CleanSpark (CLSK) again took advantage of the distressed state of the crypto mining industry to buy 20,000 new rigs at below-market rates, according to a Thursday press release.
The company said it expects to pay $32.3 million for 20,000 new Bitmain Antminer S19j Pro+ mining rigs, after knocking the price down by 25% with coupons and discounts. That works out at $13.25 per terahash (TH), which is lower than the market price of $15.09 per TH for the S19j Pro+ category recorded on mining firm Luxor Technologies' price index. The price of mining rigs is often measured in dollars per terahash, a measure of computing power, because different machines have different specifications.
Once installed, the new machines will add 2.44 exahash/second (EH/s) to CleanSpark’s 6.6 EH/s of bitcoin mining power, a 37% increase. They will be delivered from the manufacturer to CleanSpark in batches by the end of May. CleanSpark plans to install 15,000 of them in its Washington, Georgia facility, which it acquired from Waha Technologies in August, depending on how an expansion of the site pans out.
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