A total of 4,500 S19 bitcoin mining rigs from Bitmain were recently purchased by Cleanspark, a publicly-listed bitcoin mining firm.
According to an announcement from Cleanspark, the delivery of the rigs will start by next month. The purchase was funded partially by a portion of the company’s BTC holdings.
The mining firm also shared some of the expectations of its recent mega purchase, projecting a 450 PH/s (0.45 EH/s) increase in its current hashrate which, incidentally, currently stands at the same number.
Purchase for large-scale operations
In buying 4,500 bitcoin miners this year, Cleanspark becomes the latest company to make major purchases of bitcoin mining rigs for large-scale operations.
It can be recalled that by the end of August, 20,000 miners were bought by Genesis Digital Assets from Canaan. During the first week of the same month, Bitmain sold 30,000 rigs to Marathon.
Meanwhile, Foundry U.S. was able to increase its capacity exponentially through its partnership with a number of operations.
Lastly, Cleanspark, at the end of December 2020, was able to buy U.S. bitcoin minder ATL Data Centers after spending $19.4 million.
Cleanspark moves to increase supply of mining rigs
Currently, Cleanspark boasts a supply of 10,000 miners which it looks to increase with its recent acquisition.
Over the next 12 months, a total of 24,580 bitcoin mining rigs are scheduled to be received by Cleanspark, signaling the start of the mining company’s quest to significantly increase its production.
Along this line, in addition to ATL Data Centers, Cleanspark purchased a facility in Norcross, Georgia that used to be a Sprint/Nextel data center. This was then converted into a new mining facility that is expected to take advantage of Georgia’s Simple Solar program.
Cleanspark Chief Executive Officer Zach Bradford said the decision to use their BTC holdings for the purchase of additional bitcoin mining rigs was a “conscious effort” of their company.
Image courtesy of Cointelegraph News/YouTube