CleanSpark’s Post

Introducing our January 2024 monthly mining update, with more operating hashrate on the horizon 🌄: *Monthly bitcoin production: 577 *Total BTC holdings: 3,573 *Deployed fleet: 89,237 *Month-end fleet efficiency: 26.4 J/TH *Current hashrate: 10.09 EH/s Crews in Sandersville are racking machines in preparation for a February 6 energization date. The first 100 MW are expected to be fully live by mid-February, delivering an expected hashrate of 4.6 EH/s. The remaining 50MW of the expansion is undergoing equipment testing by the manufacturer. In addition, permitting is underway for the expansion of CleanSpark's Dalton campus. The 15MW expansion is expected to double the operating hashrate there to 1.6 EH/s. “We have a unique relationship with the City of Dalton, which owns and operates its own utility, whereby we are compensated to operate as the city’s only interruptible load during times of emergency power needs. We view this as a best-in-class partnership and as an example of some of the creative ways that bitcoin miners are working with utilities to improve grid performance, even in regulated markets like Georgia.” -Zachary Bradford, CEO Full press release: https://bit.ly/3SFPD67

Leading Bitcoin mining company Bitfarms (TSE: BITF) has announced a significant expansion plan that will triple its hashrate by the end of 2024. The company has secured nearly 88,000 new high-performance mining rigs, including the latest Bitmain T21 and S21 models, the company announced this week in its March 2024 Production and Operations Update. These additions build upon Bitfarms' previous purchases, bringing Bitfarms on track to achieve a hashrate of 21 EH/s (exahashes per second) by year-end. This represents a threefold increase from their current capacity. L. Geoffrey Morphy, ICD.D, president and CEO of Bitfarms, emphasized the strategic importance of these upgrades: "Securing these miners is a key part of our strategy to drive rapid and meaningful improvements across three principal operating metrics: hashrate, energy efficiency, and operating costs per terahash." The new miners boast superior efficiency, consuming 38% less power per unit of hashrate compared to previous models. This focus on efficiency aligns with Bitfarms' commitment to utilizing clean energy sources like hydroelectricity, the firm said.

BITFARMS ANNOUNCES $240M INVESTMENT TO UPGRADE BITCOIN MINING EQUIPMENT - Bitfarms, a leading Bitcoin mining firm, announces a significant investment of $240 million aimed at enhancing its mining infrastructure. - As a result of this strategic move, the post-halving hash rate will reportedly increase to 21 EH/s and the operating capacity will rise by 83%, to 440 megawatts. - Bitfarms' preparations for the Bitcoin halving revolve around boosting performance and maximizing profitability. Investment Allocation and Expansion Plans: - The investment involves various initiatives, including the acquisition of Bitmain's Bitcoin Miner T21. - Bitfarms has already procured 35,888 T21 miners and exercised a purchase option for an additional 28,000 units. - The firm plans further acquisitions, including 19,280 Bitmain T21 miners, 3,888 Bitmain S21 miners, and 740 Bitmain S21 hydro miners. - Bitfarms earned 286 BTC through mining in March 2024, boasting a monthly operating hash rate of 6.5 exahashes per second (EH/s). - The company has sold nearly all the Bitcoin it mined over the past two months, channeling the proceeds back into expanding its mining operations. Image: Forbes

Bitcoin mining firm CleanSparks said that it will acquire four new mining facilities in a press release published on Feb. 6. The company said it has entered definitive agreements to acquire three “turnkey” Bitcoin mining facilities in Mississippi. Zach Bradford, CEO of CleanSpark, said: “With the addition of Mississippi to our portfolio, we are gradually increasing our geographic diversity and expect to apply our proven track record of success in this new and exciting operating environment.” The acquisition of those three locations involves a $19.8 million cash deal and is planned to close within 21 days. After the deal is closed, the three Mississippi facilities will have a combined hashrate of 2.4 EH/s (exahashes per second). CleanSpark announced that it will acquire another mining facility under construction in Dalton, Georgia. That deal involves an initial cash payment of $3.4 million, and another planned $3.5 million investment. CleanSpark expects that the project will be completed and operational by April 2024. The company expects to see 2.4 EH/s across all Dalton locations, each with 0.8 EH/s. CleanSpark reports 10 EH/s, targets fivefold increase CleanSpark’s announcement indicates that it has a total of 10 EH/s of hashpower across its Georgia locations (Dalton, Sandersville, Washington, College Park), Mississippi, and co-locations. Expansions should bring that total to 20 EH/s. CleanSpark announced in January that it had entered an agreement to obtain several thousand Antminer S21 Bitcoin mining machines. The company said that it purchased the first 60,000 devices for $193.2 million, and the agreement allows for an additional 100,000 devices. CleanSpark has stated that this acquisition will help it achieve a total hashrate of 50 EH/s. CleanSpark stock (CLSK) was up 0.94 points (12.11%) on Feb. 6, outperforming its rival crypto mining firms. Riot Platforms(RIOT) was up 0.47 points (4.55%) over the same period, while Marathon Digital(MARA) was up 0.42 points (2.52%). source: CryptoSlate #ICN #web3news #CleanSpark #Bitcoin

New blog post at #Minerset about 'Understanding Bitcoin Mining Pools.' We explain what mining pools are, how they work, and how they pay out, so you can pick the best one for your mining needs. Whether it's PPS, PROP, or PPLNS. Learn how to get the most out of your mining efforts https://lnkd.in/dDdxfAbK #BTC #MiningPools

