CleanSpark is gearing up for the impending Bitcoin halving by planning to integrate an additional 23 exahashes per second (EH/s) of new Bitcoin miners. This proactive approach is in anticipation of a potential decline in hash rate following the halving event. Block Scholes, a provider of institutional Bitcoin data, offers insights into the expected impact of the halving on the network's performance. They foresee a rapid 25% decrease in the network's hash rate within the initial two weeks post-halving, which they predict will influence the difficulty adjustment differently compared to previous halving events.

Eamonn Gashier, the Founder and CEO of Block Scholes, underscores that despite an immediate reduction in rewards, the total block reward typically returns to pre-halving levels several months after the event. He points out that the upcoming halving will witness the shortest wait time for miners to encounter a difficulty adjustment, with 672 blocks before adjustment. Additionally, Gashier highlights the anticipation of a substantial drop in hash rate post-halving, potentially prolonging the recovery process due to its significant impact on miner revenue and the time required for a substantial difficulty adjustment.

Looking ahead, Block Scholes predicts the hash rate to continue its exponential growth trajectory in the long run, albeit at a slower pace. This growth is expected to be propelled by high miner rewards and adjustments in mining difficulty to offset the reduced block reward.

Meanwhile, CleanSpark Inc. has made significant strides in bolstering its mining capabilities, achieving a new high of over 17 exahashes per second (EH/s) as its recently acquired data center in Dalton, GA, commences operations. The company has also taken steps to upgrade and procure 100,000 Bitmain S21 Pros, augmenting its total purchased hash rate by 17% to 23.4 EH/s.

CEO Zach Bradford elucidates that this strategic maneuver aims to enhance efficiency in preparation for the halving, with efficiency being deemed the pivotal factor. The transition to the S21 Pro model, which operates at 15 joules per terahash, represents a 14% improvement in efficiency over the S21 model. CleanSpark anticipates that this efficiency enhancement will potentially bolster its market share post-halving while concurrently reducing overall network energy consumption.

As the halving draws near, both CleanSpark and the broader Bitcoin mining industry may undergo significant transformations, including unprecedented price discovery within the current Bitcoin cycle.