In a recent expansion that is intended to boost operational efficiency, CleanSpark Inc. has made a major purchase. The prominent bitcoin mining and energy technology company bought a new batch of 3,800 Avalon A1566I bitcoin miners from the Chinese tech manufacturer Canaan Inc. (NASDAQ: CAN). Beyond just benefiting CleanSpark by helping it grow its mining capacity, the collaboration marks a significant step in the firm’s mission to develop a more energy-efficient and sustainable mining fleet.
Expected to arrive in the fourth quarter of 2024, these cutting-edge mining machines will run at 249 terahash per second (TH/s) without overclocking. The Avalon A1566I model supports immersion cooling, an advanced technique where machines are submerged in a specially designed cooling liquid. For CleanSpark, this approach provides major benefits such as reducing overheating risks, extending hardware life, and enhancing mining performance.
Immersion cooling has become increasingly popular in Bitcoin mining due to its ability to maintain the hardware at stable, efficient temperatures. By submerging miners in liquid, CleanSpark hopes to counteract the heat build-up usually occurring in high-power mining operations, thereby boosting mining efficiency and output. This cooling method aligns well with CleanSpark’s goal of creating a more sustainable, cost-effective mining infrastructure.
With the integration of these new immersion-cooled miners, CleanSpark’s hash power will increase by an additional 946 petahash per second (PH/s) of SHA256 computational power, a substantial boost in their mining capabilities. This increase allows CleanSpark to enhance processing power, improving both transaction verification speed and overall network security, which could strengthen the company’s competitive edge within the sector.
For Canaan, the supplier of the new machines, this agreement is part of a broader strategy to increase its presence in North America, a growing hub for Bitcoin mining. As CleanSpark operates multiple facilities across the U.S., the partnership allows Canaan to build a strong foothold within the region. Canaan’s chairman and CEO Nangeng Zhang, expressed enthusiasm for the new partnership, highlighting their dedication to supporting the North American mining industry and creating growth opportunities through innovation.
Both CleanSpark and Canaan consider the collaboration a great opportunity to further sustainable and responsible Bitcoin mining practices. Through adopting immersion cooling, CleanSpark gains an operational advantage and supports a greener, more efficient approach to mining. This shift is a big reflection of the larger movement towards reducing energy waste and improving the sustainability of mining operations in the industry.
With these high-efficiency miners on the way, CleanSpark is set to take the lead in environmentally conscious mining. This could potentially lead to industry-wide improvements in mining practices and environmental impact.
About BillionDollarClub
BillionDollarClub (“BDC”) is a specialized communications platform with a focus on the biggest and brightest companies covered by IBN. It is one of 70+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, BDC is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists, and the general public. By cutting through the overload of information in today’s market, BDC brings its clients unparalleled recognition and brand awareness.
BDC is where breaking news, insightful content and actionable information converge.
To receive SMS alerts from BillionDollarClub, text “Billion” to 888-902-4192 (U.S. Mobile Phones Only)
For more information, please visit https://www.BillionDollarClub.com
Please see full terms of use and disclaimers on the BillionDollarClub website applicable to all content provided by BDC, wherever published or re-published: https://www.BillionDollarClub.com/Disclaimer
BillionDollarClub
Los Angeles, CA
www.BillionDollarClub.com
310.299.1717 Office
Editor@BillionDollarClub.com
BillionDollarClub is powered by IBN
