Regardless of a 44% decline in Bitcoin (BTC) mining profitability over the past 12 months, some Bitcoin mining corporations have continued to construct and enhance manufacturing, in response to latest bulletins.
On June 1, American Bitcoin mining agency CleanSpark introduced that it had bought 12,500 brand-new Antminer S19 XP items for $40.5 million. The deal labored out at $23 per terahash per second (TH/s), which is decrease than the common market worth.
Sizzling off the press! Extra miners have been bought by $CLSK for decrease than the present common market worth. Roughly 12,500 Antminer S19 XP items have been purchased for $40.5 million – or $23 per terahash.
The items have a power-efficiency ranking of 21.5 joules per terahash… pic.twitter.com/TKRxhWXlzx
— CleanSpark Inc. (@CleanSpark_Inc) June 1, 2023
The information comes as Bitcoin mining issue reached an all-time excessive of over 50 trillion on June 1, placing additional strain on miners. The community hash price was additionally close to its peak stage at 395 EH/s on Could 30.
CleanSpark’s buy settlement stipulated that 6,000 machines are scheduled to be shipped by the producer in June, and the rest will probably be shipped in August.
Antminer S19 XP items have a hash price of 141 TH/s, with the mixed buy offering a further whole hash price of 1.76 exahashes per second to its present 6.7 EH/s. Zach Bradford, CEO of CleanSpark, mentioned:
“This buy ensures that we’re ready to satisfy and probably exceed our year-end goal of 16 EH/s.”
CleanSpark’s mining farms are positioned in Georgia. Based on its web site, the agency has 67,700 mining machines in operation and has mined 2,395 BTC year-to-date.
The corporate has continued its enlargement regardless of declining Bitcoin mining profitability, which has declined to $0.071 per TH/s per day, down 44% over the previous 12 months and 82% because the crypto market peak in late 2021, in response to Hashrate Index.
In February, CleanSpark purchased 20,000 brand-new Antminer S19j Pro+ units and in April it added 45,000 S19 XP ASIC rigs to its fleet.
Related: Mining difficulty passes 50 trillion — 5 things to know in Bitcoin this week
In other recent company updates, Bitfarms announced that it had mined 459 BTC in May, increasing production by 6.5% year-on-year. “A 47% year-over-year increase in our hash rate was offset by a 65% increase in network difficulty in the same period,” said Chief Mining Officer Ben Gagnon.
Cipher Mining announced a record production in May with 493 BTC mined. The increases were due to the transaction fee spike during the BRC-20 memecoin minting craze that peaked in early May.
On May 31, Compass Mining inked a deal with hosting provider Arthur Mining to open a new facility in Ohio.
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