• Mon. Mar 4th, 2024

Bitcoin Miner Cleanspark to Expand Mining Capacity By 45%

Oct 12, 2021
The University of California San Francisco Pays Ransom to Hackers in Bitcoin worth $1.4 Million

CleanSpark one of the biggest crypto mining company has announced that it would soon be expanding its mining capacity by 45%.  Earlier today the company has announced that it purchased 4,500 Antminer S19 bitcoin mining machines. However, the company has completed this purchase by using some of the bitcoins from its reserves.  The machines will start production by the start of the next month. However, the goal is to keep mining going on till July 2022.

The company has also said these machines running on their peak will take the company’s computing power by 450 PH/s.  This would be 45% increase in the company’s mining capacity.

However, the company CEO, Zach Bradford said that this expansion would value our customers. This expansion is the result of the paradigm shift in the digital industry.

With Bitcoin crossing the $50k mark, there has been an increased demand of Bitcoin by the investors. In order to fulfill the industrial need CleanSpark has no other option than to expand its mining capacity.

The CEO also said that despite the current mining capacity company is unable to fulfill the market demand. The company’s current mining capacity is over 10,000 miners. However, the company is making sure to have the space available for new batches. Over the next 12 months, the company will have 24,580 new miners in its capacity.

Earlier this year company also announced to increase its mining capacity. As the result, Clean Spark acquired 87,000 square foot data center in Norcross, Georgia. The goal behind this was ti increase the place for bitcoin mining. The fact is that the data-mining practices in that corner are totally carbon-free as CleanSpark believes in renewable energy consumption for the purposes of mining. CleanSpark using solar plants to derive energy.

The company’s CEO said that environment protection and the use of renewable energy sources for mining purposes are the core aspects of the company’s corporate social responsibility policies. He further added that CleanSpark believes in maintaining clean mining operations and avoid any unethical practice. He said that it is our responsibility to fulfill the needs of customers while fulfilling the social needs as well. In the future CleanSpark is looking to expand its mining capacity as Bitcoin’s demand has gone further up.

CleanSpark is not the only bitcoin mining company looking forward to expanding its capacity. These are exciting times in the digital market and miners are ready to dive into it.

CleanSpark has invested heavily to expand its Bitcoin reserves to capture the market. The amount company will earn from the sales of Bitcoin will be used to bring in the best practices regarding the environmentally friendly crypto policies.

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