Cipher

Avalon

<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>-based Cipher Mining has signed a preorder agreement with <a href="https://ultramining.com/news/en/canaan-s-revenue-drops-by-72/" rel="noopener noreferrer nofollow">Canaan</a> for 6,600 <a href="https://ultramining.com/news/en/stronghold-invests-3m-in-bitcoin-mining-expansion/" rel="noopener noreferrer nofollow">Avalon</a> 1566 miners, valued at $16.4 million. Each unit's <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/" rel="noopener noreferrer nofollow">hashrate</a> specification is 185 TH/s, setting the price at $13.12/TH. The hardware is expected in batches between October and November this year. Cipher also has an option to buy more miners by June 30, 2025, at the same price, or 110% if newer models are released, according to <a href="https://theminermag.com/news/2024-06-11/cipher-bitcoin-mining-avalon-antminer-accelerate/" rel="noopener noreferrer nofollow">TheMinerMag</a>.
Additionally, Cipher revised its December preorder with <a href="https://ultramining.com/en/manufacturers/bitmain/" rel="noopener noreferrer nofollow">Bitmain</a>, accelerating the shipment of Antminer units. Originally, Cipher preordered 37,396 <a href="https://ultramining.com/en/hardware/antminer-t21-190-ths/" rel="noopener noreferrer nofollow">Antminer T21</a> units for $99.5 million, with delivery planned for the first half of 2025. Now, Cipher will receive 30,364 <a href="https://ultramining.com/en/hardware/antminer-s21-200-ths/" rel="noopener noreferrer nofollow">Antminer S21</a> