CleanSpark purchased additional 10,000 miners through a purchase agreement with Cryptech Solutions. This is in addition to the 6,000 that CleanSpark had purchased earlier this summer.
- CleanSpark bought 10,000 Bitcoin mining machines from Cryptech Solutions.
- Final valuation for the purchase agreement was $28 million
- CleanSpark currently hosts more than 37,000 bitcoin miners.
CleanSpark Inc. (Nasdaq : CLSK), has purchased 10,000 Bitmain Antminer S19jPro units under a $28 million purchase contract with Cryptech Solutions. According to a press release, this was sent to Bitcoin Magazine.
CleanSpark CEO Zach Bradford said, "During the tail-end of the bull market last years, we strategically focused upon building infrastructure rather than following the then industry trend to pre-order equipment months in advance."
CleanSpark has been purchasing large quantities of miners throughout the summer. CleanSpark purchased 1,800 units in July and another 1,000 units the month before. According to the release, the mining company bought more than 6,000 miners between June and August.
Bradford said, "This strategy allowed us to purchase landed rigs at substantially lower prices, which reduced the time between capital deployment and hashing, accelerating returns on investment."
The company will therefore also be able to quickly deploy this large purchase. All the miner purchases are expected to be operational and delivered by November.
These large deployments and acquisitions are in contrast to many others in the mining sector who have given up during downturns.
Matt Schultz, executive chair, stated that "we prepared for difficult times, which allowed to take advantage unique opportunities created by this market, accelerating our growth trajectory."
CleanSpark boasts a network of 37,000 miners in all its locations. It has a daily average of 14.9 BTC production and 3.8 exahashes every second (EH/s).
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By: Shawn Amick
Title: Bitcoin Miner CleanSpark Purchases 10,000 Antminers For $28 Million
Sourced From: bitcoinmagazine.com/business/cleanspark-purchases-10000-bitcoin-miners-worth-28-million
Published Date: Wed, 07 Sep 2022 13:00:00 GMT
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