Mining
Reading time: ~2 m
Miner CleanSpark purchased more than 26,500 of the latest ASIC miners in a year, which allowed the company to bring the number of equipment to 50,000 units. The increase in hash rate is taking place against the backdrop of infrastructure sales and bankruptcies of competitors.
The crypto winter forced miners to mine bitcoin on the verge of profitability, not covering operating costs.
Against this background, the cost of the latest ASIC miners is falling, which has dropped to $24.36 per TH. CleanSpark’s latest deal to purchase 3,900 Antminer S19j Pro is valued at $5.9 million. The company paid for the equipment 47% below the market price of TH for $15.5.
The acquisition of a new batch forced the miner to increase the forecasts of the computing power of the mines at the end of the year by 0.5 EH / s. In 2023, it is planned to expand the business to 22.4 EH / s, which will require significant investments, given the current hash rate of about 5 EH / s.
Investors did not share CleanSpark’s optimism. The company’s shares fell 6.3% after the release of the news. During the year, the paper lost 66.01%.
#Miner #CleanSpark #fastest #growing #company #terms #hashrate
