Cipher Mining Announces September 2024 Operational Update
Cipher Mining Inc. (NASDAQ:CIFR) released its unaudited production and operations update for September 2024. Key highlights include:
- 1155 BTC mined
- 923 BTC sold
- 1,512 BTC held
- 78,000 deployed mining rigs
- 9.31 EH/s month-end operating hashrate
The company successfully navigated the final month of 4CP in Texas. Cipher is preparing for an upgrade of the mining fleet at Odessa, expected in the coming weeks. Construction of the new Black Pearl data center continues and is on track for energization by the end of Q2 2025. Cipher also closed the acquisition of the 300 MW Barber Lake site, which is considered ideal for HPC hosting. The purchase was largely funded through the sale of bitcoin from the company's treasury.
Cipher Mining Inc. (NASDAQ:CIFR) ha rilasciato il suo aggiornamento non auditato sulla produzione e le operazioni di settembre 2024. I punti salienti includono:
- 1155 BTC estratti
- 923 BTC venduti
- 1512 BTC detenuti
- 78.000 macchine per il mining attive
- Hashrate operativo di fine mese di 9,31 EH/s
L'azienda ha navigato con successo l'ultimo mese del 4CP in Texas. Cipher si sta preparando per un aggiornamento della flotta di mining a Odessa, previsto nelle prossime settimane. La costruzione del nuovo data center Black Pearl continua e prosegue secondo i piani per l'attivazione entro la fine del Q2 2025. Cipher ha anche concluso l'acquisizione del sito Barber Lake da 300 MW, considerato ideale per l'hosting HPC. L'acquisto è stato finanziato in gran parte attraverso la vendita di bitcoin dal tesoreria dell'azienda.
Cipher Mining Inc. (NASDAQ:CIFR) publicó su actualización de producción y operaciones no auditada para septiembre de 2024. Los puntos clave incluyen:
- 1155 BTC minados
- 923 BTC vendidos
- 1512 BTC en posesión
- 78,000 equipos de minería desplegados
- Tasa de hash operativa de fin de mes de 9.31 EH/s
La compañía navegó con éxito el último mes de 4CP en Texas. Cipher se está preparando para una actualización de la flota de minería en Odessa, que se espera en las próximas semanas. La construcción del nuevo centro de datos Black Pearl continúa y va por buen camino para energizarse a finales del segundo trimestre de 2025. Cipher también cerró la adquisición del sito Barber Lake de 300 MW, que se considera ideal para el alojamiento HPC. La compra se financió en gran parte a través de la venta de bitcoin del tesorería de la empresa.
Cipher Mining Inc. (NASDAQ:CIFR)는 2024년 9월에 대한 감사되지 않은 생산 및 운영 업데이트를 발표했습니다. 주요 내용은 다음과 같습니다:
- 1155 BTC 채굴
- 923 BTC 판매
- 1512 BTC 보유
- 78,000 대의 채굴 장비 배치
- 월말 운영 해시레이트 9.31 EH/s
회사는 텍사스 4CP의 마지막 달을 성공적으로 항해했습니다. Cipher는 오데사에서의 채굴 장비 업그레이드를 준비하고 있으며, 이 작업은 향후 몇 주 내에 예상됩니다. 새로운 블랙 펄 데이터 센터의 건설이 계속되고 있으며, 2025년 2분기 말까지 전력 공급에 대한 일정이 맞춰지고 있습니다. Cipher는 또한 300 MW 바버 레이크 사이트의 인수를 마쳤으며, 이는 HPC 호스팅에 이상적인 것으로 여겨집니다. 이 구매는 상당 부분 회사의 재무에 있는 비트코인 판매를 통해 자금을 조달했습니다.
