CleanSpark Exceeds 17 EH/s, Exercises And Upgrades Previously Announced Option For 100,000 Bitcoin Mining Machines
Portfolio Pulse from Benzinga Newsdesk
CleanSpark Inc. (NASDAQ:CLSK) announced it has exceeded 17 EH/s of operating hashrate and exercised an option to purchase 100,000 Bitmain S21 Pros, increasing its total purchased hashrate by 17% to 23.4 EH/s. This upgrade, from the previously agreed S21 to the more efficient S21 Pro, maintains the cost at $16 per terahash while improving efficiency by 14%. CEO Zach Bradford highlighted the upgrade's significance ahead of the bitcoin halving, positioning CleanSpark as a leader in efficiency and production in North America. The new machines are expected to be delivered between June and December 2024.
April 12, 2024 | 1:00 pm
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CleanSpark's strategic upgrade to Bitmain S21 Pros enhances its mining efficiency and positions it as a leader in the North American bitcoin mining sector, potentially increasing its market share and profitability.
The upgrade to more efficient mining machines at the same cost per terahash represents a significant improvement in operational efficiency and cost-effectiveness for CleanSpark. This move is likely to enhance its competitiveness and profitability, especially with the upcoming bitcoin halving which could increase the value of more efficient mining operations. The announcement also reinforces CleanSpark's position as a leader in the bitcoin mining industry, which could positively influence investor sentiment and the stock price in the short term.
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