Mining power is measured by bitcoin's hashrate. It's important to note that CleanSpark's bitcoin-mining operations are small compared to Riot Blockchain and Marathon Patent Group. We believe our operational strategy focused on efficiency, updating and execution will allow these metrics to continuously improve.” added Bradford.Over the past six months, bitcoin mining stocks have significantly outpaced bitcoin's otherwise impressive gains. “These important KPIs underscore the fact that our growth exceeds global hashrat, especially our ability to stay ahead of online difficult adjustments. In addition, JPMorgan’s strategists, led by Nikolaos Panigirtzoglou, published a note on Wednesday this claims that bitcoin production cost was decreased from $ 24K in early June 2022, to today’s estimate of around $ 13K.Ĭleanspark revealed that the company’s computing power has risen 47% over the past six months and the company’s bitcoin production has grown by 50%. In late June, Luxor Technologies co-founder estimated that $ 4 billion in loans backed by crypto mining platforms is extremely close to default risk. With the crypto winter and the macroeconomic climate diminishing the value of bitcoin, it is quite possible that distressed bitcoin miners are selling large quantities of mining devices for discounts.
Cleanspark Says the Company’s Bitcoin Production Has Grown by 50% in 6 Months “Our proven and true hybrid approach of locating our machines while expanding our own mining facilities puts us in a great position to sustainably grow our bitcoin mining capacity in what is becoming an incredible market for builders,” Bradford noted. The bitcoin mining company further noted that the 1,800 Antminer S19 XP bitcoin mining machines acquired in mid-June were also purchased at a discounted rate. In mid-June, Cleanspark acquired 1,800 Antminer S19 XP bitcoin mining machines (pictured right) at an “exceptionally discounted price”. On Thursday, July 14, 2022, Cleanspark announced that it had purchased 1,061 Whatsminer mining platforms (pictured left) with a discount.
The CEO of the mining bitcoin company, Zach Bradford, explained that the company sees “unprecedented opportunities in this market.” According to Cleanspark, the company managed to buy the Whatsminer machines at a much lower price than what the devices sold a few months ago. bitcoin (BTC) at the company’s renewable co-location facility.
CLEANSPARK CRYPTO MINING SERIES
The Whatsminer M30S series is manufactured by the company Microbt and the 1,061 machines are equal to 93 petahash per second (PH / s) of hashpower.Ĭleanspark detailed that the 93 PH / s had already been added to existing operations and the machines were currently being mined. (Nasdaq: CLSK) announced Thursday that the company has purchased 1,061 Whatsminer M30S bitcoin mining devices. Cleanspark Purchases 2 Wholesale Orders from ASIC Miners in 30 Days with DiscountĪmid the crypto market decline, bitcoin mining company Cleanspark has bought two wholesale orders of bitcoin mining machines over the past 30 days. The latest ASIC acquisition follows Cleanspark’s recent purchase agreement to purchase 1,800 Antminer S19 XP units for an “exceptionally discounted price”. On Thursday, the publicly listed bitcoin mining company Cleanspark announced that it had added 93 petahash seconds (PH / s) of hash power to the company’s existing operations by acquiring 1,061 Whatsminer M30S bitcoin mining platforms.
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