CleanSpark, a Bitcoin miner is increasing its mining capacity in America by purchasing additional Antminer J19j Pro+ machines. The purchase cost $43.6 million. The acquisition will increase the firm’s processing power by 37%. The transaction will also increase the number of miners purchased during the bear market to 46,500 units.
CleanSpark will pay $32.3million for the machines after applying coupons to a 25% discount. According to CleanSpark’s February 16th statement, this amounts to an average price per terahash or TH of $13.25. Pro+ rigs will be delivered in batches, with 22% higher productivity than the previous versions.
In order to increase its mining capabilities, the company is taking advantage of the declining rig pricing of the market in order to do this while Bitcoin’s price is rising. According to Hashrate Index information, the current price per TH for ASICs that have the same Bitcoin mining efficiency is $15.09. This is a substantial drop from the $90.72 price one year ago. CleanSpark says that Antminer S19j Pro+ offers a better return than other ASIC-generation computers.
According to CleanSpark, the new operation will “add 2.44 EH/s to CleanSpark’s current 6.6 EH/s bitcoin mining processing capability (for a total number of 9 EH/s)”, which would be an increase of 37%.
CleanSpark believes that the new models are more appealing in current market conditions than the originals and will continue to do so in the future. The S19j Pro+ produces 122 terahashes per unit and consumes 2 joules less energy than the S19j Pro model. CleanSpark also stated that 15,000 machines will be shipped to its locations in Washington, Georgia. CleanSpark announced that the site would be getting an extension worth $16 million in January. The expected increase in the hashrate of 2.2 exahashes/second (EH/s) will bring the overall haveh rate up to 8.7 EH/s. Mawson Infrastructure Group of Sandersville had occupied the space before the firm bought it in August 2013.
Hashrate Index conducted research that found publicly traded mining companies saw an increase in both their mining output and hash rates in January. This was after a difficult year in 2022, which was marked by declining Bitcoin prices as well rising power costs. CleanSpark’s monthly mining output increased by 50 percent to 697 BTC. Its hash rate has increased from 6.2 EH/s in December to 6.6 EH/s.
Core Scientific and Riot, as well as Marathon, Marathon, Cipher, and Cipher have witnessed significant increases in Bitcoin production over this past month. This was due to steady increases in the price of electricity in the United States, as well as better weather conditions.