This approach, combined with CleanSpark’s proprietary mining model, enabled the company to surpass its year-end guidance in 2022.ĭuring that time, CleanSpark tripled its hashrate and achieved one of the highest hashrate realization rates among its industry counterparts, even in the challenging conditions of the crypto bear market.ĬleanSpark shares rose 0.9 per cent to $4.72 on Friday on the NASDAQ exchange. The company follows a balanced capital management strategy by selling a portion of its mined bitcoins in order to reinvest in growth. “Importantly, this acquisition is fully paid for from our existing cash reserves and we expect it to almost immediately start driving revenue to our bottom line.”ĬleanSpark predominantly utilizes low-carbon energy sources, constituting more than 90 per cent of its energy mix, for mining bitcoin. “We continue to make use of opportunities created by current market conditions to prepare for next year’s bitcoin halving,” said Gary A. In April, the company further expanded its holdings by purchasing 45,000 new Antminer S19 XP units. Additionally, CleanSpark acquired 20,000 Antminer S19j Pro+ units in February and fully paid for them. In recent developments, the company purchased 12,500 new Antminer S19 XP machines at a discounted rate. “It also continues to position us as one of the most power-efficient miners on an energy-per-hashrate basis.”ĬleanSpark has been actively acquiring machines and making strategic purchases since the start of the crypto bear market. “This acquisition ensures that we have more than enough infrastructure to reach our year-end target of 16 EH/s,” said Zach Bradford, CEO of CleanSpark. These machines will be deployed across two facilities owned by CleanSpark. The company said on Wednesday that the acquisition will add slightly under 1 exahash per second (EH/s) to its hashrate.ĬleanSpark has purchased and fully paid for over 6,000 Antminer S19 XPs and S19J Pro+s, which are the latest and most energy-efficient bitcoin mining machines. (NASDAQ: CLSK) purchased two bitcoin mining campuses in Dalton, Georgia for $9.3 million.
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