Cipher Mining Inc.

Cipher Mining Inc.

Cipher Mining Produces 343 Bitcoin and Achieves New All-Time Excessive Hash Fee Capability of 4.3 EH/s in January 2023

Odessa Knowledge Middle

Area B & C

Space B & C

NEW YORK, Feb. 01, 2023 (GLOBE NEWSWIRE) — Cipher Mining (NASDAQ:CIFR) (“Cipher” or the “Company”), a number one developer and operator of bitcoin mining information facilities, immediately introduced its unaudited manufacturing and operations replace for January 2023.

Key Highlights

Key Metrics

January 2023*

BTC Mined


BTC Offered


BTC Held


Deployed Mining Rigs


Month Finish Working Hash Fee (EH/s)


*Approximate values

Administration Commentary

Through the month of January, Cipher continued to increase operations at Odessa, fund our capital expenditures out of operations and construct our bitcoin stock. Cipher began the month with the potential to mine as much as ~9.3 bitcoin in a day and completed with the potential to mine ~14.0 bitcoin1 – a ~51% improve in a single month.

“Our experienced deployment and operations teams worked tirelessly to continue our rapid hash rate build throughout January,” mentioned Tyler Web page, CEO of Cipher. “We now have over 3.3 EH/s of self-mining operations at our Odessa facility and approximately 4.3 EH/s of self-mining operations across our sites. Cipher remains on track to build out ~6 EH/s of self-mining capacity in the first quarter of 2023.”

Odessa Data Center Area B & C

Odessa Knowledge Middle Space B & C

Odessa Knowledge Middle Space B & C

Bitcoin Manufacturing and Operations Updates for January 2023

Through the month of January, Cipher energized 13,300 new Bitmain and MicroBT miners, representing a rise in hash charge of ~1.4 EH/s and a ~48% improve relative to the earlier month. With the rise in hash charge, Cipher produced ~343 BTC in January, representing a ~52% improve in manufacturing relative to the earlier month. As a part of its common treasury administration course of, Cipher offered ~314 BTC in January, ending the month with a stability of ~424 BTC.

About Cipher

Cipher is an rising expertise firm targeted on the event and operation of bitcoin mining information facilities in america. Cipher is devoted to increasing and strengthening the Bitcoin community’s essential infrastructure. Along with its diversely gifted workforce and strategic partnerships, Cipher goals to be a market chief in bitcoin mining development and innovation. To study extra about Cipher, please go to

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Ahead Wanting Statements

This press launch accommodates sure forward-looking statements throughout the which means of the federal securities legal guidelines of america. The Firm intends such forward-looking statements to be lined by the protected harbor provisions for forward-looking statements contained within the Non-public Securities Litigation Reform Act of 1995 and contains this assertion for functions of complying with these protected harbor provisions. Any statements made on this press launch that aren’t statements of historic truth, together with statements about our beliefs and expectations relating to our efficiency, technique, enlargement plans, future operations, future working outcomes, projected prices, prospects, plans, and targets of our administration, are forward-looking statements and ought to be evaluated as such. Ahead-looking statements embrace info regarding potential or assumed future outcomes of operations, together with descriptions of our marketing strategy and techniques. These forward-looking statements typically are recognized by the phrases “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “forecast,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and related expressions (together with the unfavourable variations of such phrases or expressions).

These forward-looking statements are based mostly upon estimates and assumptions that, whereas thought of cheap by Cipher and our administration, are inherently unsure. Such forward-looking statements are topic to dangers, uncertainties, and different components that might trigger precise outcomes to vary materially from these expressed or implied by such ahead trying statements. New dangers and uncertainties could emerge every now and then, and it isn’t potential to foretell all dangers and uncertainties. Many components may trigger precise future occasions to vary materially from the forward-looking statements on this press launch, together with however not restricted to: volatility within the value of Cipher’s securities on account of quite a lot of components, together with modifications within the aggressive and controlled trade during which Cipher operates, variations in efficiency throughout rivals, modifications in legal guidelines and rules affecting Cipher’s enterprise, and the power to implement enterprise plans, forecasts, and different expectations and to establish and notice extra alternatives. The foregoing record of things is just not exhaustive. It’s best to rigorously think about the foregoing components and the opposite dangers and uncertainties described within the “Risk Factors” part of our Annual Report on Kind 10-Okay filed with the Securities and Alternate Fee (“SEC”) on March 4, 2022, the “Risk Factors” sections of our Quarterly Report on Kind 10-Q filed with the SEC on Could 10, 2022 and on November 14, 2022, and in Cipher’s subsequent filings with the SEC. These filings establish and tackle different essential dangers and uncertainties that might trigger precise occasions and outcomes to vary materially from these contained within the forward-looking statements. Ahead-looking statements communicate solely as of the date they’re made. Readers are cautioned to not put undue reliance on forward-looking statements, and Cipher assumes no obligation and, besides as required by legislation, doesn’t intend to replace or revise these forward-looking statements, whether or not on account of new info, future occasions, or in any other case.

Investor Contact:
Josh Kane
Head of Investor Relations at Cipher Mining

Media Contact:
Ryan Dicovitsky / Kendal Until
Dukas Linden Public Relations

1 Assumes community hash charge of 274 EH/s and 900 bitcoins mined per day

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