Summary:
Cipher Mining, a publicly listed Bitcoin mining company, has announced a major acquisition of cryptocurrency mining hardware. The company will purchase 37,396 Antminer T21 miners from Bitmain, with the new equipment projected to achieve 7.1 EH/s of self-mining capability by mid-2025. This acquisition will allow Cipher to set up its first 135 MW at its Black Pearl site and potentially purchase an additional 45,706 miners next year. With this deal, Cipher can secure mining equipment at a favorable price of $14 per TH. The company has been actively expanding its mining operations and recently acquired 11,000 Canaan A1346 machines.
Introduction:
Cipher Mining, a publicly listed Bitcoin mining company, has made a significant move to expand its mining capabilities. The company has announced the acquisition of 37,396 Antminer T21 miners from Bitmain, a leading Chinese crypto mining giant. With this purchase, Cipher aims to increase its self-mining capacity to 7.1 EH/s by mid-2025. The acquisition will also enable Cipher to set up its first 135 MW of mining capacity at its Black Pearl site.
Main Points:
– Cipher Mining, a publicly listed Bitcoin mining company, has acquired 37,396 Antminer T21 miners from Bitmain.
– The new mining equipment is projected to achieve 7.1 EH/s of self-mining capability by mid-2025.
– Cipher plans to use the acquired miners to set up its first 135 MW of mining capacity at its Black Pearl site.
– The company has the option to purchase an additional 45,706 miners, further increasing its mining capacity.
– Cipher is able to secure the mining equipment at a favorable price of $14 per TH.
– The company has been actively expanding its mining operations, having recently acquired 11,000 Canaan A1346 machines.
Conclusion:
Cipher Mining’s acquisition of a large number of Antminer T21 miners from Bitmain will significantly enhance its Bitcoin mining capabilities. The new mining equipment is expected to achieve a self-mining capacity of 7.1 EH/s by mid-2025. This acquisition allows Cipher to set up its first 135 MW of mining capacity at its Black Pearl site and potentially purchase more miners in the future. With a favorable price of $14 per TH, Cipher is well-positioned to benefit from the anticipated surge in Bitcoin prices. The company has been actively expanding its mining operations, and this acquisition is another step towards its goal of becoming a major player in the cryptocurrency mining industry.