Cleanspark Acquires 4.4 EH/s of Bitmain’s New S21 Antminers; Readies for Bitcoin Reward Halving

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In a disclosure on Wednesday, bitcoin mining entity Cleanspark has reserved 4.4 exahash per second (EH/s) of Bitmain’s latest S21 Antminers. The mining company, recognized on the public market, detailed that the consignment is valued at approximately $61.6 million, translating to $14 for each terahash per second (TH/s).

Cleanspark Amplifies Mining Capabilities, Snags 4.4 EH/s of Bitmain’s S21 Antminers

Cleanspark (Nasdaq: CLSK), a U.S.-based bitcoin mining firm, divulged its procurement of 4.4 EH/s of the fresh S21 miners from mining equipment titan Bitmain. Though the specifics were not openly shared, the dispatch indicates that the Bitmain S21 Antminers boast an efficiency quotient of 17.5 joules per terahash (J/TH), suggesting the purchase likely involved the air-cooled S21 models.

These air-cooled S21 models yield 200 TH/s each, necessitating 22,000 units for the company to hit the 4.4 EH/s mark. The apparatuses hold a cumulative worth of $61.6 million, as per Cleanspark.

Bitmain is fronting the capital for the residual 20%, with the balance postponed until a year post-delivery, indicating an upfront disbursement of $11.2 per TH/s. The announcement underscores that shipments are slated to kick off in January 2024.

This acquisition by Cleanspark comes on the heels of Iris Energy securing 1.4 EH/s of Bitmain’s S21 hardware for $19.6 million. Bitcoin mining conglomerates are bracing for the impending reward halving, a mere 196 days out, and enhancing the joules per terahash ratio is crucial for augmenting revenue streams.

“Integrating the S21 into our mining operations is in line with our commitment to using the most efficient mining technology,” Zach Bradford, CEO of Cleanspark, explained on Wednesday.

What do you think about Cleanspark acquiring 4.4 EH/s of Bitmain’s new S21 miners? Share your thoughts and opinions about this subject in the comments section below.