Cipher Mining Announces June 2024 Operational Update
02 Julio 2024 - 3:05PM
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).
These forward-looking
statements are based upon estimates and assumptions that, while
considered reasonable by Cipher and our management, are inherently
uncertain. 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 emerge
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 a variety of factors, including changes
in the competitive and regulated industry in which Cipher operates,
variations in performance across competitors, changes in laws and
regulations affecting Cipher’s business, and the ability to
implement business plans, forecasts, and other expectations and to
identify and realize additional opportunities. The foregoing list
of factors is not exhaustive. You should carefully consider the
foregoing factors and the 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
5, 2024, and in Cipher’s subsequent filings with the SEC. These
filings identify and address other important risks and
uncertainties that could cause actual events and results to differ
materially from those contained in the forward-looking statements.
Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking
statements, and Cipher assumes no obligation and, except as
required by law, does not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise.
Contacts:
Investor
Contact:Josh KaneHead of Investor Relations at Cipher
Miningjosh.kane@ciphermining.com
Media
Contact:Ryan Dicovitsky / Kendal TillDukas Linden Public
RelationsCipherMining@DLPR.com
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)
Photos accompanying this announcement are available
athttps://www.globenewswire.com/NewsRoom/AttachmentNg/a04833bd-4115-4a25-a89a-1f95bb6ce472https://www.globenewswire.com/NewsRoom/AttachmentNg/3b496f42-e0cf-44fa-98f2-5208f2a4137c
Cipher Mining (NASDAQ:CIFR)
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