CleanSpark adds another 22,860 Bitcoin mining rigs to boost production capacity

CleanSpark Inc (NASDAQ:CLSK) said it has secured “multiple” contracts for equipment to boost its bitcoin mining capacity.

The contracts for the mining equipment will allow the company to meet its objective of a total rate capacity of more than 1.1 EH/s by this summer.

CleanSpark said it had acquired a total of 22,680 S19j Pro and S19 Pro Antminers for future delivery under annual contracts. Once these units are delivered and deployed, CleanSpark expects that it will be able to increase its total mining production capacity to over 3.2 EH/s.

READ: CleanSpark buys 4,778 more Bitcoin mining rigs, works toward carbon-free mining

CleanSpark CEO Zach Bradford said in a statement that the new acquisitions are a “significant milestone” for the Salt Lake City-based company.

“Time is money in this industry, and we wanted to ensure that we have both our immediate needs covered but we also wanted to look to the future to ensure we had a reliable baseline supply of future miner deliveries secured to support our long-term growth,” Bradford added.

“In addition to these orders, we will continue to source miners on a periodic basis to further increase or upgrade our total mining capacity. The miners we have secured are expected to allow us to increase our total mining capacity ten times by mid-2022.”

Carbon-free mining

Bradford noted that the firm is “actively evaluating” multiple locations for additional expansion with a focus on sites supplied by clean energy sources. CleanSpark recently announced that its Atlanta location is now 95% carbon-free – a figure it hopes to increase to 98% in the coming months, according to Bradford. Energy is currently sourced primarily from nuclear, hydroelectric, solar and other renewables.

“We believe that being a good corporate citizen is imperative and will continue to focus on the Company’s environmental impact at future sites,” the CleanSpark CEO said.

The firm is currently mining at scale with a very small carbon footprint and expects to have approximately 45MW of 95% carbon-free power dedicated to Bitcoin mining under management by summer 2021.

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Story by ProactiveInvestors