- Amid bearish market conditions, America’s Bitcoin Miner announced its acquisition of 3,843 units of bitcoin mining machine.
- The total machines purchased since June now exceeds 26,500.
BTC Miner, CleanSpark announced its new purchase as “Happy November!” on November 2, 2022. It has added that NASDAQ listed stock, CleanSpark Inc (CLSK) has acquired 3,843 more latest-gen bitcoin mining machines instead of the bearish market phase. This brings the number of units bought since June to over 26,500.
CleanSpark Inc. has bought the Antminer S19J Pro bitcoin mining machines for $5.9 Million, or approximately $15.50 per terahash.
It must be noted that Bitcoin Mining is the process by which new bitcoins enter into circulation. And bitcoin mining machines have highly specialized computers that are used to mine bitcoins.
CleanSpark’s Acquisition
In the news release, Zach Bradford, CleanSpark Inc. CEO and President, said that “This most recent purchase demonstrates how CleanSpark continues to execute in distressed markets.”
The CEO further mentioned the company’s plan as he added “Our unwavering focus on sustainability has provided us with a strong balance sheet and operating strategy that has allowed us to acquire machines at incredible prices, grow our hashrate, and increase our daily bitcoin production in anticipation of market conditions improving over the next several months.”
On October 11, 2022, CleanSpark completed the acquisition of an 80MW bitcoin mining facility in Sandersville, Georgia, which included nearly 6,500 mining machines.
After the following acquisition, Mr. Bradford said “Mawson has built a world-class facility, staffed by an incredible team, and we are looking forward to continuing their work in Sandersville, eventually building this site to its full potential of 230 MW as we work toward our 2023 year-end guidance of 22.4 EH/s.”
Moreover, on September 7, 2022, the Company bought 10,000 brand-new Bitmain Antminer S19j Pro units, to expand the company’s bitcoin mining capacity by 1EH/s at a significantly discounted price.
“During the tail end of the bull market last year, we strategically focused on building infrastructure instead of following the then industry trend of pre-ordering equipment months in advance,” said Zach Bradford.
In addition, on August 9, 2022 the Company acquired a 36MW facility in Washington, Georgia, which included 3,400 machines for approximately $8.9 Million.
“We are excited to expand our footprint in Georgia. We look forward to maintaining and growing jobs and infrastructure at our new campus in Washington.” said Mr. Bradford.
After this whole acquisition, the firm expects to meet its 2023 year-end guidance of 22.4 EH/s.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2022/11/02/an-american-bitcoin-miner-acquired-3843-mining-machines/