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Seeking Alpha 2022-07-14 13:37:40

CleanSpark expands bitcoin mining capacity by 93 PH/s with new machine purchases

CleanSpark (NASDAQ:CLSK) acquired 1,061 Whatsminer M30S machines that are already mining bitcoin at Coinmint's renewable-powered co-location facility.This will lead to the addition of ~93 petahashes per second of computing power to its existing mining capacity.The company purchased the machines at a substantially discounted price compared to the spot market price from just a few months ago; this is the second bulk purchase of machines in approx. one month.Over the past six months, the company's computing power has increased by 47% while its monthly bitcoin production has grown 50% over the same time period.Shares trading 3.3% lower premarket. 

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