Hashrate Index reported a significant 44% drop in Bitcoin mining profitability, currently at $0.071 TH/s per day, over the past 12 months. Also, miners have seen an 82% decrease since the crypto market boom in late 2021.
But amidst this significant decline in profitability, a mining company, ClarkSpark, defies the trend by aggressively expanding its mining machine fleet this year. This shows that profitability issues are not holding back mining companies.
The firm revealed its latest move on June 1, purchasing 12,500 brand-new Antminer S19 XP units for a staggering $40.5 million.
Notably, the deal was secured at a remarkable rate of $23 per terahash per second (TH/s), significantly lower than the present average market price.
Bitcoin Miner Purchase of 12,500 Antimer S19 XP Mining Machines
Based on the purchase agreement, the manufacturer is scheduled to ship 6,000 of the 12,500 machines in June, with…
