Cleanspark, the Nasdaq-listed bitcoin mining and energy technology company based in Nevada, has announced the purchase of 4,500 Bitmain Antminer S19 machines. The company said deliveries are expected to begin next month, and that the order was partially funded with a portion of its bitcoin holdings. According to Cleanspark, the new machines should add about 450 PH/s, or 0.45 EH/s, of hashpower, roughly matching the company’s current mining capacity.
Bitcoin Holdings Used to Support Expansion
A notable aspect of the deal is Cleanspark’s decision to use part of its bitcoin treasury to finance growth rather than rely solely on outside capital. CEO Zach Bradford described the move as a deliberate reinvestment decision aimed at expanding production and maximizing shareholder value through a market-based approach. He also said that using bitcoin to support operations and growth represents a shift from the more common North American mining model of simply holding mined coins on balance sheet.
The company added that its strategy is not limited to accumulation alone. In its view, the value of digital assets such as bitcoin also comes from their usefulness as a medium of exchange. By redirecting a portion of mined bitcoin into new mining equipment, Cleanspark is effectively putting some of those coins back into circulation while scaling its business.
Fleet Expected to Reach 24,580 Miners
Cleanspark said its miner fleet is expected to grow from about 10,000 units today to 24,580 machines over the next 12 months as scheduled deliveries arrive. The miner purchase also fits into a broader infrastructure expansion plan. In late December 2020, the company acquired U.S. bitcoin miner ATL Data Centers for $19.4 million. It also purchased a former Sprint/Nextel datacenter in Norcross, Georgia, where the new mining facility is expected to benefit from the state’s Simple Solar program.
The announcement comes amid a wider industry trend of large-scale miner procurement. Earlier in the year, Genesis Digital Assets bought 20,000 mining machines from Canaan, while Marathon ordered 30,000 rigs from Bitmain. Cleanspark’s latest order underscores how competition among major North American miners continues to center on scale, infrastructure, and rapid hashrate expansion.