CleanSpark’s initial agreement involves the acquisition of 60,000 mining machines, with the option to purchase an additional 100,000 in 2024.

Nasdaq-listed Bitcoin miner CleanSpark Inc. has reached an agreement to purchase up to 160,000 Bitmain S21 mining machines. The company noted in a press release on Monday that the acquisition could boost CleanSpark’s hash rate to 50 EH/s.

The announcement comes days after CleanSpark revealed plans to build an in-house trading platform this year to boost returns on its massive Bitcoin holdings.

CleanSpark has a preliminary agreement to purchase 60,000 units

The release states that CleanSpark’s preliminary agreement involves the acquisition of 60,000 devices. The units will have a power of 12 EH/s and are expected to ship in the second quarter of 2024.

Additionally, CleanSpark has the option to purchase an additional 100,000 mining machines at a fixed price before the end of the year. If fully realized, this move could quadruple the company’s current hashrate from 10 EH/s to around 50 EH/s.

“This strategic agreement improves our operating efficiencies, provides a wealth of options and enables us to maximize the opportunities we anticipate,” said Zachary Bradford, the miner’s chief executive.

Preparing for the Bitcoin Halving

Bradford said the call options are a safeguard against a potential surge in mining machine prices, which have historically risen three to five times during bull markets.

After testing, Bradford also confirmed that the S21 is more suitable for CleanSpark operations than other alternative models. The first 60,000 units were sold for $193.2 million. An option to purchase an additional 100,000 units is priced at $16.00 per terahash.

The company’s strategic move comes in the wake of the upcoming Bitcoin halving and potential bull run.

Founded in 2014, CleanSpark (NASDAQ: CLSK) independently operates five data centers in Georgia with a total development capacity of 230 megawatts (MW), according to MarketScreener.

Meanwhile, Bitcoin is rebounding after breaking above $47,000 earlier this week. Prior to this, BTC was up 8%.

Bradford added: “As we continue to expand our production capacity, we are not only confident that we can successfully navigate the halving, but we also believe we will open up new avenues of growth and further solidify our position as the top publicly traded Bitcoin miner.” #比特币挖矿  #CleanSpark