Business
Cipher Mining Provides First Quarter 2023 Business Update
Four Data Centers Operational and Hashing at All-Time High Hash Rate Capacity of Over 6.0 Exahash per Second (“EH/s”) Purchased 11,000 Canaan A1346 Model
About this update from Cipher Digital Inc.
[{"type":"text","content":"Four Data Centers Operational and Hashing at All-Time High Hash Rate Capacity of Over 6.0 Exahash per Second (“EH/s”) Purchased 11,000 Canaan A1346 Model Mining Rigs Expected to be Delivered and Energized in Q3 Bringing Self-Mining Hash Rate Capacity to 7.2 EH/s GAAP Diluted Net Loss of $0.03 per Share (Non-GAAP Diluted Net Income of $0.03 per Share) NEW YORK, May 09, 2023 (GLOBE NEWSWIRE) -- Cipher Mining Inc. (NASDAQ: CIFR) (\"Cipher\" or the \"Company\"), a leading developer and operator of bitcoin mining data centers, today announced results for its first quarter 2023, with an update on its operations and deployment strategy. \"I am delighted to announce that we have completed the first phase of growth at our Odessa facility and have achieved a self-mining capacity of over 6.0 EH/s across our portfolio,” said Tyler Page, CEO of Cipher. \"We have also purchased an additional 11,000 miners from Canaan, which we expect to be delivered and energized in the third quarter. This will complete the buildout at our Odessa facility and bring our total self-mining capacity to over 7.2 EH/s across our portfolio.\" Finance and Operations Updates Across four initial data centers, Cipher has deployed over 6.0 EH/s to dateThe Company purchased an additional 11,000 mining rigs expected to complete the Odessa data center buildout in Q3, further expanding Cipher’s highly efficient machine fleet to over 70,000 rigs capable of producing 7.2 EH/s of hash rateThe weighted average power price at the Company’s sites currently under contract is approximately 2.7 c/kWh with 96% of the portfolio energized through fixed price powerCipher produced a first quarter 2023 GAAP diluted net loss of $0.03 per share and non-GAAP diluted net income of $0.03 per share Business Update Call and Webcast Cipher will host a conference call and webcast today at 8:00 a.m. Eastern Time to discuss the first quarter results for 2023 and management’s outlook for future financial and operational performance. The live webcast and a webcast replay of the conference call can be accessed from the investor relations page of Cipher's website at https://investors.ciphermining.com. To access this conference call by telephone, dial (800) 715-9871 (toll-free within the U.S.) or +1 (646) 307-1963 (for investors outside of the U.S.) and use the Conference ID 8827688. About Cipher Cipher i...