CleanSpark (CLSK), a crypto miner, purchased 45,000 new Bitmain Antiminer S19XPs for $144.9 Million. Once installed, it will nearly double its computing power or hashrate.

This latest acquisition is part of a series of distressed assets that the miner has made since the summer 2022.

Once installed and delivered, the 45,000 Antminers will provide CleanSpark with an additional 6.3 exahash/second of computing power. This acquisition announcement comes as bitcoin crosses $30,000 for nearly a year. It could boost the bitcoin mining industry.

The Bitmain will deliver the first batch of 25,000 rigs in August. The rest are due to arrive in September. They will be installed on a Sandersville, Georgia site that CleanSpark purchased from Mawson Infrastructure in September.

CleanSpark plans to have 16 EH/s computing power by the end the year. It reduced its 2023 guidance to 22.4 EH/s in December 2022 due to delays in construction by Lancium. It also purchased 2.44 EH/s machines at a discounted price in February. They are expected to be available at a Washington state facility in the second quarter.

CleanSpark CEO Zach Bradford stated that as bitcoin’s halving nears, CleanSpark’s focus on operational efficiency, technical expertise and treasury management strategies will all play a critical role in securing CleanSpark’s place among the top Bitcoin mining companies in America.

Edited and spelled out by Parikshit Moishra.