Cleanspark Bolsters Bitcoin Mining Might With 60,000 S21 Rig Acquisition From Bitmain

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The bitcoin mining firm Cleanspark, listed on Nasdaq, recently revealed the acquisition of 60,000 S21 miners produced by Bitmain. Scheduled for delivery in the next quarter, this purchase represents approximately 12 exahash per second (EH/s) of hashing power. Moreover, Cleanspark has secured the option to purchase up to an additional 100,000 S21 Antminers at a fixed price of $16 per terahash.

Nasdaq-Listed Cleanspark Aggressively Expands With Massive S21 Miner Purchase

Cleanspark (Nasdaq: CLSK) disclosed its procurement of mining hardware capable of 12 EH/s, a transaction valued at $193 million. The recently unveiled S21 bitcoin miners stand out for their high hashrate output and enhanced energy efficiency, measured in joules per terahash (J/T). According to Cleanspark’s announcement on Monday, the delivery of the 60,000 Antminer S21s is scheduled between April and June 2024

“We are ready to expand into the next bull market,” Zach Bradford, the CEO of Cleanspark stated.

The acquisition of 12 EH/s of hashing capacity is anticipated to elevate Cleanspark’s total production beyond 20 EH/s. Additionally, Cleanspark maintains the opportunity to acquire up to 100,000 more miners from Bitmain at a consistent rate of $16 per terahash until the year’s end. Should Cleanspark exercise its call option, its hashing capacity could rise to 50 EH/s, marking a 400% surge from its present capacity.

The company said it chose the Antminer S21 units over the newer T21 models due to the S21’s superior performance. “After receiving initial units, and performing real-world testing, we have determined that the S21 is more efficient and better suited for our operations,” Bradford clarified on Monday. Cleanspark’s strategic move to acquire new hardware is part of an industry-wide rush for cutting-edge machines in anticipation of the forthcoming Bitcoin halving event.

Industry peers like Hive Digital Technologies, Cipher Mining, and Iris Energy have also ramped up their arsenal, procuring thousands of next-generation mining rigs. Last month, the bitcoin mining giant Riot Platforms disclosed its acquisition of 66,560 units of Microbt’s latest Whatsminer M66S models. Additionally, Riot has entered an agreement similar to Cleanspark’s with Bitmain, securing a call option for an additional 75 EH/s of mining equipment from Microbt.

Cleanspark, too, is gearing up for the impending bull market and halving event. “This strategic agreement enhances our operational efficiency, provides massive optionality, and positions us to maximize opportunities that we expect on the horizon,” stated Bradford in the company’s announcement.

What do you think about Cleanspark acquiring 60,000 new bitcoin miners from Bitmain? Share your thoughts and opinions about this subject in the comments section below