Cipher Mining Inc. (NASDAQ:CIFR) a publié sa mise à jour de production et d'opérations non auditée pour septembre 2024. Les points clés incluent :
- 1155 BTC minés
- 923 BTC vendus
- 1512 BTC détenus
- 78 000 rigs de minage déployés
- Taux de hachage opérationnel de fin de mois de 9,31 EH/s
L'entreprise a navigué avec succès le dernier mois de 4CP au Texas. Cipher se prépare à une mise à niveau de la flotte de minage à Odessa, prévue dans les semaines à venir. La construction du nouveau centre de données Black Pearl se poursuit et est sur la bonne voie pour être opérationnel d'ici la fin du T2 2025. Cipher a également conclu l'acquisition du site Barber Lake de 300 MW, considéré comme idéal pour l'hébergement HPC. L'achat a été en grande partie financé par la vente de bitcoin provenant de la trésorerie de l'entreprise.
Cipher Mining Inc. (NASDAQ:CIFR) hat sein nicht geprüftes Produktions- und Betriebsupdate für September 2024 veröffentlicht. Zu den wichtigsten Punkten gehören:
- 1155 BTC geschürft
- 923 BTC verkauft
- 1512 BTC gehalten
- 78.000 eingesetzte Mining-Rigs
- Monatsend-Hashrate von 9,31 EH/s
Das Unternehmen hat den letzten Monat von 4CP in Texas erfolgreich gemeistert. Cipher bereitet sich auf ein Upgrade der Mining-Flotte in Odessa vor, das in den kommenden Wochen erwartet wird. Der Bau des neuen Black Pearl-Datenzentrums wird fortgesetzt und ist auf den Zeitplan zur Inbetriebnahme bis Ende Q2 2025 eingestimmt. Cipher hat auch den Erwerb des 300 MW Barber Lake-Standorts abgeschlossen, der als ideal für HPC-Hosting angesehen wird. Der Kauf wurde größtenteils durch den Verkauf von Bitcoin aus den Reserven des Unternehmens finanziert.
- Mined 1155 BTC in September
- Acquired 300 MW Barber Lake site for potential HPC hosting
- Odessa mining fleet upgrade expected to result in one of the most efficient fleets in the industry
- Black Pearl data center construction on track for Q2 2025 energization
- Successful navigation of 4CP in Texas
- Sold 923 BTC, potentially reducing future appreciation potential
- Decrease in BTC holdings from previous month (1,512 BTC held at end of September)
Insights
Cipher Mining's September operational update reveals steady progress and strategic moves. The company mined 1,155 BTC and sold 923 BTC, maintaining a balance of 1,512 BTC. With 78,000 deployed mining rigs and a 9.31 EH/s hashrate, Cipher demonstrates robust operational capacity.
The acquisition of the 300 MW Barber Lake site is a significant development, funded largely through bitcoin sales. This strategic decision to exchange volatile crypto assets for a tangible, high-demand infrastructure asset could provide more stable, long-term returns. The potential for HPC hosting at this site opens up new revenue streams, diversifying Cipher's business model.
The ongoing upgrade at Odessa and the construction of Black Pearl data center indicate Cipher's commitment to expanding and optimizing its operations. These investments should enhance efficiency and capacity, potentially boosting future bitcoin production and revenues.
Overall, Cipher's proactive management of assets and focus on infrastructure development suggest a forward-thinking approach aimed at long-term growth and stability in the volatile crypto mining sector.
Cipher Mining's operational update showcases impressive technological capabilities and strategic foresight. The company's 9.31 EH/s hashrate is substantial, placing them among the top-tier bitcoin mining operations globally. The planned upgrade at Odessa is particularly noteworthy, as it aims to create "one of the most efficient fleets of mining rigs in the industry."
The focus on efficiency is important in the competitive and energy-intensive field of bitcoin mining. By upgrading their equipment, Cipher can potentially increase their bitcoin production while optimizing energy consumption, which is vital for maintaining profitability, especially considering the upcoming bitcoin halving event.
