BTC miner Cipher invests millions in Antminer

In an effort to boost its Bitcoin mining operations, publicly traded Bitcoin mining company Cipher Mining (CIFR) has announced a significant acquisition of cryptocurrency mining devices. The company will acquire 37,396 units of Antminer T21 miners from Bitmain, one of the largest cryptocurrency mining companies in the industry.

The deal, disclosed Dec. 18, calls for the newly acquired mining equipment to provide Cipher with 7.1 exahash per second (EH/s) of self-mining capacity by the first half of 2025.

As part of the acquisition, Cipher CEO Tyler Page stated the strategic importance of this purchase. He noted that this will allow the company to establish its initial capacity of 135 megawatts (MW) at the recently acquired Black Pearl site. Cipher also recently secured an option to acquire an additional 45,706 miners, which will represent an additional 8.7 EH/s by 2024.

The acquisition also allows Cipher to lock in pricing for mining rigs at the rate of $14 per terahash (TH). Page pointed out that this will become increasingly important as the cryptocurrency market enters a bull run:

We are controlling our largest potential capital expenditure and locking in favorable conditions ahead of what we believe will be a bull market for Bitcoin.”

Cipher is a subsidiary of Bitfury, a major cryptocurrency mining company that has reportedly mined nearly 3% of all Bitcoin ever mined, equivalent to approximately 600,000 BTC, as of March 2021.

In November 2023, the company reportedly entered into a $7 million purchase agreement for a new site in Texas. The agreement was settled in ordinary shares, newly issued at the time.

This site’s planned operational start-up in 2025 is expected to have a potential capacity of up to 300 megawatts. Cipher has been actively expanding its mining infrastructure throughout 2023, with the major acquisition of 11,000 Canaan A1346 mining rigs in May. The company’s increasingly aggressive approach to expansion comes after it went public as a publicly traded entity, a change that followed a $2 billion merger deal with Nasdaq-listed Good Works Acquisition Corp..

This recent mega purchase positions Cipher as a key player in the competitive and rapidly evolving cryptocurrency mining industry.

Leave a Reply

Your email address will not be published. Required fields are marked *

Best Exchanges
Buy, trade, and hold 600+ cryptocurrencies on Binance
Buy, trade, and hold 450+ cryptocurrencies on ByBit
Buy, trade, and hold 150+ cryptocurrencies on Kucoin
Buy, trade, and hold 100+ cryptocurrencies on BitFinex 
Buy, trade, and hold 150+ cryptocurrencies on CoinBase

Guru Investing is an independent source of information about investing , not controlled by any broker. All our reviews and guides are created honestly, according to the best knowledge and judgement of the members of our independent expert team; however, they are intended for informative purposes only and should not be construed as, nor relied upon as, legal advice. You should always make sure that you meet all regulatory requirements before making any financial operations . Copyright ©2024 Email for contact [email protected]
follow telegram
pornhd.com hindisexyporn.com kashmiri girls sex jayasex indaporn.info desi bhabi xxx xlnindia sexo-vids.com 1st time sex video たかはししょうこ動画 javfuck.mobi 真正中出し3本番 彩乃なな sex film sexy film xxxhindividoes.com xnxx indian teens
ano nga ba ang pangarap iwantmoreteleserye.com hello heart episode 3 reshma hot saree images nuporn.mobi xvidies com bihar chudai tubezaur.mobi heroine photo hot dasixx hardcoreporntrends.com ileana d'cruz hot photoshoot www.xxxsexvideo.com xbeegtube.mobi hindi movi
www sxe vidoes erohardcore.info boops sucking dehati fuck kitporn.info chuk chuk rail fuckcomix.com mojoporntube.net gujaratisexvidio probinsyano october 18 2021 full episode freeteleseryetv.net ang probinsyano july 14 2022 قصص سكس كرتون cmsextra.net سكس بنات تخينة