Bitcoin Mining Continues To Expand Despite Profitability Challenges

Hashrate Index reported a important 44% driblet successful Bitcoin mining profitability, presently astatine $0.071 TH/s per day, implicit the past 12 months. Also, miners person seen an 82% alteration since the crypto marketplace roar successful precocious 2021.

But amidst this important diminution successful profitability, a mining company, ClarkSpark, defies the inclination by aggressively expanding its mining instrumentality fleet this year. This shows that profitability issues are not holding backmost mining companies.

The steadfast revealed its latest determination connected June 1, purchasing 12,500 brand-new Antminer S19 XP units for a staggering $40.5 million. 

Notably, the woody was secured astatine a singular complaint of $23 per terahash per 2nd (TH/s), importantly little than the contiguous average market price.

Bitcoin Miner Purchase of 12,500 Antimer S19 XP Mining Machines

Based connected the acquisition agreement, the shaper is scheduled to vessel 6,000 of the 12,500 machines successful June, with the remaining 6,500 units acceptable for shipping successful August. These cutting-edge mining machines volition beryllium deployed crossed the company’s precocious facilities.

CleanSpark claims that the machine, Antimer S19 XP has a 21.5 joules per terahash power-efficiency standing and a Bitcoin mining compute powerfulness of 141 TH/S each.

According to the CEO of CleanSpark:

“This acquisition ensures that we are prepared to conscionable and perchance transcend our year-end people of 16 EH/s.”

CEO Zach Bradford further stressed that acquiring these further machines could regenerate its existent fleet’s units consuming implicit 30 joules per terahash. 

The CleanSpark website shows 67,700 mining machines moving and has mined 2,395 BTC wrong the past year.

Despite the downturn successful the mining market, CleanSpark inactive made waves successful February with the acquisition of 20,000 Antminer S19j Pro+ units. The steadfast inactive made different acquisition of 45,000 S19 XP ASIC rigs to their mining fleet successful April. 

These strategical purchases solidify their committedness to staying astatine the forefront of Bitcoin mining technology.

Bitcoin Miners Achieve New Milestones

In different caller development, Compass Mining is expanding its cognition by venturing into Ohio, a strategical determination to further fortify its beingness successful the mining sector.

Meanwhile, Bitfarms announced that it had mined 459 BTC successful May, representing a accumulation summation of 6.5% year-on-year.

Bitcoin trends upward connected the illustration l BTCUSDT connected Tradingview.com

The company’s Chief miner posits that: “A 47% year-over-year summation successful our hash complaint was offset by a 65% summation successful web trouble successful the aforesaid period.”

In addition, Ciphere Mining announced it had mined 493 BTC with a Hash Rate capableness of 6.0 EH/s successful May 2023.

Also, Cipher Mining concluded the period of May with a regular mining imaginable of astir 17.4 bitcoin, solidifying its presumption arsenic a cardinal subordinate successful the industry.

Featured representation from Pixabay and illustration from Tradingview.com