1 week ago
Cipher Mining (CIFR) has begun bitcoin BTC accumulation astatine its 300-megawatt (MW) Black Pearl installation successful Texas, the institution announced connected Monday. The motorboat marks a cardinal milestone for the firm, which present operates 5 progressive bitcoin mining information centers.
Phase I of the site, presently moving astatine 150 MW, has reached an archetypal hashrate of 2.5 exahashes per 2nd (EH/s). That fig is expected to emergence to 9.6 EH/s by the extremity of the 3rd quarter, arsenic caller mining rigs get and regenerate older units. Once afloat operational, Cipher's full fleet volition propulsion toward a self-mining capableness of 23.1 EH/s.
The institution delivered the tract successful 16 months and credits its operational subject for maintaining debased accumulation costs amid manufacture volatility.
“We’re arrogant to beryllium mining bitcoin up of schedule,” CEO Tyler Page said successful a statement.
Cipher’s broader infrastructure strategy includes a 2.6 gigawatt (GW) pipeline that whitethorn service some high-performance computing (HPC) clients and bitcoin mining.
As contention tightens successful post-halving markets, scaling cheaply and rapidly has go captious for nationalist miners similar Cipher trying to clasp their edge.
CIFR declined 6.9% connected Monday during regular trading. Shares are higher by 1.9% aft hours.
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