Cleanspark, a publicly-listed bitcoin mining company, recently shared in its 10-Q report that it has acquired 26,000 units of Bitmain’s S21 XP immersion-cooled bitcoin mining machines. These types of cutting-edge immersion miners, known for their quieter operation and impressive hashrate performance, are gaining traction in the industry.
Cleanspark to Acquire Next-Gen Immersion-Cooled Mining Rigs From Bitmain
The bitcoin mining firm Cleanspark (Nasdaq: CLSK) disclosed that it has entered an agreement with Bitmain in the firm’s quarterly report to the U.S. Securities and Exchange Commission (SEC). “On August 7, 2024, the company entered into a future sales and purchase agreement with [Bitmain] for the purchase of bitcoin mining hardware,” Cleanspark’s 10-Q states. The filing further states:
The agreement provides for the purchase of 26,000 units of S21 XP immersion servers with a total rated hashrate of 7,800,000 terahashes at a total purchase price of $167,700, representing $21.5 per terahash.
What Is Immersion-Cooled Mining?
Lately, immersion-cooled miners have been gaining popularity, and Marathon Digital, now called MARA, has also jumped on the trend. The company recently transitioned 1.6 exahash per second (EH/s) of hashpower derived from air-cooled machines to quieter, immersion-cooled alternatives. These application-specific integrated circuit (ASIC) machines are essentially immersed in a non-conductive liquid coolant, which cools the devices far more efficiently than traditional air-cooled units, which rely solely on fans.
This improved cooling allows miners like Cleanspark to safely overclock their hardware, boosting performance by increasing the operating frequency beyond factory settings. However, this enhanced performance comes with a trade-off—higher power consumption. Bitmain’s Antminer S21 XP Immersion can achieve a hashrate of 300 terahash per second (TH/s) while consuming 4,050 watts of power.
It operates at a noise level of about 76 decibels and, along with immersion cooling, features four fans. Although the new S21 XP Immersion won’t hit the general market until Oct. 2024, large-scale miners are already securing deals with the manufacturer. Bitmain is also gearing up to launch the Antminer S21 XP Hydro, which is expected to deliver an impressive 473 terahash per second (TH/s) with an efficiency rating of 12.7 joules per terahash (J/T). Not to be outdone, Bitmain’s rival, Microbt, is also stepping into the spotlight with its own hydro-cooled machine, rumored to reach between 390 and 450 TH/s.