Mining - Bitcoin Mining Hardware Market Outlook 2024-2031: Trends - https://lnkd.in/dUkDZH2m Bitcoin Mining Hardware MarketWMR has added the Global Bitcoin Mining Hardware Market Report to its database, providing a comprehensive assessment of the factors shaping the market's

Bitmain launches Antminer S21 Professional, its most superior Bitcoin miner https://lnkd.in/dHJt6BZA As we speak, one of many largest Bitcoin mining rig producers, Bitmain, introduced the launch of the Antminer S21 Professional on the World Digital Mining Summit (WDMS) 2024, an occasion organized by the corporate. 💥ANTMINER S21 Professional not too long ago launched❗️234T ❗️15.0J/T📈Create a brand new Hashrate degree pic.twitter.com/wZyUv7pbOQ — BITMAIN (@BITMAINtech) March 29, 2024 The brand new system, an improve to its most effective mining rig, the S21, is noticeably extra environment friendly and highly effective than the earlier model of the system. Irene Gao, Vice President of Mining at Bitmain, highlighted in her announcement how the Antminer S21 Professional has a hash price of 234 TH/s and an power effectivity ratio of 15.0 J/TH. In distinction, the Antminer S21 has a hash price of 200 TH/s and an influence consumption effectivity ratio of 17.5 J/TH. Gao additionally highlighted how sturdy the S21 Professional is. “It has the power to deal with tougher environments,” he mentioned, earlier than sharing that the system can stand up to temperatures as much as 45 levels Celsius (113 levels Fahrenheit). The post-coupon US greenback to terahash price for the system is $18.9/TH and Bitmain will start delivery the system in Q3 2024. This announcement comes simply seven months after Bitmain launched the S21. The S21 was rapidly adopted by Bitcoin miners because it was already bought out by way of the corporate's web site. Bitmain now not has Antminer S21 mining gadgets in inventory. “We really consider that this new product will probably be useful so that you can make your long-term plans for mining growth, particularly earlier than the brand new cycle,” Gao added. For extra data on Antminer S21 Professional, keep tuned for updates on the Bitmain web site. Supply hyperlink

The mining industry is discussing hashrate contracts to offset rising costs Halving has put tremendous pressure on the bitcoin mining industry. The reduction in the reward per block from 6.25 BTC to 3.125 BTC during the April 2024 halving has had a significant impact on the bitcoin mining industry, forcing some miners to leave the industry due to increased costs and reduced reward per block. The mining industry is already discussing hash rate contracts to offset the rising costs. These contracts allow miners to sell their future hashrate for cash, providing much needed financial support. Miners can use the proceeds from these contracts to buy more mining equipment. These contracts can be for 3, 6, and 12 months. Of course, there are risks to these contracts that all parties need to be sure to consider. While large miners in the US often have access to traditional fundraising methods such as IPOs or corporate debt, smaller players have only limited options. It's worth noting that halving has put tremendous pressure on the industry. A BitFuFu report showed a 168% increase in the cost of bitcoin mining over the past year. Many mining companies are fighting for their survival, with some even diversifying into artificial intelligence and high performance computing. Similar challenges are being highlighted in a recent report by JPMorgan, which states that US miners such as Griid, Stronghold and Core Scientific are facing serious problems due to their high debt-to-capital ratios. There is also consolidation in the industry globally, with large mining companies acquiring competitors. In particular, we can mention the acquisition of Griid by CleanSpark and Stronghold by Bitfarms.

Mining - Bitcoin miners surge 10% after Trump vows to support US mining industry - https://lnkd.in/db9AAJc7 Bitcoin Mining stocks soared more than 10% on June 12, following Donald Trump's pledge to support US mining operations if elected president, boosting industry confidence. Bitcoin mining

Bitmain launches Antminer S21 Professional, its most superior Bitcoin miner https://lnkd.in/d79tJqMc In the present day, one of many largest Bitcoin mining rig producers, Bitmain, introduced the launch of the Antminer S21 Professional on the International Digital Mining Summit (WDMS) 2024, an occasion organized by the corporate. 💥ANTMINER S21 Professional lately launched❗️234T ❗️15.0J/T📈Create a brand new Hashrate degree pic.twitter.com/wZyUv7pbOQ — BITMAIN (@BITMAINtech) March 29, 2024 The brand new system, an improve to its most effective mining rig, the S21, is noticeably extra environment friendly and highly effective than the earlier model of the system. Irene Gao, Vice President of Mining at Bitmain, highlighted in her announcement how the Antminer S21 Professional has a hash fee of 234 TH/s and an power effectivity ratio of 15.0 J/TH. In distinction, the Antminer S21 has a hash fee of 200 TH/s and an influence consumption effectivity ratio of 17.5 J/TH. Gao additionally highlighted how sturdy the S21 Professional is. “It has the flexibility to deal with more difficult environments,” he mentioned, earlier than sharing that the system can face up to temperatures as much as 45 levels Celsius (113 levels Fahrenheit). The post-coupon US greenback to terahash fee for the system is $18.9/TH and Bitmain will start delivery the system in Q3 2024. This announcement comes simply seven months after Bitmain launched the S21. The S21 was shortly adopted by Bitcoin miners because it was already bought out through the corporate's web site. Bitmain not has Antminer S21 mining units in inventory. “We actually consider that this new product might be useful so that you can make your long-term plans for mining growth, particularly earlier than the brand new cycle,” Gao added. For extra info on Antminer S21 Professional, keep tuned for updates on the Bitmain web site. Supply hyperlink