Cipher Mining launches a “green” mining hub for 40 MW
- August 10, 2022
- 0
Cipher Mining has completed the deployment of bitcoin miners in a new 40MW data center in Texas powered by a wind farm. Today we conducted the Q2 2022
Cipher Mining has completed the deployment of bitcoin miners in a new 40MW data center in Texas powered by a wind farm.
Today we conducted the Q2 2022 business update of $CIFR. Highlights: Meeting development milestones for initial data centers; On track to deliver up to 6.9 EH/s by early 2023; maintaining our cost-effective energy pricing advantage; and adding to our best-in-class team https://t.co/rQB75YjowE
— Password Mining (@CipherInc) August 9, 2022
The hash rate of the equipment installed at the Alborz facility is 1.3 EH/s. This will allow the production of up to 5.7 BTC per day, according to the company’s presentation.
Cipher awaits the arrival of bitcoin miners for its three data centers in Texas: Bear and Chief with a combined capacity of 20 MW and a 205 MW facility in Odessa.
The company plans to reach a hash rate of 6.9 EH/s by early 2023, with a fleet of installations with an average throughput of 32.1 J/TH.
Within the scope of the signed contracts, approximately $0.0273 of electricity per kWh is provided to Cipher facilities.
“We have completed the Alborz data center, the mining rigs are on track to implement the first stages in Bear and Chief, and our 205 MW facility in Odessa is scheduled to be commissioned for the remainder of 2022. “Despite challenging cryptocurrency market conditions, our attractive bitcoin mining economy offers us a unique opportunity to move forward successfully,” said Tyler Page, CEO of Cipher.
Our Alborz data center is fully equipped with mining rigs capable of generating ~1.3 EH/s.
Check out this and more on our updated website: https://t.co/JDE9BZ7Iiq.$CIFR @CipherInc pic.twitter.com/7qiYOZPdb5
— Tyler Page (@rftylerpage) August 9, 2022
For the second quarter, the company posted a net loss of $19 million (half year – $27 million). At the same time, Cipher said it has sufficient funds to complete the construction of all four data centers.
According to the press release, the company’s total debt obligations are part of the line of credit for equipment purchases of approximately $11 million for Alborz.
Recall that in July, revenue for bitcoin miners fell 9% to $609.7 million.
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I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
