CleanSpark doubles down on discounted bitcoin mining rigs

Quick Take

  • Bitcoin miner CleanSpark purchased 1,061 rigs at a “substantially discounted price,” after announcing another large order just last month.
  • CEO Zach Bradford described the current market as an “incredible market for builders.”

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.


© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Catarina is a reporter for The Block based in New York City. Before joining the team, she covered local news at Patch.com and at the New York Daily News. She started her career in Lisbon, Portugal, where she worked for publications such as Público and Sábado. She graduated from NYU with a MA in Journalism. Feel free to email any comments or tips to [email protected] or to reach out on Twitter (@catarinalsm).