The development of the Black Pearl data center and the acquisition of the Barber Lake site for potential HPC hosting demonstrate Cipher's diversification strategy. This move into high-performance computing infrastructure could provide a hedge against bitcoin mining volatility and open up new markets in the rapidly growing field of AI and data processing.
These technological advancements and infrastructure investments position Cipher well for future growth and adaptability in the evolving digital asset and computing landscape.
NEW YORK, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Cipher Mining Inc. (NASDAQ:CIFR) (“Cipher” or the “Company”) today released its unaudited production and operations update for September 2024.
Key Highlights
| Key Metrics | September 2024 |
| BTC Mined1 | 155 |
| BTC Sold | 923 |
| BTC Held | 1,512 |
| Deployed Mining Rigs | 78,000 |
| Month End Operating Hashrate (EH/s) | 9.3 |
| 1 Includes September power sales estimates (based on current meter data and nodal prices) equivalent to 4 bitcoin (using month-end bitcoin price of | |
Management Commentary for September
Cipher successfully navigated the final month of 4CP in Texas and mined ~1551 bitcoin in September.
During the month, the Company’s operational and construction teams finalized preparations for the upgrade of the mining fleet at Odessa, expected in the coming weeks, and continued to build the new Black Pearl data center.
“With the anticipated completion of the Odessa upgrade by year-end, we will have one of the most efficient fleets of mining rigs in the industry,” said Tyler Page, CEO of Cipher. “At the same time, construction at Black Pearl is progressing well and is on track for energization by the end of Q2 2025,” continued Mr. Page.
“September was also a big month for corporate development as we successfully closed the acquisition of the 300 MW Barber Lake site, which is an ideal candidate for HPC hosting. This purchase was largely funded through the sale of bitcoin from our treasury. We manage our bitcoin holdings opportunistically, with the goal of maximizing shareholder returns. Large-scale, energized sites are in high demand and rarely available today. Therefore, we believe this was a perfect opportunity to exchange a portion of our bitcoin holdings for an asset that can produce extraordinary returns for shareholders over time. We look forward to updating the market in the coming months on our progress and discussions on potential tenants at Barber Lake,” said Mr. Page.
Bitcoin Production and Operations Updates for September 2024
Cipher produced ~1552 BTC in September. Cipher sold ~923 BTC, ending the month with a balance of ~1,512 BTC.
Construction at Black Pearl Site
About Cipher
Cipher is focused on the development and operation of data centers for HPC hosting and bitcoin mining. Cipher is dedicated to expanding and strengthening the Bitcoin network's critical infrastructure, and building and managing data centers at the highest standards. Cipher aims to be a market leader in bitcoin mining growth and innovation, and a recognized data center construction and hosting partner to the largest HPC companies in the world. 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, including statements about our beliefs and expectations regarding our future results of operations and financial position, business strategy, timing and likelihood of success, potential expansion of or additional bitcoin mining data centers, expectations regarding the operations of mining centers, and management plans and objectives, are forward-looking statements and should be evaluated as such. Forward-looking statements include information concerning possible or assumed future results of operations, including descriptions of our business plan and strategies. 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, 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 filed with the Securities and Exchange Commission (“SEC”) on March 5, 2024, and in Cipher’s subsequent filings with the SEC. 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
1 Includes September power sales estimates (based on current meter data and nodal prices) equivalent to 4 bitcoin (using month-end bitcoin price of
2 Includes September power sales estimates (based on current meter data and nodal prices) equivalent to 4 bitcoin (using month-end bitcoin price of
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/87797714-49e9-472a-bf55-6bf522a2f285
FAQ
How many bitcoins did Cipher Mining (CIFR) produce in September 2024?
What is the current operating hashrate for Cipher Mining (CIFR) as of September 2024?
When is the Black Pearl data center expected to be energized for Cipher Mining (CIFR)?
What significant acquisition did Cipher Mining (CIFR) complete in September 2024?
