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Cipher Mining Inc. - CIFR STOCK NEWS

Welcome to our dedicated page for Cipher Mining news (Ticker: CIFR), a resource for investors and traders seeking the latest updates and insights on Cipher Mining stock.

Cipher Mining Inc. (NASDAQ: CIFR) is an emerging technology company dedicated to developing and operating Bitcoin mining data centers in the United States. By focusing on key infrastructure, the company plays a pivotal role in strengthening the Bitcoin network.

Cipher Mining is expanding its operations with significant projects, such as the Bear and Chief site expansions slated for completion in Q2 2024 and the upcoming Black Pearl data center project scheduled for 2025. With a current Bitcoin inventory of approximately 2,033 BTC and a strong balance sheet, Cipher is well-positioned to thrive in the post-halving Bitcoin mining environment.

The company has recently made notable advancements, including the upgrade of its mining fleet with Bitmain's S21 Pro rigs and Canaan's A1566 miners. These acquisitions are expected to enhance Cipher's mining efficiency and production capabilities. The company aims to achieve a self-mining hash rate of 13.5 EH/s with an efficiency of 18.6 J/TH by the end of 2024, expanding to 35 EH/s and a fleet efficiency of 15 J/TH by 2025.

In the first quarter of 2024, Cipher reported record net income and continued to invest in its growth, clearing and leveling over 50 acres for the Black Pearl data center project. The company has strategically partnered with Canaan and Bitmain to secure cutting-edge mining equipment, ensuring its readiness to capitalize on future opportunities.

Cipher Mining remains committed to innovation and market leadership in the Bitcoin mining industry. The company's strategic execution, best-in-class unit economics, and expanding infrastructure underscore its potential for sustained growth and value creation for shareholders.

News

Cipher Mining Announces 60 MW Expansion of its Bear and Chief Joint Venture Data Centers and Purchase of 16,700 New Miners from Canaan Inc.

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Cipher Mining Inc. (NASDAQ: CIFR) announced that Bear LLC and Chief Mountain LLC, in which Cipher holds 49% interests, have purchased 16,700 units of the latest generation Avalon A1466 miners from Canaan. The purchase represents an expansion of ~30MW, or ~1.25 EH/s, at each facility, with payment terms allowing for up to 30% of the total consideration to be delivered in the 90 days after delivery. Cipher's total self-mining capacity is expected to be ~8.4 EH/s after the new miners are installed.
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Cipher Mining Announces December 2023 Operational Update

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Cipher Mining Inc. (NASDAQ:CIFR) released its unaudited production and operations update for December 2023, showcasing an increase in BTC production despite a growth in network hash rate. The company sold 228 BTC in December and ended the month with a balance of 796 BTC. Cipher finished the year with ample total liquidity of approximately $120 million in bitcoin and dollars, with no debt overhang.
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Cipher Mining Purchases 7.1 EH/s of New Miners and Option to Purchase an Additional 8.7 EH/s of Latest Generation Miners from Bitmain

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Cipher Mining Inc. (CIFR) has announced the purchase of 7.1 EH/s of the latest generation Bitmain T21 miners for $99.5 million, with an option to acquire an additional 8.7 EH/s. This agreement aims to expand the company's mining capacity and efficiency, providing opportunities for near-term expansion and infrastructure buildout in 2024 and 2025.
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Cipher Mining Announces the Closing of its Acquisition of Black Pearl

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Cipher Mining Inc. (NASDAQ: CIFR) has closed the acquisition of a new Texas-based, ERCOT-approved site with interconnection up to 300 MW, expected to come online in 2025. The purchase was made through a previously announced Purchase and Sale Agreement with Trinity Mining Group, Inc., with the purchase price paid by delivering 2,397,424 shares of the company’s common stock. The CEO, Tyler Page, expressed excitement about the acquisition, stating that Black Pearl, the new site, is expected to become the largest of their sites, with plans to start deploying mining rigs in a little over a year.
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Cipher Mining Announces November 2023 Operational Update

