consumption per coin mined compared to the older generation of miners, which should translate to higher margins.
CleanSpark’s recent purchase of bitcoin miners demonstrates the company’s commitment to expanding its mining capacity and remaining competitive in the market. With The Ordinals’ engraving fee boosting miners’ revenue, big players like CleanSpark can be expected to continue boosting their stock.