• Fr. Sep 22nd, 2023

CleanSpark Scoops Up 12,500 Bitcoin Miners for $40.5M


Jun 2, 2023

• CleanSpark is expanding its ASIC fleet by 12,500 units after investing $40.5 million into new hardware.
• The added equipment is projected to bring CleanSpark’s total hash rate to over 16 exahashes per second (EH/s).
• Costs for high-efficiency ASICs have consistently declined since June of last year.

CleanSpark’s Investment

CleanSpark has confirmed another heavy investment into mining equipment, adding to nine figures worth of machines purchased this year. The sustainability-focused Bitcoin mining firm invested $40.5 million into new Antminer S19 XP machines, which will bring the company’s total hashrate up to over 16 exahashes per second (EH/s).

Machine Discount

CleanSpark was able to purchase its machines at a cost of $23 per terahash ($/TH), which is slightly lower than industry average of $23.27/TH for similar efficiency machines according to data from Hashrate Index. Each machine has a power efficiency rating of 21.5 joules per terahash (J/TH) and a bitcoin mining compute power (or hashrate) of 141 terahash per second (TH/s). Combined they provide a total hash rate of 1.76 exahashes per second (EH/s).

Cost Decline Since Last Year

The costs for these high-efficiency ASICs have consistently declined since June 2020 when Bitcoin’s freefall caused it to drop below $20,000 resulting in far less profitable BTC mining operations than during the bull market. Despite Bitcoin returning above $26,000 in March, little has been done to break the trend due largely in part to the increasing efficiency of ASIC machines over time.

Increased Mining Efficiency

As more efficient miners are released and as cryptocurrency prices fluctuate significantly more quickly than the development cycle associated with new hardware models, companies must remain agile and adaptive if they want to maintain their competitive advantage in this space. This agility requires an increased focus on energy efficiency and optimization within ever-changing market conditions that can make or break miners‘ profitability margins overnight due to sudden shifts in price action or difficulty adjustments on major networks like Bitcoin or Ethereum.


CleanSpark’s new investment demonstrates that there are still opportunities available for those willing and able to take advantage of them despite current unfavorable market conditions for mining operations overall. By taking advantage of discounted pricing on new hardware models and remaining agile enough to adapt quickly with changing network dynamics and price fluctuations, companies like CleanSpark can increase their chances for long term success in this space while also helping reduce their environmental impact along the way.

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