Bitcoin Miner CleanSpark Buys 45,000 Mining Gear Worth $145M

• The first 25,000 miners will start trickling in over the month of August.
• CleanSpark claims 90% of its current energy supply comes from carbon-free sources.

CleanSpark, a Bitcoin miner based in Sandersville, Georgia, in the United States, has announced the completion of a $144.9 million transaction to acquire 45,000 of Bitmain’s Antminer S19 XP Bitcoin mining machines.

The first 25,000 miners will start trickling in over the month of August, with the remaining devices coming the following month. Once operational, CleanSpark’s Georgia fleet will have increased the company’s processing power by 6.3 exahashes per second (EH/s), or 95%, from its present capacity of 6.7 EH/s.

In addition, in February, CleanSpark bought 20,000 miners, which are already being sent to its Washington plant in Georgia. Later this quarter, when these machines are fully operational, the Washington plant will increase the company’s operating hash rate by 2.44 EH/s.

With an eye on exceeding 16 EH/s by the end of the year, CleanSpark currently claims to have a total of 15.9 EH/s either implemented or under contract.

Banking on Renewable Energy

To provide some context, CoinWarz has estimated that the current Bitcoin mining network hash rate is a little around 322.53 EH/s. CleanSpark would control around 5% of Bitcoin’s total computational power if all of its machines were online right now.

While CleanSpark has been around since 1987 providing software and energy solutions, it only began operating Bitcoin mining operations in 2020.

The firm promotes itself as “sustainable Bitcoin mining,” with the goal of powering all of its mining operations with renewable energy. According to CleanSpark, 90% of their current energy supply comes from carbon-free sources. With Bitcoin’s price crossing the $30k level, it would be rewarding for miners after a terrible year before.