CleanSpark recently announced a major infrastructure deal to capitalize on Bitcoin’s rising prices: it purchased 60,000 Bitmain S21 miners for $193.2 million. The machines are set to arrive between April and June 2024, and their average cost is $16.10 per terahash per second (TH/s).

Additionally, CleanSpark secured a call option to buy another 100,000 machines at a fixed price, potentially increasing its total capacity to 50 exahashes per second (EH/s), accounting for nearly 10% of Bitcoin’s network hash rate. This strategic move aims to protect against rising equipment prices in future bull markets, as Bradford claimed.

In February, CleanSpark also announced the acquisition of four new mining facilities—three in Mississippi and one in Dalton, Georgia—aiming to double its hash rate in the first half of 2024.

The Mississippi sites were purchased for $19.8 million, are expected to close within 21 days, and will contribute significantly to near-term revenue. The Dalton facility deal involves an initial payment of $3.4 million, with an additional $3.5 million invested to finalize the project by April.