CleanSpark Buys 20,000 ASICs and Expands Capacity by 37%

For $43.6 million, CleanSpark Inc. has acquired 20,000 brand-new Antminer S19j Pro+ units and will pay $32.3 million after coupons.

Once deployed, the new set of miners will increase the company’s mining capacity by 37%, or 2.44 exahashes per second (EH/s). With 15,000 machines slated for its Washington, Georgia, facility, CleanSpark wants to deploy the remaining fleet of new machines to its wholly-owned Bitcoin mining facilities across the U.S.

CleanSpark CEO Zach Bradford stated:

Building and owning our mining campuses at multiple locations provides us with a level of agility and reliability that cannot be achieved otherwise. As machines are delivered to us, we will have rackspace waiting for them at one of our sites. This is the advantage of proprietary mining or the ‘prop mining’ model. We exercise tremendous control over our infrastructure and, therefore, our ability to be highly efficient in the way we allocate our resources.

These expansions are the result of CleanSpark’s capital management strategy, which includes selling a significant amount of the Bitcoin it mines to reinvest in growth. 

The S19j Pro+ ASIC model is 22% more efficient than the popular Antminer S19j Pro model and will be shipped in phases next month. By the end of May 2023, all machines are planned to arrive at the company’s mining campuses.