CleanSpark to double its bitcoin mining capacity with $144.9M expansion deal

CleanSpark announced a purchase of 45,000 brand-new units of the Antminer S19 XP bitcoin mining machines for a total price of $144.9M. All units are expected to be ready for delivery by the manufacturer before September end, adding, once deployed, over 6.3 exahashes per second of computing power to the company’s current hashrate of 6.7 EH/s, a 95% increase. "The Antminer S19 XP is the most power-efficient bitcoin mining machine available in the market today, and a key component in our continuing work to build some of the most efficient bitcoin mining facilities in the country," said Zach Bradford, CEO of CleanSpark. "As bitcoin’s halving draws closer, our focus on operational efficiency, our technical expertise, and our treasury management strategy, will all play a crucial role in solidifying CleanSpark’s position among the top bitcoin mining companies in America." According to the purchase agreement, the manufacturer will prepare 25,000 of the 45,000 units for delivery in August, while the remaining 20,000 units are expected to be ready for delivery in September. The Company plans to deploy all of the acquired units at its bitcoin mining facility in Sandersville, Georgia, which is currently undergoing a planned 150 megawatts expansion.