• CleanSpark Inc. has purchased 20,000 brand new Antminer S19j Pro+ units for $43.6 million.
• After coupons, the company will pay $32.3 million, which is expected to expand their bitcoin production capacity by 37%.
• 15,000 of these machines are planned to be deployed at their Washington, Georgia facility with deliveries starting as early as next month and ending in May 2023.
CleanSpark Purchases Antminer S19j Pro+
CleanSpark Inc. recently announced the purchase of 20,000 brand new Antminer S19j Pro+, the latest generation of Bitmain’s bitcoin mining machines, for a total of $43.6 million after discounts. This purchase is estimated to increase their bitcoin production capacity by 37%, adding 2.44 exahashes per second (EH/s) when installed.
15,000 units from this order will be deployed at CleanSpark’s wholly-owned bitcoin mining locations in the USA with its Washington, Georgia facility being the primary location – although there may be some changes depending on the development of the site and order fulfillment speed from Bitmain itself.
Capital Management Strategy
The capital management strategy employed by CleanSpark includes reinvesting a major portion of mined bitcoins back into growth initiatives – manifesting in this expansion effort with Antminers Pro+. The models purchased are more power-efficient and 22% more productive than its predecessor S19j Pro model with deliveries starting as early as next month and ending in May 2023 at all their campuses.
CEO Zach Bradford commented on this acquisition stating that “Building and owning our mining campuses at multiple locations provides us with a level of agility and reliability that cannot be achieved otherwise.” He further added that “We exercise tremendous control over our infrastructure and therefore our ability to be highly efficient in the way we allocate our resources.”
This massive purchase is part of CleanSpark’s capital management strategy which seeks to reinvest most mined bitcoins back into growth initiatives like these expansions while also providing them significant control over their infrastructure for more efficient resource allocation among other benefits.