Cipher Mining Announces December 2024 Operational Update
Cipher Mining (NASDAQ:CIFR) has released its December 2024 operational update, highlighting significant achievements in mining operations. The company mined approximately 234 BTC during the month, sold 271 BTC, and maintained a balance of 21,344 BTC. With 75,000 deployed mining rigs, Cipher achieved a month-end operating hashrate of 13.5 EH/s and a fleet efficiency of 18.9 J/TH.
The company successfully completed the upgrade of its mining fleet at Odessa and made substantial progress on the Black Pearl data center development. Despite experiencing ~20% of annual allotted curtailment hours from their power provider in December, Cipher implemented enhanced technology solutions that enabled continued operations during approximately 80 hours of potential curtailment.
Cipher Mining (NASDAQ:CIFR) ha pubblicato il suo aggiornamento operativo di dicembre 2024, evidenziando importanti risultati nelle operazioni di mining. Durante il mese, l'azienda ha estratto circa 234 BTC, venduto 271 BTC e mantenuto un saldo di 21.344 BTC. Con 75.000 unità di mining attive, Cipher ha raggiunto un hashrate operativo alla fine del mese di 13,5 EH/s e un'efficienza della flotta di 18,9 J/TH.
L'azienda ha completato con successo l'aggiornamento della sua flotta di mining a Odessa e ha fatto notevoli progressi nello sviluppo del centro dati Black Pearl. Nonostante abbia subito circa il 20% delle ore annuali di riduzione allocate dal fornitore di energia a dicembre, Cipher ha implementato soluzioni tecnologiche avanzate che hanno consentito il proseguimento delle operazioni durante circa 80 ore di potenziale riduzione.
Cipher Mining (NASDAQ:CIFR) ha publicado su actualización operativa de diciembre de 2024, resaltando logros significativos en sus operaciones de minería. Durante el mes, la compañía minó aproximadamente 234 BTC, vendió 271 BTC y mantuvo un saldo de 21,344 BTC. Con 75,000 unidades de minería implementadas, Cipher logró una tasa de hash operativo al final del mes de 13.5 EH/s y una eficiencia de flota de 18.9 J/TH.
La empresa completó con éxito la actualización de su flota de minería en Odessa y avanzó considerablemente en el desarrollo del centro de datos Black Pearl. A pesar de experimentar aproximadamente el 20% de las horas de reducción anuales asignadas por su proveedor de energía en diciembre, Cipher implementó soluciones tecnológicas mejoradas que permitieron la continuidad de las operaciones durante aproximadamente 80 horas de posible reducción.
사이퍼 마이닝 (NASDAQ:CIFR)은 2024년 12월 운영 업데이트를 발표하며 채굴 작업에서의 주요 성과를 강조했습니다. 이 회사는 한 달 동안 약 234 BTC를 채굴하고, 271 BTC를 판매하며, 21,344 BTC의 잔액을 유지했습니다. 75,000개의 채굴 장비를 배치한 사이퍼는 월말 운영 해시레이트가 13.5 EH/s에 달하고, 함대 효율성이 18.9 J/TH에 달했습니다.
회사는 오데사에서 채굴 장비 업그레이드를 성공적으로 완료했으며, 블랙 펄 데이터 센터 개발에서도 상당한 진전을 이루었습니다. 12월에 전력 공급자로부터 연간 할당된 약 20%의 전력 중단 시간을 경험했지만, 사이퍼는 약 80시간의 잠재적인 전력 중단 동안 운영을 지속할 수 있도록 하는 향상된 기술 솔루션을 구현했습니다.
Cipher Mining (NASDAQ:CIFR) a publié sa mise à jour opérationnelle de décembre 2024, mettant en avant des réalisations importantes dans ses opérations minières. Au cours du mois, l'entreprise a extrait environ 234 BTC, vendu 271 BTC et maintenu un solde de 21 344 BTC. Avec 75 000 équipements de minage déployés, Cipher a atteint une hashrate opérationnelle en fin de mois de 13,5 EH/s et une efficacité de flotte de 18,9 J/TH.
L'entreprise a réussi à terminer la mise à niveau de sa flotte de minage à Odessa et a fait des progrès considérables dans le développement du centre de données Black Pearl. Bien qu'elle ait subi environ 20 % des heures de réduction annuelles allouées par son fournisseur d'énergie en décembre, Cipher a mis en œuvre des solutions technologiques améliorées qui ont permis la poursuite des opérations pendant environ 80 heures de réduction potentielle.
Cipher Mining (NASDAQ:CIFR) hat sein Betriebsupdate für Dezember 2024 veröffentlicht und dabei erhebliche Erfolge in den Mining-Operationen hervorgehoben. Das Unternehmen hat im Laufe des Monats etwa 234 BTC abgebaut, 271 BTC verkauft und einen Bestand von 21.344 BTC gehalten. Mit 75.000 eingesetzten Mining-Rigs erreichte Cipher am Monatsende eine Betrieb Hashrate von 13,5 EH/s und eine Flotteneffizienz von 18,9 J/TH.
