Cleanspark to Upgrade Mining Fleet With 100,000 S21 Pro Bitcoin Miners From Bitmain

The publicly traded bitcoin mining company Cleanspark has exercised its option to acquire 100,000 bitcoin mining machines from Bitmain. The firm initially secured the option last year, and the agreement has now been enhanced to include the latest S21 Pro model from Bitmain, which offers 15 joules per terahash (J/T).

Bitmain and Cleanspark Seal Deal for 100,000 High-Efficiency Miners

On Friday, Cleanspark (Nasdaq: CLSK) disclosed that its operations have surpassed a total hashrate of 17 exahash per second (EH/s). Back in January 2024, the company announced the acquisition of 60,000 application-specific integrated circuit (ASIC) bitcoin mining rigs and mentioned its right to purchase an additional 100,000 S21 Antminers at a set price of $16 per terahash. This was prior to the release of the Antminer S21 Pro, known for its enhanced efficiency of 15 J/T.

Cleanspark has amended the deal, enabling the purchase of the S21 Pro units at the unchanged price of $16 per terahash, offering a significant improvement in BTC mining efficiency. The total investment for acquiring these 100,000 Antminers is estimated at $374 million. By opting for the S21 Pro, Cleanspark anticipates a 17% increase in hashrate, approximately an additional 3.4 EH/s compared to the former S21 models.

“Efficiency is the most important variable as we head into the halving,” Zach Bradford, the CEO of Cleanspark commented on Friday. “With the upgrade to the new S21 Pro, we expect that we have cemented our lead as the most efficient publicly traded bitcoin miner at scale in North America. Our extraordinary scale has allowed us to make meaningful gains in our bitcoin production without having to increase the energy use of our data centers.”

Bradford also noted that post-halving, many older and less efficient units will likely be phased out, thus naturally boosting his company’s market share. He pointed out that more efficient machines also reduce the overall energy consumption of the Bitcoin network. According to the agreement, the new S21 Pros are expected to be delivered between June and December 2024.

What do you think about Cleanspark acquiring 100,000 new bitcoin miners from Bitmain? Share your thoughts and opinions about this subject in the comments section below

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