Cipher Mining (CIFR) has begun bitcoin
manufacturing at its 300-megawatt (MW) Black Pearl facility in Texas, the corporate introduced on Monday. The launch marks a key milestone for the agency, which now operates 5 energetic bitcoin mining information facilities.
Section I of the positioning, at present operating at 150 MW, has reached an preliminary hashrate of two.5 exahashes per second (EH/s). That quantity is anticipated to rise to 9.6 EH/s by the tip of the third quarter, as new mining rigs arrive and substitute older models. As soon as totally operational, Cipher’s whole fleet will push towards a self-mining capability of 23.1 EH/s.
The corporate delivered the positioning in 16 months and credit its operational self-discipline for sustaining low manufacturing prices amid business volatility.
“We’re proud to be mining bitcoin ahead of schedule,” CEO Tyler Web page mentioned in a press release.
Cipher’s broader infrastructure technique features a 2.6 gigawatt (GW) pipeline that will serve each high-performance computing (HPC) shoppers and bitcoin mining.
As competitors tightens in post-halving markets, scaling cheaply and rapidly has change into crucial for public miners like Cipher making an attempt to retain their edge.
CIFR declined 6.9% on Monday throughout common buying and selling. Shares are larger by 1.9% after hours.
