Crusoe Energy Systems

Sustainability-focused Bitcoin (BTC) mining company CleanSpark has snapped up another 3,843 cryptocurrency miners amid a backdrop of mining industry consolidation. The $5.9 million purchase of the Antminer S19J Pro Bitcoin miners announced by the company on Nov. 1 came at a price of $15.50 per terahash — far cheaper than the current market price of $22.94 for a machine with the same efficiency according to data from Hashrate Index. The purchase has brought its total number of machines to around 50,000 according to the company. CleanSpark said it’s purchased 26,500 miners since the start of the “bear market conditions” — a time when many mining firms have been forced to sell off mining equipment or even consider filing for bankruptcy. There is a possibility that the miners...