CleanSpark Acquires Bitcoin Mining Machines to Expand Its Capacity

CleanSpark, a Bitcoin (BTC) mining company, announced on Thursday that it had acquired 1,061 Whatsminer M30S machines. According to the press release, the move adds around 93 petahashes per second of computing power to the firm’s existing mining capacity.

Compared to the spot market price just a few months ago, CleanSpark purchased the machines at a substantial discount. Two bulk purchases of machines have been made by the firm within the last month. Also, the company acquired 1,800 Antminer S19 XP bitcoin mining machines at an exceptional discount after the June market downturn.

Over the past six months, CleanSpark has increased its computing power by 47% and its bitcoin production by 50%. “We are seeing unprecedented opportunities in this market. 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,” Zach Bradford, the CEO of CleanSpark, commented.

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

Recently, White Rock Management announced the launch of its first US-based Bitcoin mining facility in Texas’ Brazos Valley region. Natural gas by-products from active oil wells on-site will power the company’s initial operations. A partnership between White Rock and NGON, a green energy services and technology company, will capture the gas and divert it to produce Bitcoin.

White Rock’s data center sites in Sweden have a total capacity of 30 MW. A total hashrate of 1.6 EH/s is expected to be achieved once US operations begin.