CleanSpark buys 1,061 bitcoin miners at a ‘substantially discounted’ price

CleanSpark Inc. CLSK, -3.34% said Thursday that it has acquired 1,061 Whatsminer M30S bitcoin mining machines for use at Coinmint’s facility.

CleanSpark didn’t disclose what it paid for the miners but said they were acquired at a “substantially discounted price” compared with market prices from a few months ago.

The company said its computing power has increased 47% over the past six months, while its monthly bitcoin production has increased 50% over the same time.

CleanSpark’s stock fell 2.2% in premarket trading.

It has plummeted 56.4% over the past three months through Wednesday, while bitcoin BTCUSD, +0.49% has plunged 50.6% and the S&P 500 SPX, -2.02% has dropped 13.5%.

Original Article

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