Cleanspark has been expanding its mining operations and in order to expand them it has been acquiring top-of-the-line Bitcoin mining rigs manufactured by a leading mining brand, Bitmain. Exactly 4,500 more Bitcoin mining machines have been purchased of specific model for building the capacity of Cleanspark clean mining activity.
Cleanspark is a Bitcoin-specific Nevada-based mining firm which also happens to be a public listed company. The Bitcoin mining farm is currently in the process of expanding its Bitcoin mining activity by investing in equipment purchases. Clean spark is also widely appreciated for minting Bitcoins on the basis of environment-friendly process i.e. clean energy source.
The mining company has very recently sold off some of its Bitcoin with the sole intention of investment. The sale proceeds from Bitcoins have been utilized towards purchasing 4,500 more Bitcoin mining rigs. The machines have been bought from the state-of-the-art Bitcoin mining equipment manufacturer, Bitmain. Reportedly, Cleanspark has acquired top of a line model namely S19 from Bitmain. It is expected that the shipment process will initiate in the coming months, though the payment has been made in full.
Cleanspark told that money was collected from the company’s profits and from the sale of few Bitcoins which were owned by the company. The miner is positive that this acquisition of further rigs will significantly build the capacity of Cleanspark. For instance, it is expecting that with all the newly bought machines operating, the machines will provide hashrate of 450 PH/s. The current hashrate of Cleanspark is also the same i.e. 450 PH/s. This would mean that when the existing and newly bought machines will work together, Cleanspark’s hashrate would be doubled.
Still Cleanspark is far behind the top Bitcoin miners of the world. For instance, Genesis Digital Assets and Marathon are amongst the leading Bitcoin miners. They bought have acquired more Bitcoin mining machines from Canaan and Bitmain. However, against the quantity of Cleanspark, the numbers of machines acquired by Genesis and Marathon are exorbitant. For example, Genesis purchased 20 K machines in August while Marathon acquired 30 K machines in the same month.
One of the major reasons why Bitcoin miners are investing in equipment purchase is because of China. China has apparently shut down Bitcoin and other mining farms in the country. China was evidently one of the major miners of Bitcoin. However, because of the mining shutdown in mainland China, the burden of minting Bitcoins has been shifted on other miners. Therefore, the global miners are trying to capitalize whatever they can from the burden that has been created by China. This is why companies such as Genesis, Marathon and Cleanspark have been putting in millions of dollars into equipment purchase.