CleanSpark Inc (NASDAQ:CLSK) has announced the purchase of an additional 2,597 units of the Antminer S19 bitcoin (BTC) mining machines.
The company said the new S19 machines will increase its hashrate by over 250 peta hashes per second (PH/s), a nearly 20% improvement from its current hashrate.
“We continue to take advantage of favorable pricing in the spot market to purchase machines as opportunities present themselves, rather than locking up capital for long periods of time, while we use the standard strategy of future delivery contracts,” CleanSpark CEO Zach Bradford said in a statement.
READ: CleanSpark closed October with 720 Bitcoins
CleanSpark noted the new machines are scheduled for immediate delivery, adding to the 2,711 rigs already purchased and scheduled for delivery this month.
The company also said it is employing a sustainable business strategy of converting a portion of its BTC holdings to fund operations and expansion, with a goal of limiting shareholder dilution.
It added that it currently operates more than 12,800 miners, providing a hashrate of 1.3 exa hashes per second (EH/s).
CleanSpark is an energy technology and sustainable bitcoin mining company that is focused on solving modern energy challenges. The company and its subsidiaries also own and operate a fleet of bitcoin miners at its facilities outside of Atlanta, Georgia.
Contact Sean at sean@proactiveinvestors.com