CleanSpark Acquires 12,500 Antminer S19 XP Bitcoin Miners

CleanSpark Inc. recently announced its acquisition of 12,500 Antminer S19 XP Bitcoin mining machines, amounting to a total cost of $40.5 million. 

The company managed to secure the miners at a price lower than the current market average, paying just $23 per terahash. The purchase agreement outlines that 6,000 machines will be shipped in June, while the remaining 6,500 are scheduled for shipping in August.

CEO of CleanSpark Zach Bradford explained that "this purchase ensures that we are prepared to meet and potentially exceed our year-end target of 16 EH/s and also positions us to be one of the most power-efficient miners on an energy-per-hashrate basis."

Bradford emphasized the added flexibility offered by the additional miners, enabling the company to replace less efficient units.

CleanSpark disclosed that it has been capitalizing on discounted machine acquisitions amidst the bear market. In February, the company acquired 20,000 Antminer S19j Pro+ units, and subsequently expanded its fleet with the purchase of 45,000 Antminer S19 XP units in April.

CFO at CleanSpark Gary A. Vecchiarelli stated that "the efficiency of these machines also results in less power consumed per Bitcoin mined compared to older generation miners, which should translate to higher margins."