Cipher Mining Announces October 2024 Operational Update
Cipher Mining (NASDAQ:CIFR) has released its October 2024 operational update. The company mined approximately 168 BTC during the month, including power sales estimates equivalent to 4.5 bitcoin and 30 BTC mined at JV data centers. Cipher sold 248 BTC as part of its treasury management, ending October with a balance of 1,428 BTC. The company maintains 77,000 deployed mining rigs with a month-end operating hash rate of 10.7 EH/s. During October, Cipher began upgrading its mining fleet at Odessa and continued development of the new Black Pearl data center.
Cipher Mining (NASDAQ:CIFR) ha rilasciato il suo aggiornamento operativo di ottobre 2024. L'azienda ha estratto circa 168 BTC durante il mese, inclusi stime di vendite di energia equivalenti a 4,5 bitcoin e 30 BTC estratti nei centri dati della JV. Cipher ha venduto 248 BTC come parte della gestione del suo tesoro, chiudendo ottobre con un saldo di 1.428 BTC. L'azienda mantiene 77.000 apparecchiature minerarie distribuite con una potenza di hash operativa a fine mese di 10,7 EH/s. Durante ottobre, Cipher ha iniziato l'aggiornamento della sua flotta mineraria a Odessa e ha continuato lo sviluppo del nuovo centro dati Black Pearl.
Cipher Mining (NASDAQ:CIFR) ha publicado su actualización operativa de octubre de 2024. La empresa extrajo aproximadamente 168 BTC durante el mes, incluyendo estimaciones de ventas de energía equivalentes a 4,5 bitcoin y 30 BTC extraídos en los centros de datos de la JV. Cipher vendió 248 BTC como parte de la gestión de su tesorería, cerrando octubre con un saldo de 1.428 BTC. La empresa mantiene 77.000 equipos de minería desplegados con una tasa de hash operativa de 10,7 EH/s a finales de mes. Durante octubre, Cipher comenzó a actualizar su flota minera en Odessa y continuó desarrollando el nuevo centro de datos Black Pearl.
사이퍼 마이닝 (NASDAQ:CIFR)이 2024년 10월 운영 업데이트를 발표했습니다. 이 회사는 해당 월에 약 168 BTC를 채굴했으며, 이에는 4.5 비트코인에 해당하는 전력 판매 추정치와 JV 데이터 센터에서 채굴한 30 BTC가 포함됩니다. 사이퍼는 재무 관리의 일환으로 248 BTC를 판매했으며, 10월 말 기준으로 1,428 BTC의 잔고를 유지하고 있습니다. 이 회사는 77,000개의 채굴 장비를 유지하고 있으며, 월말 운영 해시 레이트는 10.7 EH/s입니다. 10월 동안 사이퍼는 오데사에서 채굴 함대 업그레이드를 시작했으며, 새로운 블랙 펄 데이터 센터 개발을 계속했습니다.
Cipher Mining (NASDAQ:CIFR) a publié sa mise à jour opérationnelle pour octobre 2024. L'entreprise a extrait environ 168 BTC durant le mois, y compris des estimations de ventes d'énergie équivalentes à 4,5 bitcoins et 30 BTC extraits dans les centres de données de la JV. Cipher a vendu 248 BTC dans le cadre de la gestion de sa trésorerie, terminant octobre avec un solde de 1.428 BTC. L'entreprise maintient 77.000 machines de minage déployées, avec un taux de hachage opérationnel à la fin du mois de 10,7 EH/s. En octobre, Cipher a commencé à mettre à niveau sa flotte de minage à Odessa et a poursuivi le développement du nouveau centre de données Black Pearl.
Cipher Mining (NASDAQ:CIFR) hat sein Betriebsupdate für Oktober 2024 veröffentlicht. Das Unternehmen hat im Laufe des Monats etwa 168 BTC abgebaut, einschließlich geschätzter Stromverkäufe, die 4,5 Bitcoin entsprechen, und 30 BTC, die in JV-Rechenzentren abgebaut wurden. Cipher hat 248 BTC im Rahmen seines Treasury-Managements verkauft und schloss den Oktober mit einem Saldo von 1.428 BTC. Das Unternehmen wartet 77.000 eingesetzte Mining-Rigs mit einer Betriebshashrate von 10,7 EH/s zum Monatsende. Im Oktober begann Cipher mit der Aufrüstung seiner Mining-Flotte in Odessa und setzte die Entwicklung des neuen Black Pearl-Rechenzentrums fort.
- Substantial bitcoin holdings of 1,428 BTC
- Strong operational capacity with 77,000 deployed mining rigs
- Significant hash rate of 10.7 EH/s
- Monthly production of 168 BTC
- Net decrease in BTC holdings due to selling more BTC (248) than mined (168) in October
Insights
The October operational update reveals strong mining performance with 1,168 BTC mined and a healthy balance sheet showing 1,428 BTC held. With Bitcoin's price at
The strategic sale of 248 BTC indicates prudent treasury management, balancing cash flow needs while maintaining substantial crypto holdings. With the current market conditions and Bitcoin's price strength, this operational efficiency positions Cipher Mining favorably in the competitive mining landscape.
NEW YORK, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Cipher Mining Inc. (NASDAQ:CIFR) (“Cipher” or the “Company”) today released its unaudited production and operations update for October 2024.
Key Highlights
| Key Metrics | October 2024 |
| BTC Mined1 | 168 |
| BTC Sold | 248 |
| BTC Held | 1,428 |
| Deployed Mining Rigs | 77,000 |
| Month End Operating Hash Rate (EH/s) | 10.7 |
1 Includes October power sales estimates (based on current meter data and nodal prices) equivalent to 4.5 bitcoin (using month-end bitcoin price of
Management Commentary for October
During the month, the Company’s operations and construction teams began executing on the upgrade of the mining fleet at Odessa and continued to develop the new Black Pearl data center.
For a business update on the Company, please refer to our 3rd quarter business update call from Thursday, October 31st – link to the call here.
Bitcoin Production and Operations Updates for October 2024
Cipher produced ~1681 BTC in October. As part of its regular treasury management process, Cipher sold ~248 BTC in October, ending the month with a balance of ~1,428 BTC.
Rig Upgrade Deployment at Odessa
1 Includes October power sales estimates (based on current meter data and nodal prices) equivalent to 4.5 bitcoin (using month-end bitcoin price of
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:
Josh Kane
Head of Investor Relations at Cipher Mining
josh.kane@ciphermining.com
Media Contact:
Ryan Dicovitsky / Kendal Till
Dukas Linden Public Relations
CipherMining@DLPR.com
FAQ
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