The current bearmarket is a major attack on all companies and investors in the crypto sector. Bitcoin miners are also suffering from the low bitcoin price and high energy prices. But here and there you see that these companies still dare to take the risk to expand right now. So is CleanSpark, a large bitcoin miner that recently added 10,000 new miners purchased.
Bitcoin miner seizes its opportunity
CleanSpark, which calls itself “the leading sustainable bitcoin miner in the United States,” bought the 10,000 miners for a price of $28 million. To be precise, it bought the Bitmain Antminer S19j Pro. The ASICS miner from the world’s largest mining manufacturer has a hash rate of 100 terahashes per second (TH/s).
The company was able to acquire the 10,000 machines for a good price. While miners normally sell for about $95 per terahash, CleanSpark has struck a deal for $28 terahash. This is partly due to the current situation on the market. CleanSpark CEO Zach Bradfod explains this:
“Towards the end of the bull market last year, we strategically focused on building infrastructure rather than following the industry trend at the time of pre-ordering equipment months in advance,”
The company made several purchases in the course of this year. All in all, CleanSpark should be generating well over 5 exahashes per second with the machines by the end of this year.
Other BTC miners in trouble
Earlier in the latest bitcoin news it was stated that mining pool Poolin has faced liquidity problems. Due to the growing number of withdrawals from miners that are affiliated with the pool, the platform can no longer handle it. Therefore, it temporarily suspended bitcoin withdrawals.
Despite the market conditions, the hash rate is still rising. At the time of writing, the hash rate, aka computing power, is even approaching its all time high (ATH). As a result, recently the difficulty good again.