Das Unternehmen hat das Upgrade seiner Mining-Flotte in Odessa erfolgreich abgeschlossen und erhebliche Fortschritte beim Bau des Black Pearl Rechenzentrums erzielt. Trotz der Erfahrung von etwa 20% der jährlich zugewiesenen Reduktionsstunden von ihrem Energieanbieter im Dezember implementierte Cipher verbesserte Technologielösungen, die den fortdauernden Betrieb während von rund 80 Stunden potenzieller Reduktion ermöglichten.
- Achieved 13.5 EH/s of self-mining hashrate
- Maintained high fleet efficiency at 18.9 J/TH
- Successfully completed Odessa facility upgrade
- Demonstrated resilience against power curtailment through technology solutions
- Substantial BTC holdings of 21,344 BTC
- Net decrease in BTC holdings (sold more than mined in December)
- Experienced ~20% of annual power curtailment hours in a single month
Insights
NEW YORK, Jan. 06, 2025 (GLOBE NEWSWIRE) -- Cipher Mining Inc. (NASDAQ:CIFR) (“Cipher” or the “Company”) today released its unaudited production and operations update for December 2024.
Key Highlights
| Key Metrics | December 2024 |
| BTC Mined1 | 234 |
| BTC Sold | 271 |
| BTC Held2 | 1,344 |
| Deployed Mining Rigs | 75,000 |
| Month End Operating Hashrate (EH/s) | 13.5 |
| Month End Fleet Efficiency (J/TH) | 18.9 |
1 Includes December power sales estimates (based on current meter data and nodal prices) equivalent to 2 bitcoin (using month-end bitcoin price of
2 Includes ~345 BTC pledged as collateral
Management Commentary for December
In December, the Company’s operations and construction teams completed the upgrade of the mining fleet at Odessa and made substantial progress on the development of the new Black Pearl data center. “We are thrilled to announce the completion of the Odessa upgrade, giving Cipher ~13.5 EH/s of self-mining hashrate with one of the most efficient fleets of mining rigs in the industry at ~18.9 J/TH,” said Tyler Page, CEO of Cipher.
Using new enhancements to our best-in-class data center operations technologies, we were able to draw power from the grid even when our behind-the-meter power provider exercised their curtailment option during the month. “Despite our power provider using ~
Bitcoin Production and Operations Updates for December 2024
Cipher produced ~2341 BTC in December. As part of its regular treasury management process, Cipher sold ~271 BTC in December, ending the month with a balance of ~1,3442 BTC.
Construction at Black Pearl site
About Cipher
Cipher is focused on the development and operation of industrial-scale data centers for bitcoin mining and HPC hosting. Cipher aims to be a market leader in innovation, including in bitcoin mining growth, data center construction and as a hosting partner to the world's largest HPC companies. To learn more about Cipher, please visit https://www.ciphermining.com/.
Forward Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws of the United States. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Any statements made in this press release that are not statements of historical fact, such as, statements about our beliefs and expectations regarding our future results of operations and financial position, planned business model and strategy, timing and likelihood of success, capacity, functionality and timing of operation of data centers, expectations regarding the operations of data centers, potential strategic initiatives, such as joint ventures and partnerships, and management plans and objectives, are forward-looking statements and should be evaluated as such. These forward-looking statements generally are identified by the words “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “seeks,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “strategy,” “future,” “forecasts,” “opportunity,” “predicts,” “potential,” “would,” “will likely result,” “continue,” and similar expressions (including the negative versions of such words or expressions).
These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Cipher and our management, are inherently uncertain. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: volatility in the price of Cipher’s securities due to a variety of factors, including changes in the competitive and regulated industry in which Cipher operates, Cipher’s evolving business model and strategy and efforts we may make to modify aspects of our business model or engage in various strategic initiatives, variations in performance across competitors, changes in laws and regulations affecting Cipher’s business, and the ability to implement business plans, forecasts, and other expectations and to identify and realize additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 filed with the Securities and Exchange Commission (“SEC”), as any such factors may be updated from time to time in the Company’s other filings with the SEC, including without limitation, the Company’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2024. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Cipher assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
Contacts:
Investor Contact:
Courtney Knight
Head of Investor Relations at Cipher Mining
courtney.knight@ciphermining.com
Media Contact:
Ryan Dicovitsky / Kendal Till
Dukas Linden Public Relations
CipherMining@DLPR.com
1 Includes December power sales estimates (based on current meter data and nodal prices) equivalent to 2 bitcoin (using month-end bitcoin price of
2 Includes ~345 BTC pledged as collateral
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/eed6e67d-a601-4ee9-b9a6-1bb690f97154
FAQ
How many Bitcoin did Cipher Mining (CIFR) produce in December 2024?
What is Cipher Mining's (CIFR) current hashrate after the Odessa upgrade?
How many Bitcoin did CIFR hold at the end of December 2024?
What was CIFR's mining fleet efficiency in December 2024?
How did CIFR handle power curtailment in December 2024?
