Bitcoin-based CleanSpark acquires 3,843 cryptocurrency miners

Please fol­low and like us:
Pin Share

Sus­tain­abil­i­ty-aimed Bit­coin min­ing com­pa­ny CleanSpark has report­ed­ly been able snap up anoth­er 3,843 cryp­tocur­ren­cy min­ers, with regard to a back­drop in min­ing indus­try con­sol­i­da­tion, as report­ed by Cointelegraph.

Accord­ing to Coin­tele­graph, the $5.9 mil­lion pur­chase of the Antmin­er S19J Pro Bit­coin min­ers made the announce­ment by the com­pa­ny on Novem­ber 1, 2022, arrived at a val­u­a­tion of $15.50 per ter­hash, which is con­sid­ered cheap­er than the cur­rent mar­ket price of $22.94 for a machine car­ry­ing the same effi­cien­cy, accord­ing to data from Hashrate Index. 

On the basis of infor­ma­tion by Coin­tele­graph, as a result of the pur­chase, the total num­ber of machines have been close to 50,000 for the plat­form. CleanSpark stat­ed that it pur­chased 26,500 min­ers since the begin­ning of the bear mar­ket con­di­tions, dur­ing which many firms were forced to sell off min­ing equip­ment or even had to take into account fil­ing for bank­rupt­cy. It is believed that the min­ers were bought from com­peti­tor Agro Blockchain, on account of an Octo­ber 31, 2022, update from Argo, which showed it sold 3,843 Bit­main S19J Pro machines, the exact amount and min­er mod­el which CleanSpark purchased.

“These cities essen­tial­ly become our util­i­ty provider. They make a mar­gin on every kilo­watt hour we buy to con­duct our min­ing oper­a­tions. Yet, we are buy­ing such high quan­ti­ties of ener­gy that it brings down ener­gy costs for the com­mu­ni­ties we work with,” Matthew Schultz, exec­u­tive chair­man, CleanSpark, mentioned.

More­over, Coin­tele­graph not­ed that with Bit­coin min­ing dif­fi­cul­ty going up and prof­itabil­i­ty falling down, min­ing com­pa­nies are expect­ed to look for rede­fined ways for diver­si­fi­ca­tion of their rev­enue streams so as to stay afloat. On the oth­er hand, cer­tain com­pa­nies are required to con­sol­i­date for stay­ing in the game. In August, 2022, CleanSpark pur­chased a 36 MW facil­i­ty in Wash­ing­ton, Geor­gia, and in Octo­ber, 2022, acquired an 80 MW facil­i­ty in Sander­sville, Georgia.

(With insights from Cointelegraph)

Also Read: MicroS­trat­e­gy aims to expand its Bit­coin port­fo­lio, despite record­ing net loss in third quarter

Fol­low us on Twit­terFace­bookLinkedIn



Source link

Please fol­low and like us:
Pin Share

Leave a Reply

Your email address will not be published. Required fields are marked *