Bitcoin

<p>CleanSpark, the second-largest public Bitcoin mining company by realized hashrate, has significantly expanded its mining capabilities by preordering 26,000 units of <a href="https://ultramining.com/en/manufacturers/bitmain/" rel="noopener noreferrer nofollow">Bitmain</a>’s S21XP immersion-cooled Bitcoin miners for $167.7 million. The purchase, made on August 7, secures 7.8 EH/s, with deliveries scheduled for October and November 2024. CleanSpark also secured an option to buy up to 50,000 additional units by July 2025, potentially boosting its capacity by another 15 EH/s. This option would cost $322.5 million, with a nonrefundable fee of $32.25 million. according to <a href="https://theminermag.com/news/2024-08-12/cleanspark-bitcoin-s21xp-167m/" rel="noopener noreferrer nofollow">Theminermag</a>.</p>
<p>Despite the expansion, CleanSpark's Q2 financials show unchanged hashcosts due to rising power costs, from $0.0476/kWh in Q1 to $0.0494/kWh in Q2. The company raised $365 million since Q2 through equity financing and opted not to sell any mined Bitcoin, showing confidence in its future profitability. In addition to expanding its fleet, CleanSpark purchased a corporate aircraft for $10.8 million in June, reflecting its growth ambitions.</p>

CleanSpark Expands Mining Fleet with $167M Bitmain Miner Purchase

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