Cipher Mining (CIFF) started bitcoin
Production in its 300 megawatts Black Pearl installation (MW) in Texas, the company announced on Monday. The launch marks an important step for the company, which now operates five Bitcoin Active extraction centers.
Phase I of the site, in the process of 150 MW, has reached an initial hashrate of 2.5 Exehashes per second (EH / S). This number should reach 9.6 eh / s at the end of the third quarter, while new mining platforms arrive and replace the older units. Once fully operational, Cipher’s total fleet will pay a car capacity of 23.1 eh / s.
The company delivered the site in 16 months and attributes its operational discipline to maintain low production costs in a context of industry volatility.
“We are proud to extract Bitcoin before the scheduled date,” said CEO Tyler Page in a press release.
Cipher’s wider infrastructure strategy includes a 2.6 Gigawatt (GW) pipeline which can serve both high performance computer clients (HPC) and Bitcoin operation.
While competition is tightening in the post-recompress markets, the at low price and quickly became critical for public minors like Cipher trying to keep their advantage.
The CIFR decreased 6.9% on Monday during regular negotiations. Actions are 1.9% higher after hours.
