Clean Spark, Inc. For sustainable bitcoin mining and energy Announcing a new acquisition The company has acquired an additional 1,061 Whatsminer devices that are ready to mine new BTC from the blockchain.
Clean Spark is building its mining capabilities
The machines are located in a mining factory hosted by Coin Mint. They will give Clean Spark 93 additional beta hashes per second of computing power, thus boosting the company’s capabilities tenfold. Zach Bradford – CEO of Clean Spark – explained in a recent interview:
We are seeing unprecedented opportunities in this market. Our tried-and-true hybrid approach of co-locating our machines while expanding our mining facilities puts us in an excellent position to sustainably grow Bitcoin mining capacity in what is shaping up to be an exciting market for builders.
The acquisition comes at a time that could not be less profitable. The digital currency world has been suffering badly as of late, with the space losing nearly $2 trillion in total valuation since the beginning of the year. In addition, the world’s number one digital currency – bitcoin – lost more than 70 percent of its value after trading at a new all-time high of around $68,000 per unit in November. Now, the coin barely holds a position of $20,000.
As a result of the crash, many bitcoin miners have either had to terminate their operations or scale back their operations, because they are no longer making the profits they were making before. While many large companies are still operating, many hobbyist miners and smaller operations have had to close their doors or reduce the size of the business they are involved in.
Follow Bradford with:
These KPIs underscore the fact that our growth is outpacing the global hash rate, particularly our ability to stay ahead of network difficulty adjustments. We believe that our operational strategy that focuses on efficiency, uptime and execution will allow these metrics to continually improve.
Is there any profit to earn?
We are experiencing exactly what we saw four years ago in 2018. During that time, the cryptocurrency market was experiencing another major drop after the high of nearly $20,000 USD in late 2017. Many crypto miners were forced to exit. from the market. operate or limit their mining methods, as bitcoin mining costs now more than the revenue it was intended to earn.
Clean Spark has made a name for itself as it runs its machines solely on renewable energy. This has been a longstanding problem in the mining world where there are many CEOs and industry leaders who seem to believe that bitcoin mining is driving the planet to an early grave. They say that there is no possible way for Mother Earth to maintain the energy requirements of cryptocurrency mining, and there are many who are calling for a complete ban on the industry.
#Clean #Spark #Garners #Crypto #Mining #Machines