CleanSpark Expands Bitcoin Mining Capacity with Antminer S19j Pro+ Purchase
CleanSpark, a Bitcoin miner, has recently purchased 20,000 additional Antminer S19j Pro+ machines for $43.6 million.
The new rigs are expected to increase CleanSpark’s processing capacity by 37%, adding 2.44 EH/s to their current 6.6 EH/s. The firm is taking advantage of the market’s decreasing rig pricing and anticipates a higher return on investment with the S19j Pro+ model.
After applying coupons for a 25% discount, CleanSpark will pay $32.3 million for the machines, which comes out to a total price per terahash (TH) of around $13.25.
The machines are expected to be delivered in batches between March and May and are 22% more productive than previous versions. Other publicly traded mining companies, including Core Scientific, Riot, Marathon, and Cipher, have also seen significant increases in Bitcoin production over the past month.
In addition to the Antminer S19j Pro+ purchase, CleanSpark is also expanding its mining capacity by investing in its Washington, Georgia, location, which is expected to increase its hash rate to as high as 8.7 EH/s. The company plans to ship 15,000 of the new machines to this location.
CleanSpark’s hash rate has been steadily increasing, with a 50% increase in Bitcoin production in January, hitting a new monthly production high of 697 BTC.
The firm is taking advantage of market conditions, with rig prices dropping significantly and Bitcoin prices on the rise, and believes the S19j Pro+ models will continue to be more appealing to its operations in the foreseeable future.