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Seeking Alpha 2021-10-20 11:28:38

CleanSpark adds new miners amid bitcoin peaking to all-time high levels

CleanSpark (NASDAQ:CLSK) announced the purchase of an additional 2,250 units of the Antminer S19j pro bitcoin (NYSEARCA:BTC) mining machine amid bitcoin reaching its all-time high price. Currently, bitcoin is trading at 63,830.32 which is 2.7% higher; with the ProShares Bitcoin Strategy ETF debuting yesterday, SA Contributor BiotechValley Insights believes that "Bitcoin is going much lower, sell your bitcoin before the launch of Bitcoin Futures ETF." Machine delivery is scheduled to start next month and be completed by July 2022. The company foresees sustainable bitcoin mining capacity to increase by an additional 225 PH/s. While currently the company operates 10K+ miners, the total number of miners slated for delivery over the next 12 months is now 26,830. CleanSpark plans to use some of its BTC holdings for future payments of these units in similar way it used to purchase 4.5K units in early October. Shares trading 0.8% higher premarket

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