CleanSpark scoops up 1K+ mining rigs at ‘substantially discounted price’

Crypto mining firm CleanSpark announced the purchase of more than 1,000 Bitcoin miners amid the market downturn, reporting a “substantially discounted price” compared to that earlier in 2022.

In a Thursday blog spot, CleanSpark said it had acquired 1,061 Whatsminer M30S rigs currently mining Bitcoin (BTC) at the Coinmint facility in New York, whose space the company shares with Riot Blockchain. The mining firm said it had purchased the machines for far less of price than that “just a few months ago,” hinting the recent bear market was responsible. CleanSpark also bought 1,800 Antminer S19 XP rigs in June following the market downturn.

“We are seeing unprecedented opportunities in this market,” said CleanSpark president and CEO Zach Bradford. “Our tried-and-true hybrid approach of co-locating our machines while expanding our own mining facilities puts us in an excellent position to sustainably grow our bitcoin mining capacity in what is shaping up to be an incredible market for builders.”

According to CleanSpark, the addition of the 1,063 miners added 93 petahashes per second (PH/s) to the firm’s total hash rate, reported to be 2.8 exahashes per second (EH/s) as of June 30. The miners brought in a 1,863 BTC, 328 of which CleanSpark reported selling in June for roughly $8.4 million “for operations and growth.”

Related: Crypto miners in Texas shut down operations as state experiences extreme heat wave

Major mining firms including Argo Blockchain, Bitfarms, Core Scientific and Riot Blockchain have sold some of their BTC holdings amid the recent market downturn. Argo reported selling 637 BTC in June to reduce its debt on a loan from Galaxy Digital, while other firms have cited building their data capacity and ability to mine more coins.

Cointelegraph reported on Thursday that Bradford had joined Cointelegraph Innovation Circle, a private membership service launched in March aimed at business leaders and experts in the blockchain industry.

All Dutch and English crypto news!

Options data shows Bitcoin’s short-term uptrend is at risk if BTC falls below $23K

Bitcoin (BTC) briefly broke above $25,000 on Aug. 15, but the excitement lasted less than an hour and was followed by a 5% retrace in...

Back to basics for Decentraland’s MANA as momentum indicator turns bearish

Decentraland boomed in 2021, but this year has been relatively quiet The native token MANA is sliding after remaining robust The bear weakness is widespread after a...

CME Group plans to launch options on ETH futures prior to the Merge

Major derivatives marketplace Chicago Mercantile Exchange Group intends to launch options trading for its Ether futures products. In a Thursday announcement, the CME Group said that...

Blockchain venture capital funding down over 43% in July: Report

Typically a lagging indicator of the sector's health, the explosion of venture funding in the blockchain sector in 2021 and the first half of 2022...

Beste exchanges

Koop je crypto bij Bitvavo