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CleanSpark Inks Massive Miner Order To Prepare For Bitcoin Mania

January 9, 2024
x min read

There is a growing euphoria around Bitcoin mining. And CleanSpark is making moves to prepare for the future of rapidly rising Bitcoin prices.

What’s happening:

  • Bitcoin mining company CleanSpark (NASDAQ: CLSK) has announced a significant new purchase agreement to acquire more Bitcoin miners from Bitmain
  • The new purchase agreement with Bitmain will deliver 60,000 new S21 Bitcoin miners to CleanSpark in the coming months, with a call option for CleanSpark to acquire another 100,000 miners in the future

By the numbers:

  • The first 60,000 S21 Bitmain miners will be acquired for $193.2M USD
  • The remaining 100,000 S21 Bitmain miners could be acquired in the future for a fixed price of $16.00 USD per terahash

Why it matters:

  • During periods of extreme price appreciation for Bitcoin, Bitcoin mining equipment often spikes in both price and availability
  • By locking in a call option agreement with Bitmain, CleanSpark is able to secure fixed pricing on expanding their mining capacity should they choose to equip new data centres

Going deeper:

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