Cipher

Avalon

Bitcoin

<a href="https://ultramining.com/news/en/cipher-mining-thrives-eyes-increased-market-share/" rel="noopener noreferrer nofollow">Cipher</a> Mining, a prominent Bitcoin mining firm, has strategically purchased 16,700 new <a href="https://ultramining.com/news/en/stronghold-invests-3m-in-bitcoin-mining-expansion/" rel="noopener noreferrer nofollow">Avalon</a> A1466 miners from <a href="https://ultramining.com/news/en/canaan-s-revenue-drops-by-72/" rel="noopener noreferrer nofollow">Canaan</a>, aiming to enhance its operations in anticipation of the upcoming Bitcoin <a href="https://ultramining.com/news/en/heat-waves-and-halving-bitcoin-miners-cash-in-amid-rising-prices/" rel="noopener noreferrer nofollow">halving</a> event, according to <a href="https://cointelegraph.com/news/cipher-mining-buys-16700-new-crypto-miners-ahead-bitcoin-halving?ref=onepagecrypto.com" rel="noopener noreferrer nofollow">Cointelegraph</a>.&nbsp;
The new miners will be installed at Cipher's Bear and Chief Mountain facilities in <a href="https://ultramining.com/news/en/texas-residents-challenge-bitcoin-mining-industrys-impact-on-power-grid-and-communities/" rel="noopener noreferrer nofollow">Texas</a> during the second quarter, significantly expanding the firm's <a href="https://ultramining.com/news/en/riot-battles-texas-heat-to-produce-410-btc-and-stabilize-energy-grid/" rel="noopener noreferrer nofollow">self-mining</a> capacity to 8.4 exahashes per second (EH/s).&nbsp;
Tyler Page, CEO of Cipher Mining, emphasized that this acquisition is timed to coincide with the halving event. Cipher's decision to make this significant investment underscores its commitment to maintaining a competitive edge in the rapidly evolving Bitcoin mining sector.
In 2023, Cipher's operational achievements included mining 465 BTC in December, a 7.4% increase from November, and holding 796 BTC on its balance sheet, valued at $34 million. The company's proactive approach and robust financial performance have positively impacted its market presence, with its share price (CIFR) witnessing a substantial increase of 638% from $0.56 to $4.13 in 2023.

Cipher Mining Boosts Capacity Ahead of Bitcoin Halving with 16,700 New Miners

Ultramining_Eng

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