Cipher Mining Inc (CIFR)

[chickenvestor]

Cipher Mining Announces September 2023 Operational Update

https://investors.ciphermining.com/news-releases/news-release-details/cipher-mining-announces-september-2023-operational-update


October 2, 2023
NEW YORK, Oct. 02, 2023 (GLOBE NEWSWIRE) -- Cipher Mining Inc. (NASDAQ:CIFR) (“Cipher” or the “Company”) today released its unaudited
production and operations update for September 2023.
Key Highlights
Key Metrics September 2023*
BTC Mined 416
Power Sales Equivalent BTC1 33
BTC Sold 382
BTC Held 553
Deployed Mining Rigs 70,000
Month End Operating Hash Rate (EH/s) 7.2
*Approximate values
Management Commentary for September
In September, Cipher finalized the buildout of the operations at its Odessa facility and finished the month with the potential to mine up to 16.4 bitcoin2
per day.
“We are delighted to announce that we have completed the final phase of the build-out of the Odessa facility and achieved our Q3 goal of 7.2 EH/s of
bitcoin mining capacity across our portfolio,” said Tyler Page, CEO of Cipher. “We are proud to have delivered solid production in a period that was
characterized by record temperatures and demand, as well as significant periods of curtailment from our power provider. Over the course of the
summer, we were able to improve operations as our team collected and analyzed large amounts of data and made additional changes to optimize the
performance of our mining fleet. We are now fully operating at Odessa with the large majority of our curtailment hours behind us. As in previous
months, we have reported additional monthly power sales as a bitcoin equivalent figure in the table above.”
Cipher Mining’s Rigs at the Odessa Data Center
Bitcoin Production and Operations Updates for September 2023
Cipher finalized the Odessa data center, bringing Cipher’s total deployed rig count to approximately 70,000. Cipher produced ~416 BTC in September,
representing a ~16% increase in production relative to the previous month. As part of its regular treasury management process, Cipher sold ~382 BTC
in September, ending the month with a balance of ~553 BTC.

Shortened version of the press release. Click the link to read the entire article.