**CleanSpark Doubles Bitcoin Mining Capacity with $144.9 Million in New Hardware**
CleanSpark, a publicly traded US-based miner, has managed to survive the deep bear market that decimated many others in the mining industry. The company has now announced plans to expand its mining capacity dramatically by purchasing over $144.9 million worth of new mining hardware.
## Buying More Antminer S19 XP Miners
CleanSpark is buying 45,000 brand-new Antminer S19 XP miners from Bitmain for almost $145 million. This is in addition to other Antminer S19j Pro+ miners the company already bought. CleanSpark CEO Zach Bradford explained in a press release that the Antminer S19 XP is the most efficient ASIC miner currently available, making it a crucial part of the company’s aim to become one of the most efficient bitcoin mining facilities in the country.
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## Anticipated Installation and Capacity Increase
Bitmain is expected to send 25,000 ASIC devices to CleanSpark in August and the remaining 20,000 units in September. All the hardware will be installed in CleanSpark’s facility in Sandersville, Georgia, where the company is upgrading the location to support an additional 150 MW of capacity. Bradford suggests that the bear market has resulted in reduced ASIC prices, allowing CleanSpark to afford better hardware.
## Milestones and Goals
The company aims to have all the new hardware installed, which will increase capacity to 15.9 exahash per second, by the end of the year; this is a significant milestone for CleanSpark as it strives to achieve 16 exahash per second by year-end. Bradford explains that “our patience has paid off.”
## How CleanSpark Managed to Survive the Bear Market
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Many miners went bankrupt in 2020 when energy prices skyrocketed and bitcoin’s price kept falling; to make matters worse, the hash rate continued to rise, making it even harder to mine profitably. However, CleanSpark managed to withstand the bear market by buying up ASIC miners from failing bitcoin producers.
CleanSpark’s purchase of over $144.9 million in new mining hardware signifies its long-term commitment to the mining business. The company managed to survive the 2020 bear market, and with the installation of new hardware, it aims to become one of the most efficient bitcoin mining facilities in the US by the end of the year. CleanSpark is capitalizing on the bear market by acquiring some of the most advanced and pricey ASIC-miners available.