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Cryptocurrencies: 26585
Markets: 104250
Market Cap: $3,363,512,843,742     
24h Vol: $68,523,822,230
Seeking Alpha 2022-12-20 21:29:19

Cipher buys new bitcoin mining rigs for Odessa data center

Cipher buys new bitcoin mining rigs for Odessa data center
Cipher Mining ( NASDAQ: CIFR ) said Tuesday it acquired additional new mining rigs to be installed at its Odessa data center, which will bring its total self-mining hashrate to ~6 EH/s. Of this, ~3 EH/s of self-mining is expected to be operating by 2022-end and the rest by early 2023. The bitcoin miner recently bought 7.2K new rigs at attractive prices, bringing its total self-mining fleet to ~59K rigs, with no further payments remaining. Cipher ( CIFR ) deployed 165 MW of capacity over the last 12 months and expects to ramp up to 267 MW early next year. "We are making rapid progress towards our goal of completing the ramp up of the Odessa data center in early 2023," said Cipher ( CIFR ) CEO Tyler Page. Last month, the miner started bitcoin production operations at its Odessa data center in Texas .
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