Cipher Mining Company announced the purchase 11,000 bitcoin miners A1346 from Canaan.
The new hardware is expected to increase processing power from the current 6 EH/s to 7.2 EH/s. Cipher plans to reach 8.2 EH/s by the end of the year.
Delivery of devices is expected in the third quarter of 2023. The facilities will be located in Odessa, Texas.
At the time of writing, Cipher shares are quoted at $2 in premarket trading.
In the first quarter of 2023, the company’s net loss per share more than halved year-over-year from $0.07 to $0.03.
Cipher expects the firm’s average electricity price to be $0.027 per kWh, with 96% of its capacity covered by fixed price agreements.
In the fourth quarter of 2022, Canaan’s revenue was $56.8 million, down 59.9% from the previous reporting period.
Recall that in August 2022, Cipher Mining launched a network of bitcoin miners in a new data center in Texas with a capacity of 40 MW, which is powered by a wind farm.
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Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
Cipher Mining Company announced the purchase 11,000 bitcoin miners A1346 from Canaan.
The new hardware is expected to increase processing power from the current 6 EH/s to 7.2 EH/s. Cipher plans to reach 8.2 EH/s by the end of the year.
Delivery of devices is expected in the third quarter of 2023. The facilities will be located in Odessa, Texas.
At the time of writing, Cipher shares are quoted at $2 in premarket trading.
In the first quarter of 2023, the company’s net loss per share more than halved year-over-year from $0.07 to $0.03.
Cipher expects the firm’s average electricity price to be $0.027 per kWh, with 96% of its capacity covered by fixed price agreements.
In the fourth quarter of 2022, Canaan’s revenue was $56.8 million, down 59.9% from the previous reporting period.
Recall that in August 2022, Cipher Mining launched a network of bitcoin miners in a new data center in Texas with a capacity of 40 MW, which is powered by a wind farm.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
