Bitcoin miner CleanSpark is expanding its mining capacity in the United States with the purchase of 20,000 new Antminer S19j Pro+ units for $43.6 million. The acquisition is expected to increase the company’s computing power by 37% and bring the total number of miners purchased during the bear market to 46,500 units.
According to a Feb. 16 statement, CleanSpark will pay $32.3 million for the machines after applying coupons at a 25% discount, or a total price per terahash (TH) of about $13.25. The Pro+ rigs are 22% more productive than their predecessors and are scheduled to ship in batches between March and May.
The company is taking advantage of the market’s lower rig prices to increase its mining capacity as Bitcoin (BTC) price recovers. According to Hashrate Index data, the current price per TH of ASICs with the same Bitcoin mining efficiency is currently $15.09, down significantly from $90.72 12 months ago. According to CleanSpark, the Antminer S19j Pro+ model offers a better return on investment compared to machines of the same ASIC generation.
“Once fully operational, they are expected to add 2.44 EH/s to CleanSpark’s existing 6.6 EH/s of bitcoin mining processing power (for a total of 9 EH/s), a 37% increase ‘ the company stated.
Bitcoin ASIC Price Index. Source: Hashrate Index
CleanSpark claims that the models acquired continue to be more attractive to its operations under current market conditions. “The S19j Pro+ delivers 122 terahash per machine, saving an average of 2 joules of energy per terahash compared to the same-generation S19j Pro model.”
A total of 15,000 of the new machines will be shipped to the company’s locations in the city of Washington, Georgia. CleanSpark announced a $16 million site expansion in January that is expected to increase the hash rate by 2.2 exahashes per second (EH/s), with the overall hash rate up to 8.7 EH /s will reach. The facility was acquired by the Company in August of last year prior to Mawson Infrastructure Group’s acquisition of the Sandersville facility.
After a tough 2022 with falling bitcoin prices and high electricity costs, publicly traded miners saw mining production and hash rates surge in January, according to analysis by the Hashrate Index. CleanSpark increased its bitcoin mining production by 50% during the month, reaching a record monthly production of 697 BTC. Its hash rate increased to 6.6 EH/s from 6.2 EH/s in December.
Other public mining companies such as Core Scientific, Riot, Marathon and Cipher have seen significant increases in Bitcoin production over the past month, helped by stable electricity prices and better weather conditions in the United States.