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Cipher Mining Inc. (NASDAQ:CIFR) released its unaudited production and operations update for November 2023. In November, the company mined 433 BTC, with a month-end operating hash rate of 7.2 EH/s. The Odessa facility achieved an all-time high site hash rate of 6.24 EH/s, and the company ended the month with approximately 558 BTC.
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Cipher Mining Provides Third Quarter 2023 Business Update

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Cipher Mining Inc. (NASDAQ: CIFR) achieved a record self-mining hash rate capacity of up to 7.2 Exahash per Second (EH/s) and signed an agreement to acquire a new Texas-based, ERCOT-approved site with interconnection up to 300 MW, expected to come online in 2025. The company also purchased ~1.2 EH/s of the latest generation S21 Bitmain Rigs, bringing total hash rate in operation and under contract to ~8.4 EH/s. GAAP diluted net loss of $0.07 per share and non-GAAP diluted net income of $0.02 per share were reported for the third quarter 2023.
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Cipher Mining Announces October 2023 Operational Update

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Cipher Mining Inc. released its unaudited production and operations update for October 2023. Key highlights include 428 BTC mined, 116 BTC equivalent power sales, 466 BTC sold, and 70,000 deployed mining rigs. The month ended with an operating hash rate of 7.2 EH/s.
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Cipher Mining Announces Date of Third Quarter 2023 Business Update Conference Call

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Cipher Mining Inc. to release Q3 2023 financial results and provide business update
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Cipher Mining Announces September 2023 Operational Update

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Cipher Mining Inc. releases unaudited production and operations update for September 2023.
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Cipher Mining Announces August 2023 Operational Update

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Cipher Mining Inc. releases unaudited production and operations update for August 2023.
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FAQ

What is the current stock price of Cipher Mining (CIFR)?

The current stock price of Cipher Mining (CIFR) is $5.32 as of November 5, 2024.

What is the market cap of Cipher Mining (CIFR)?

The market cap of Cipher Mining (CIFR) is approximately 1.9B.

What does Cipher Mining Inc. do?

Cipher Mining Inc. develops and operates Bitcoin mining data centers, aiming to strengthen the Bitcoin network's infrastructure.

What are Cipher Mining's recent achievements?

Cipher reported record net income in Q1 2024, expanded its mining fleet, and continued developing its Bear, Chief, and Black Pearl sites.

What are Cipher Mining's expansion plans?

Cipher plans to complete the Bear and Chief site expansions by Q2 2024 and the Black Pearl data center by 2025, aiming to enhance its mining capacity.

What is Cipher Mining's current Bitcoin inventory?

As of the latest update, Cipher Mining holds approximately 2,033 BTC in its inventory.

Who are Cipher Mining's strategic partners?

Cipher Mining has strategic partnerships with Bitmain and Canaan, securing advanced mining equipment to enhance its operations.

What is Cipher Mining's expected hash rate by the end of 2024?

Cipher Mining aims to achieve a self-mining hash rate of 13.5 EH/s with an efficiency of 18.6 J/TH by the end of 2024.

What are Cipher Mining's financial highlights for Q1 2024?

Cipher reported record net income on both a GAAP and Non-GAAP basis in Q1 2024, continuing to invest heavily in its expansion projects.

How is Cipher Mining preparing for the Bitcoin halving?

Cipher Mining is expanding its infrastructure and upgrading its mining equipment to remain a low-cost producer and capitalize on post-halving opportunities.

What are Cipher Mining's goals for 2025?

By 2025, Cipher aims to achieve a fleet efficiency of 15 J/TH and expand its self-mining hash rate to 35 EH/s with continued infrastructure development.

How can I learn more about Cipher Mining?

Visit Cipher Mining's official website at https://www.ciphermining.com/ for more information on their operations and latest news.

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Cipher Mining Inc.

Nasdaq:CIFR

CIFR Rankings

#2006 Ranked by Market Cap
N/A Ranked by Dividends

CIFR Stock Data

1.89B
347.81M
32.92%
29.17%
6.95%
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