In This Article:
NEW YORK, July 02, 2024 (GLOBE NEWSWIRE) -- Cipher Mining Inc. (NASDAQ:CIFR) (“Cipher” or the “Company”) today released its unaudited production and operations update for June 2024.
Key Highlights
| Key Metrics | June 2024 |
| BTC Mined1 | 176 |
| BTC Sold | 103 |
| BTC Held | 2,209 |
| Deployed Mining Rigs | 75,000 |
| Month End Operating Hash Rate (EH/s) | 8.6 |
1 Includes June power sales estimates (based on current meter data and nodal prices) equivalent to 6 bitcoin (using month-end bitcoin price of $63,370)
Management Commentary for June
In June, Cipher delivered another solid month of production and continued to expand operations, with energization of the 30 MW expansions at each of its Bear and Chief data centers.
“At Bear we have now received and installed all the new mining rigs, and we expect to finish installing the remainder of the new mining rigs at Chief later this month,” said Tyler Page, CEO of Cipher.
Bitcoin Production and Operations Updates for June 2024
Cipher produced ~1761 BTC in June. As part of its regular treasury management process, Cipher sold ~103 BTC in June, ending the month with a balance of ~2,209 BTC.
30 MW expansions at Bear and Chief
About Cipher
Cipher is an emerging technology company focused on the development and operation of bitcoin mining data centers. Cipher is dedicated to expanding and strengthening the Bitcoin network's critical infrastructure. Together with its diversely talented team and strategic partnerships, Cipher aims to be a market leader in bitcoin mining growth and innovation. To learn more about Cipher, please visit https://www.ciphermining.com/
Forward Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws of the United States. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Any statements made in this press release that are not statements of historical fact, including statements about our beliefs and expectations regarding our future results of operations and financial position, business strategy, timing and likelihood of success, potential expansion of or additional bitcoin mining data centers, expectations regarding the operations of mining centers, and management plans and objectives, are forward-looking statements and should be evaluated as such. Forward-looking statements include information concerning possible or assumed future results of operations, including descriptions of our business plan and strategies. These forward-looking statements generally are identified by the words “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “seeks,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “strategy,” “future,” “forecasts,” “opportunity,” “predicts,” “potential,” “would,” “will likely result,” “continue,” and similar expressions (including the negative versions of such words or expressions).