CleanSpark doubles down on discounted bitcoin mining rigs

Bitcoin miner CleanSpark has acquired 1,061 rigs at a time when market prices are down.

The company added 1,061 Whatsminer M30S machines to its fleet, increasing its total hash rate by 93 petahashes per second (PH/s), according to a statement released Thursday.

As of June 30, CleanSpark had a total hash rate of 2.8 EH/s, which indicates the new machines represent roughly a 3% increase.

"We are seeing unprecedented opportunities in this market," said Zach Bradford, CEO of CleanSpark. "We believe that our operational strategy focused on efficiency, up-time and execution will allow these metrics to continually improve.”

Last month, the company also announced that it has bought 1,800 Antminer
S19 XP bitcoin mining machines, at a total of 252 (PH/s).

CleanSpark said this week that the new machines were purchased at a "substantially discounted price compared to the spot market price from just a few months ago."

Bradford described the current market as an "incredible market for builders."

According to a recent operational update, CleanSpark increased its bitcoin production in June by almost 9% compared with the previous month, mining a total of 339 BTC.

The company sold almost all of it, bringing in around $8.4 million from the sale of 328 bitcoin.