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Cryptocurrencies: 28005
Markets: 116055
Market Cap: $3,052,473,135,211     
24h Vol: $86,926,750,486
Seeking Alpha 2023-01-10 21:50:59

Cipher Mining bitcoin output more than doubles sequentially on record hash rate

Cipher Mining bitcoin output more than doubles sequentially on record hash rate
Cipher Mining ( NASDAQ: CIFR ) said Tuesday it produced ~225 bitcoin , more than double sequentially, and achieved record high hash rate capacity of 2.8 EH/s in December. The company energized 8.3K new Bitmain and MicroBT miners, representing an increase in hash rate of ~0.8 EH/s and a ~40% increase relative to November. Cipher ( CIFR ) sold ~39 bitcoin in December as part of its regular treasury management, ending 2022 with a balance of ~394 BTC. "With an additional ~31K fully-paid-for rigs on site or in transit to Odessa (data center), we anticipate expanding self-mining capacity to ~6 EH/s in Q1," said CEO Tyler Page. SA Quant is of the view that Cipher ( CIFR ) is at high risk of performing badly .
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