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Sustainable Bitcoin Miner CleanSpark Purchases Over 1,000 Mining Rigs

by ESG News • July 20, 2022

An employee checks fans on mining machines at the Bitfarms cryptocurrency farming facility in Farnham, Quebec, Canada, on Wednesday, Jan. 24, 2018. Bitfarms says it's making more than $250,000 a day from minting Bitcoin, other virtual currencies and fees at four sites in the province. Photographer: Christinne Muschi/Bloomberg via Getty Images

CleanSpark added an additional 93 PH/s to its mining capacity after purchasing over 1,000 Whatminers to be co-hosted by Coinmint.

CleanSpark has purchased over 1,061 Whatminers adding 93 PH/s to its mining capacity.
Last month the company purchased an additional 1,800 Antminer S19 XP units.
Over the past six months’ CleanSpark has increased its mining capacity by 47% and BTC production by 50%.

Sustainable bitcoin mining company CleanSpark Incorporated just added 93 petahashes per second (PH/s) of computing power to its mining capacity through a recent acquisition, in a press release sent to Bitcoin Magazine.

CleanSpark purchased 1,061 Whatsminer M30S machines which are currently operating in Coinmint’s renewable-powered co-location facility. This purchase marks CleanSpark’s second large miner acquisition within the month. In June, the company announced the acquisition of 1,800 Antminer S19 XP units through a purchase agreement brokered by Cryptech Solutions – a family owned mining infrastructure provider.

“We are seeing unprecedented opportunities in this market,” said Zach Bradford, CEO of CleanSpark. “Our tried-and-true hybrid approach of co-locating our machines while expanding our own mining facilities puts us in an excellent position to sustainably grow our bitcoin mining capacity in what is shaping up to be an incredible market for builders.”

Indeed, CleanSpark’s mining capacity has risen 47% over the past six months while its monthly bitcoin production has witnessed an increase of 50% due to the aggressive expansion of hash rate, according to the release.

“These important KPIs underscore the fact that our growth is outpacing global hashrate, particularly our ability to stay ahead of network difficulty adjustments,” said Bradford. “We believe that our operational strategy focused on efficiency, up-time and execution will allow these metrics to continually improve.”

Coinmint, the aforementioned company CleanSpark is co-hosting its mining rigs with, holds a 435 MW data center at its Massena complex with additional electrical capacity at a location in Plattsburgh, NY which are both used for third-party hosting.

Source: NASDAQ