CleanSpark's buying spree continues with $5.9 million worth of bitcoin mining machines

Quick Take

  • Bitcoin miner CleanSpark bought 3,843 ASIC machines at a total of $5.9 million.
  • The company has been leveraging current market conditions to acquire thousands of machines and two facilities.

At a time when many bitcoin miners are struggling with liquidity, CleanSpark has bought an additional batch of 3,843 Antminer S19J Pro machines at a total of $5.9 million.

Recently, the company acquired two facilities from other operators, as well as over 16,000 machines at a discounted price.

“This most recent purchase demonstrates how CleanSpark continues to execute in distressed markets,” said CEO Zach Bradford, noting that the company's "unwavering focus on sustainability has provided us with a strong balance sheet and operating strategy that has allowed us to acquire machines at incredible prices, grow our hashrate, and increase our daily bitcoin production in anticipation of market conditions improving over the next several months.”

CleanSpark bought these new machines at a price of $15.50 per terahash — significantly lower than what it said Bitmain was selling that same model for in January, which was as much as $116 per TH/s.

The company now has around 50,000 machines operational — having reached its year-end guidance of 5 EH/s months ahead of schedule.

Meanwhile, Core Scientific floated the option of bankruptcy last week, stating that it wouldn't be able to pay the bills at the end of the month. On Monday, Argo Blockchain announced that a financing deal fell through, with its shares subsequently falling roughly 50%.

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