Cipher Mining Inc. - CIFR STOCK NEWS

Cipher Mining Inc. (NASDAQ: CIFR) announced key leadership promotions to enhance its bitcoin mining and business operations. Patrick Kelly and Will Iwaschuk have been appointed Co-Presidents, while Olivia Stennett has been promoted to Chief Administrative Officer. With decades of finance and fintech experience, Kelly and Iwaschuk aim to drive growth and explore adjacent opportunities. Stennett will lead corporate administrative functions as Cipher expands. CEO Tyler Page emphasized the team's competitive advantage, highlighting the executives' contributions in transitioning Cipher into a leading entity in the bitcoin mining sector.

Cipher Mining Inc. (NASDAQ: CIFR) has reported its financial results for Q4 and the full year ending December 31, 2022. The company operates four bitcoin mining data centers, achieving an all-time high hash rate capacity of approximately 5.2 EH/s. Cipher's GAAP diluted net loss was $0.16 per share, with a non-GAAP net loss of $0.26. They began revenue generation in Q4 2022 with the Odessa data center. Production increased significantly, with a 52% rise in bitcoin mined in January compared to December. The company aims to deploy up to 5.7 EH/s by the end of Q1 2023, focusing on organic growth opportunities.

Cipher Mining (NASDAQ:CIFR) reported an operational update for February 2023, highlighting the production of 398 Bitcoin and achieving a new all-time high hash rate of 5.2 EH/s. The company energized 7,710 new miners, resulting in a 19% increase in hash rate compared to January. Cipher sold 357 Bitcoin during the month, ending with a balance of 465 Bitcoin. The Odessa facility contributed significantly, allowing Cipher to fund capital expenditures and operational costs without reliance on equity dilution or debt. This success underscores Cipher's position as a low-cost producer in the competitive bitcoin mining landscape.

Cipher Mining Inc. (NASDAQ: CIFR) has announced it will provide a business update and release its fourth quarter and full year 2022 financial results on March 14, 2023. The company will host a conference call at 8:00 a.m. Eastern Time on the same day. Investors can access the live webcast from Cipher's investor relations website. Cipher aims to enhance the Bitcoin network's infrastructure through its dedication to expanding its bitcoin mining data centers in the U.S., striving to become a market leader in this sector.

Cipher Mining (NASDAQ:CIFR), a leading bitcoin mining data center operator, reported substantial growth in January 2023, producing 343 BTC, up 52% from the previous month. The company achieved a record hash rate capacity of 4.3 EH/s, including 41,000 deployed mining rigs. Cipher sold 314 BTC during the month, maintaining a balance of 424 BTC by month-end. The operational expansion, particularly at the Odessa facility, enabled a 51% increase in daily mining capacity. Cipher aims to reach 6 EH/s of self-mining capacity in Q1 2023, continuing its trajectory of growth.

Cipher Mining Inc. (NASDAQ:CIFR) reported significant operational achievements for December 2022, producing 225 BTC, a 137% increase from the previous month. The company reached an all-time high hash rate of 2.8 EH/s, with expectations to expand to 6 EH/s in early 2023. Cipher's deployed fleet increased to 28,000 miners, and they hold 394 BTC at the end of the month. A total of 39 BTC were sold during December as part of treasury management.

Cipher Mining Inc. (NASDAQ: CIFR) is set to participate in the 25th Annual Needham Growth Conference on January 12, 2022, at 4:30 PM ET. The event will be available through a live webcast, and interested parties can find presentation materials and replays on Cipher's investor relations page. Cipher is a U.S.-based technology company focused on Bitcoin mining and aims to enhance Bitcoin network infrastructure. For further details, investors can contact Cipher's investor relations team.

Cipher Mining Inc. (NASDAQ: CIFR) has acquired 7,200 new Bitcoin mining rigs, increasing its total self-mining fleet to approximately 59,000 rigs. This acquisition is aimed at ramping up the hash rate to around 6 EH/s, with about 3 EH/s expected to be operational by year-end 2022. The purchase, made with minimal cash outlay, reflects Cipher's strategy to lead in the Bitcoin mining market. The company has also deployed 165 MW of capacity and plans to expand to 267 MW in early 2023.

Cipher Mining (Nasdaq: CIFR) has officially launched bitcoin mining operations at its Odessa data center in Texas, achieving this milestone just 10 months after breaking ground. The company's four data centers are projected to reach a combined capacity of 267 MW by early 2023, with an expected output of approximately 7 EH/s. Cipher benefits from a long-term power contract at Odessa, valued at approximately $78.9 million, offering flexibility to either mine bitcoin or resell power, helping to alleviate impacts from declining bitcoin prices.