Announced by CleanSpark Inc. the purchase of 12,500 Antminer S19 XP bitcoin mining machines for a total price of $40.5 million. The machines were acquired at a lower price than the current market average, costing $23 per terahash, according to a press release shared by Bitcoin Magazine. The purchase agreement states that 6,000 of the machines will be delivered in June, with the remaining 6,500 scheduled for delivery in August.
Zach Bradford, CEO of CleanSpark, expressed his confidence in the purchase, saying, “This purchase ensures that we are ready to meet and potentially exceed our year-end target of 16 EH/s and also positions us which is one of the most powerful.-efficient miners on a power-per-hashrate basis.” He further highlighted the optionality that additional engines provide, allowing the company to replace less efficient units when the economy supports it.
CleanSpark reported that it took advantage of the machine’s discounted purchases during the crypto bear 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 of CleanSpark, emphasized the importance of these purchases in preparation for the future emergence of bitcoin, saying, “the efficiency of these machines also results in less power that used per bitcoin mined compared to older generation miners, which should translate into higher margins.”
CleanSpark’s recent purchase of bitcoin mining machines demonstrates the company’s commitment to expanding their mining capacity and remaining competitive in the market. With fees from Ordinal inscriptions increasing revenue for miners, it is expected that major players like CleanSpark will continue to strengthen their miner inventory.