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BTC Mining Company Cleanspark Purchases 10k Bitmain Miners for $28M

08-Sep-2022 By: Simran Mishra
BTC Mining Company C

The Bitcoin mining company Cleanspark announced on Wednesday that 

It has inked a purchase deal for 10,000 new Bitmain Antminer S19j Pro mining rigs for $28 million. 

Cleanspark anticipates that the machines will be delivered to company's facilities by the end of October or early November 2022.

Bitcoin miner Cleanspark has announced an agreement with Cryptech Solutions to buy 10,000 Bitmain Antminer S19j Pro bitcoin mining machines. 

The news follows Cleanspark surpassing 3 exahash per second (EH/s) and setting a new daily output high of 13.25 BTC. At the time, Cleanspark's executive chairman, Matt Schultz, stated that the firm was prepared for the crypto winter.

In a press release, Cleanspark stated that the 10,000 new Bitmain-brand BTC miners will be delivered to the company's mining campuses in around two months. After credits and discounts, the publicly traded bitcoin mining firm paid $28 million for new mining machines. Cleanspark CEO Zach Bradford stated that the company is committed to expanding its mining infrastructure.

"During the tail end of the bull market last year, we deliberately concentrated on infrastructure rather than the then-industry trend of pre-ordering equipment months in advance," Bradford added. 

According to the CEO, “This method enabled us to make landed rig purchases at much-reduced prices. It also helps us in minimizing the time between spending funds and hashing and boosting our return on investment.”

At the time of writing, Bitcoin's hashrate was 227.99 exahash per second (EH/s). Cleanspark details that it has over 37,000 bitcoin mining machines with a current hashrate of roughly 3.8 EH/s. The company accounts for 1.66% of global hashpower at 3.8 EH/s, and Cleanspark claims a production peak of 14.9 BTC per day.

Read also: Cryptocurrency price update: BITCOIN PRICE ANALYSIS : Will BTC face strong resistance at the $19500-$19600 level?

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