CleanSpark Secures Strategic Deal for 160,000 Bitmain S21 Miners, Aiming for 50 EH/s Hashrate

A recent PR Newswire report states that CleanSpark has acquired 60,000 units scheduled for delivery from April to June 2024. The agreement includes a strategic call option allowing the purchase of an extra 100,000 machines at a fixed rate of $16.00 per terahash until the end of the calendar year. If exercised, this option is expected to boost CleanSpark's hashrate to around 50 EH/s, marking a 400% increase from its current 10 EH/s once all machines are deployed.

CleanSpark CEO Zachary Bradford highlighted the strategic significance of the agreement, emphasizing improved operational efficiency, extensive optionality, and readiness for upcoming opportunities. The call purchase option serves as a hedge against potential increases in machine prices, allowing the company to navigate future bull markets more efficiently.

Bradford noted the flexibility provided by the agreement in timing infrastructure growth with macro events while ensuring cost certainty on the miners. CleanSpark chose Bitmain's S21 model due to its superior performance, being the most efficient bitcoin mining machine available.

With a purchase price of $16.10 per terahash for the initial 60,000 units, totaling $193.2 million after discounts, CleanSpark also has the option to acquire an additional 100,000 units at a fixed price of $16.00 per terahash.

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PR Newswire