By Chris Wack


CleanSpark Inc. shares were up 14% to $3.08 after the company said it bought 45,000 brand-new units of the Antminer S19 XP bitcoin mining machines for a total price of $144.9 million.

The bitcoin-mining company said all units are expected to be ready for delivery by the manufacturer before the end of September.

Once deployed, the units will add more than 6.3 exahashes per second of computing power to the company's current hashrate of 6.7 EH/s, a 95% increase.

According to the purchase agreement, the manufacturer will prepare 25,000 of the 45,000 units for delivery in August, while the remaining 20,000 units are expected to be ready for delivery in September.

The company plans to deploy all of the acquired units at its bitcoin mining facility in Sandersville, Ga., which is currently undergoing a planned 150-megawatt expansion. The machines will be deployed in multiple batches as they arrive on site and new rack-space becomes available, with all machines expected to be fully operational before year-end.

CleanSpark shares closed Monday's session up 11%, but are down 70% in the past 12 months.


Write to Chris Wack at chris.wack@wsj.com


(END) Dow Jones Newswires

04-11-23 1104ET