CleanSpark Spends $144.9M to Expand its BTC Mining Capacity

CleanSpark is going to double the capacity of Bitcoin mining and for that purpose intends to spend around $144.9 million to buy mining machines. It currently holds Bitcoin mining machines with a capacity of 15.9 Eh/s.

CleanSPark is interested in Antminer S19. XP Units of Antminer S19 are considered to be the most efficient and reliable systems for Bitcoin (BTC) mining. On 11th April 2023, CleanSpark Inc. disclosed that 45,000 new units of Antminer S19 worth $144.9 are being purchased. Moreover, this purchase is purely meant to enhance the mining capacity of Bitcoin. It is expected that these units would be delivered by the end of September 2023. Upon deploying the units, computing power above 6.3 EH/s would be added to the current mining capacity of 6.7 EH/s.

Antminer S19 XP Mining Machines

Antminer S19 XP is considered to be the most powerful Bitcoin mining machine. It is best known for its efficiency and out as compared to other mining machines. Zach Bradford, CEO (Chief Executive Officer) of CleanSpark Inc. was of the view that Antminer S19 XP is playing a vital role in building the Bitcoin mining facilities of the country.

As per the agreement, company representatives assured that manufacturers would deliver 25,000 units out of 45,000 units in August.  While rest of the 20,000 Antminer S19 XP would be ready to deliver during September 2023. CleanSpark has scheduled to deploy the units at the Bitcoin facility being established in Georgia. It is important to note that there is a project of 150 megawatts is under process in the district of Georgia named Sandersville. Moreover, the Deployment of these 45000 units would ultimately double the capacity of bitcoin mining of CleanSpark. In addition, these facilities will dynamically benefit the firm with maximum mining with the most powerful Bitcoin machine ever named Antminer S19 XP.

Etymology of CleanSpark

CleanSpark is an American-based firm originally founded back in 1987. It develops the sustainable infrastructure for BTC (Bitcoin) and vital tools for financial inclusion and independence. CleanSpark is assisting people to achieve energy independence for their businesses and homes since 2014. The firm is putting its efforts to make this planet a better place by using low-carbon energy resources i.e., hydro, nuclear, solar and wind.