Crypto mining firms have continued to increase production and add to their fleets despite depressed Bitcoin mining profitability and record-high difficulty.
reached an all-time high of over 50 trillion on June 1, putting further pressure on miners. The network hash rate was also near its peak level at 395 EH/s on May 30.
CleanSpark’s purchase agreement stipulated that 6,000 machines are scheduled to be shipped by the manufacturer in June, and the remainder will be shipped in August. Antminer S19 XP units have a hash rate of 141 TH/s, with the combined purchase providing an additional total hash rate of 1.76 exahashes per second to its current 6.7 EH/s. Zach Bradford, CEO of CleanSpark, said:
“This purchase ensures that we are prepared to meet and potentially exceed our year-end target of 16 EH/s.” CleanSpark’s mining farms are located in Georgia. According to its website, the firm has 67,700 mining machines in operation and has mined 2,395 BTC year-to-date.The company has continued its expansion despite declining Bitcoin mining profitability, which has declined to $0.071 per TH/s per day, down 44% over the past 12 months and 82% since the crypto market peak in late 2021, according to
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