Cipher Mining Inc. Stock Price, News & Analysis

Cipher Mining (NASDAQ:CIFR) has released its December 2024 operational update, highlighting significant achievements in mining operations. The company mined approximately 234 BTC during the month, sold 271 BTC, and maintained a balance of 21,344 BTC. With 75,000 deployed mining rigs, Cipher achieved a month-end operating hashrate of 13.5 EH/s and a fleet efficiency of 18.9 J/TH.

The company successfully completed the upgrade of its mining fleet at Odessa and made substantial progress on the Black Pearl data center development. Despite experiencing ~20% of annual allotted curtailment hours from their power provider in December, Cipher implemented enhanced technology solutions that enabled continued operations during approximately 80 hours of potential curtailment.

Cipher Mining released its November 2024 operational update, reporting production of ~202 BTC and sales of 234 BTC, ending with a balance of ~1,383 BTC. The company maintained 76,000 deployed mining rigs with a hash rate of 12.0 EH/s and fleet efficiency of 20.8 J/TH. The company is upgrading its Odessa facility and developing the Black Pearl data center, expected to be energized by Q2 2025. Cipher also acquired the 100 MW Stingray site, scheduled for 2026 energization, expanding its portfolio to over 2.6 GW of potential power capacity across 11 sites.

Cipher Mining has acquired a new site called Stingray in West Texas for $4.1 million plus a variable fee of $1.5/MWh for the first five years post-energization. The 250-acre site includes approvals and facilities for up to 100 MW of front-of-the-meter capacity, with power consumption expected to begin in the first half of 2026. The acquisition features a completed facility extension agreement with ONCOR and expands Cipher's total portfolio to 2.6 GW across 11 sites.

Cipher Mining (NASDAQ:CIFR) has released its October 2024 operational update. The company mined approximately 168 BTC during the month, including power sales estimates equivalent to 4.5 bitcoin and 30 BTC mined at JV data centers. Cipher sold 248 BTC as part of its treasury management, ending October with a balance of 1,428 BTC. The company maintains 77,000 deployed mining rigs with a month-end operating hash rate of 10.7 EH/s. During October, Cipher began upgrading its mining fleet at Odessa and continued development of the new Black Pearl data center.

Cipher Mining reported significant developments in Q3 2024, including the acquisition of two data center sites: Barber Lake (300 MW capacity) and Reveille (70 MW expandable to 200 MW). The company secured options to purchase three additional Texas sites with 500 MW each. Despite recording a Q3 net loss of $87 million ($0.26 per share) and adjusted loss of $3 million ($0.01 per share), Cipher continues expanding its portfolio. The company is upgrading its Odessa site to reach ~13.5 EH/s hashrate in Q4 2024 and progressing with the 300 MW Black Pearl data center construction, targeting Q2 2025 energization.

Cipher Mining Inc. (NASDAQ: CIFR), a U.S.-based Bitcoin mining company, has announced the date for its Third Quarter 2024 Business Update Conference Call. The company will release its Q3 2024 financial results before U.S. markets open on Thursday, October 31, 2024. Cipher will host a conference call and webcast at 8:00 a.m. Eastern Time on the same day.

Investors and interested parties can access the live webcast and replay of the conference call from the investor relations section of Cipher's website at https://investors.ciphermining.com. To join the call by telephone, participants need to register to receive dial-in numbers and a unique PIN.

Cipher Mining Inc. (NASDAQ: CIFR) has announced the signing of option agreements to acquire three data center sites in West and North Texas from Juvo Energy. These sites, each with a targeted capacity of 500MW, are in the final stages of approval for interconnection. The company has secured options to lease or purchase 580 acres of land across the three locations.

The sites are suitable for both High-Performance Computing (HPC) and bitcoin mining operations. Cipher has a 24-month window to exercise these options, with the final purchase price dependent on the approved interconnection capacity. This strategic move expands Cipher's active portfolio and development pipeline to a total of 2.5 GW across 10 sites.

CEO Tyler Page highlighted the increasing demand from hyperscalers for large, quickly energizable sites. He emphasized that this early involvement in site development allows Cipher to access premium locations at lower costs and improve long-term supply chain and construction planning.

Cipher Mining Inc. (NASDAQ:CIFR) released its unaudited production and operations update for September 2024. Key highlights include:

• 1155 BTC mined
• 923 BTC sold
• 1,512 BTC held
• 78,000 deployed mining rigs
• 9.31 EH/s month-end operating hashrate

The company successfully navigated the final month of 4CP in Texas. Cipher is preparing for an upgrade of the mining fleet at Odessa, expected in the coming weeks. Construction of the new Black Pearl data center continues and is on track for energization by the end of Q2 2025. Cipher also closed the acquisition of the 300 MW Barber Lake site, which is considered ideal for HPC hosting. The purchase was largely funded through the sale of bitcoin from the company's treasury.

Cipher Mining Inc. (NASDAQ: CIFR) has completed the acquisition of the Barber Lake site in West Texas for $67.5 million in cash and a variable fee of $3/MWh for the first five years after site energization. The site includes:

• 250 acres of land
• A newly constructed high-to-mid voltage substation
• Approvals for 300 MW capacity
• Agreements to participate in the ERCOT market

The acquisition was funded through bitcoin inventory sales. CEO Tyler Page emphasized the site's suitability for hosting a large HPC customer or bitcoin mining, noting its rarity and immediate availability. With this acquisition, Cipher's portfolio will expand to over 2.5 GW across 10 sites.