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Bitcoin Miner CleanSpark Buys New Machines to Take Advantage of Spot Market Prices

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CleanSpark (CLSK) stated it has bought 2,597 extra Antminer S19 computer systems so as to capitalize on favorable bitcoin spot costs.

  • The new machines will likely be delivered “immediately,” including to the mining firm’s 2,711 rigs which have already been bought and scheduled for supply this month, the corporate stated in a statement.
  • “We continue to take advantage of favorable pricing in the spot market to purchase machines as opportunities present themselves, rather than locking up capital for long periods of time, while we use the standard strategy of future delivery contracts,” stated Zach Bradford, CEO and President.
  • The new machines will improve the corporate’s hashrate, or computing energy, from 1.3 exahash per second (EH/s) to almost 1.6 EH/s, or about 20%.
  • The complete hashrate of the Bitcoin community is about 162 EH/s as of Nov. 18, in accordance to information analytics agency Glassnode, making CleanSpark’s mining energy about 1% of the full community.
  • CleanSpark shares had been up shut to 5% on Friday, consistent with the good points of most of its crypto mining friends.

Read More: CleanSpark Spends Some of Its Bitcoin to Buy 4,500 New Mining Machines

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