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CleanSpark shares jump 10% as firm announces purchase of 45,000 bitcoin miners

CleanSpark Inc. (NASDAQ: CLSK), one of the largest Bitcoin mining companies in the world, has announced the purchase of an additional 45,000 Antminer S19 XP mining machines.

The Bitcoin miner bought the new machines for a total of $144.9 million, according to details shared in a news release on Tuesday.

CleanSpark shares traded higher following the news, with CLSK jumping more than 10% as of 10 am ET to $3.00. The company’s stock price was up nearly 32% in the past five days and +49% in the past month. In comparison, Bitcoin was 6.4% up on the day and over 95% higher YTD.

CleanSpark adds 45,000 Antminer S19 XP, expected by end of September

According to CleanSpark CEO Zach Bradford, the company expects the manufacturer to deliver all the 45,000 Antminer S19 XP by end of September this year. 25,000 of the units will be ready by August, while the remaining 20,000 will be delivered by end of September.

Once delivered and deployed, the mining company will add an extra 6.3 exahashes per second (EH/s) to its hashrate. Currently, that stands around 6.7 EH/s, which would mean a 95% increase on the publicly traded company’s total computing power.

Bradford added that the addition of the Antminer S19 XP, currently the most power-efficient miners available, is a huge step towards the company’s goal of becoming the most efficient BTC mining firm. The purchase is particularly important to the company’s operations ahead of the next Bitcoin halving event.

The CleanSpark CEO said in a statement:

“As bitcoin’s halving draws closer, our focus on operational efficiency, our technical expertise, and our treasury management strategy, will all play a crucial role in solidifying CleanSpark’s position among the top bitcoin mining companies in America.”

CleanSpark announced another 20,000 bitcoin miners in February, with the purchase set to bump the company’s hashrate by 2.44 EH/s. In total, deployment of all the machines by the end of the year would see the miner’s hashrate hit 15.9 EH/s – closer to its target of 16 EH/s.

The post CleanSpark shares jump 10% as firm announces purchase of 45,000 bitcoin miners appeared first on Invezz.

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