Odessa
Odessa
It produces 225 bitcoins and achieves a new high hash rate capacity of 2.8 EH/s in December 2022.
New York, January 10, 2023 (GLOBE NEWSWIRE) Cipher Mining Inc. (NASDAQ: CIFR ) (“Cypher” or the “Company”), a leading developer and operator of Bitcoin mining data centers, today announced unverified production and operational updates for December 2022.
Key points
|
Key Metrics |
December 2022* |
|
BTC Mined |
225 |
|
BTC Sold |
39 |
|
BTC held |
394 |
|
Deployed Fleet |
28,000 |
|
End of Month Transaction Hash Rate (EH/s) |
2.8 |
*Approximate values
Management commentary
In December, in addition to operating the first three data centers, Cipher continued to build at maximum speed in Odessa. Cipher started the month with the potential to mine ~3.6 bitcoins per day on Odessa and ended with the potential to mine ~6.6 bitcoins per day on the site.1 – an increase of ~ 84% in one month.
“This rapid progress demonstrates the expertise of our amazing deployment and operations teams,” said Tyler Page, CEO of Cipher. “As always at Cipher, we have been relentlessly focused on cost discipline and announced the purchase of 7,200 new rigs in one month at very attractive prices, bringing our total fleet purchased for self-production to over 59,000 rigs. Turning the calendar to 2023, we continue to focus on completing Odessa as soon as possible. With an additional ~31,000 fully paid rigs in the field or in transit to Odessa, we expect to expand our own production capacity to ~6 EH/s in the first quarter of the year.”
Bitcoin production and transactions updates for December 2022
During the month of December, Cipher powered 8,326 new Bitmain and MicroBT miners, representing a ~0.8 EH/s hash rate increase and a ~40% increase over the previous month. With an increase in hash rate, Cipher produced ~225 BTC in December, representing a 137% increase in production over the previous month. As part of its regular treasury management process, Cipher sold ~39 BTC in December and ended the year with a balance of ~394 BTC.
About the password
Cipher is a growing technology company focused on the development and operation of bitcoin mining data centers in the United States. Cipher is dedicated to expanding and strengthening the critical infrastructure of the Bitcoin network. With its diverse talented team and strategic partnerships, Cipher aims to be a market leader in bitcoin mining development and innovation. Visit to learn more about Cipher https://www.ciphermining.com/.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of US federal securities laws. 1995 and includes this statement in order to comply with these safe harbor provisions. Any statements made in this press release or during the business update conference call, including our performance, strategy, expansion plans, future operations, future results of operations, projected costs, prospects, plans and objectives of our management, are forward-looking statements and should be considered as such. Forward-looking statements include information about possible or probable future results of operations, including descriptions of our business plan and strategies. These forward-looking statements are generally defined by the words “believe”, “project”, “anticipate”, “anticipate”, “estimate”, “intend”, “strategy”, “future”, “forecast”, “opportunity”. . ” “plan”, “may”, “should”, “will”, “will”, “will”, “continue”, “will likely result” and similar expressions (including negative versions of such words or expressions) ).
These forward-looking statements are based on estimates and assumptions that are inherently uncertain, even if they are believed to be reasonable by Cipher and its management. 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 arise 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 various factors, including competitive and regulated industry changes. Cipher’s operations, changes in performance among competitors, changes in laws and regulations affecting Cipher’s business, business plans, forecasts and other expectations, and the ability to identify and pursue additional opportunities. The above list of factors is not exhaustive. You should carefully consider the above factors and 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 4, 2022. Risk Factors” sections of our Quarterly Report on Form 10-Q filed with the SEC on May 10, 2022 and August 9, 2022, and in Cipher’s subsequent filings with the SEC, including its Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission. and the Securities and Exchange Commission (“SEC”) on November 14, 2022. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to place undue reliance on forward-looking statements and Cipher undertakes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements as a result of new information, future events. , or else.
Contacts:
Investor Relations:
Josh Kane
Head of Investor Relations at Cipher Mining
josh.kane@ciphermining.com
Media Contact:
Ryan Dikovitsky / Kendall Till
Dukas Linden Public Relations
CipherMining@DLPR.com
1 The network assumes a hash rate of 250 EH/s and 900 bitcoins mined per day
Photos accompanying this announcement are available at:
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