According to a press statement that was issued to Bitcoin Magazine, CleanSpark Inc., which trades under the ticker symbol “CLSK” on the Nasdaq, has acquired 10,000 brand-new Bitmain Antminer S19j Pro units by entering into a purchase agreement with Cryptech Solutions for the sum of $28 million.
According to Zach Bradford, CEO of CleanSpark, “During the tail end of the bull market last year, we intentionally focused on establishing infrastructure instead of following the then industry norm of pre-ordering equipment months in advance.”
During the course of the summer, CleanSpark has, in point of fact, been successful in recruiting a significant number of miners. The corporation made two separate purchases totaling 1,800 units in the month of July, after a previous purchase of 1,000 units in the month before that. According to the announcement, the mining business made purchases totaling more than 6,000 miners between the months of June and August.
As Bradford went on to explain, “This technique positioned us to make purchases of landed rigs at considerably reduced prices, therefore minimizing the period between deploying capital and hashing, thereby speeding our return on investment.” As a result of this, the corporation will also notice a rapid rollout for this significant acquisition. At the very latest, all of the newly acquired miners are anticipated to be delivered and put into operation by the month of November.
In addition, many companies in the mining industry have given up during market downtrends, which stands in contrast to the substantial acquisitions and deployments that have been made recently.
“We planned for hard times, which allowed us to take advantage of unique opportunities offered by the current market,” said Matt Schultz, executive chairman of the company. “This allowed us to accelerate our growth trajectory.”
CleanSpark brags about having an arsenal of 37,000 miners across all of its sites, which results in a daily production of 14.9 BTC on average and a capacity of 3.8 exahashes per second (EH/s).