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Company negotiates option upgrade to new S21 Pros, increasing the total purchased hashrate by 17%, to 23.4 EH/s
The Company reached its new hashrate high as its recently acquired data center in Dalton, GA, goes online
LAS VEGAS, April 12, 2024 /PRNewswire/ -- CleanSpark Inc. (NASDAQ:CLSK), America's Bitcoin Miner™, today announced it has exceeded 17 exahashes per second (EH/s) of operating hashrate and has exercised its option to purchase 100,000 Bitmain S21 Pros, or 23.4 EH/s of machines.
The machine purchase is an amendment to an existing agreement with Bitmain announced earlier this year. The amendment allowed the Company to purchase the S21 Pro model instead of the S21. The cost per terahash is maintained at the industry low price of $16 per terahash for the more efficient miner.
The S21 Pro operates at 15 joules per terahash (J/TH), a 14 percent improvement over the S21 miner which is currently the most efficient miner available on the market at 17.5 J/TH. The improved efficiency of the S21 Pro means that the company will still acquire the same number of machines, but with a 17 percent increase in hashrate, or approximately 3.4 EH/s more hashrate.
"Efficiency is the most important variable as we head into the halving," said Zach Bradford, CEO. "With the upgrade to the new S21 Pro, we expect that we have cemented our lead as the most efficient publicly traded bitcoin miner at scale in North America. Our extraordinary scale has allowed us to make meaningful gains in our bitcoin production without having to increase the energy use of our data centers. This is good not only for CleanSpark and our shareholders, but for the entire bitcoin network. After halving, many old and inefficient machines will go offline, increasing CleanSpark's organic market share while lowering the network's energy consumption. We are well-suited to take advantage of the opportunities that the halving affords and look forward to continuing our unmatched growth."
Under the agreement, the new S21 Pros are scheduled for delivery between June and December 2024.
CleanSpark is among the largest publicly traded bitcoin miners in the world, consistently outpacing its peers in terms of bitcoin produced per exahash of operating hashrate, according to publicly available data.
Posted In: CLSK
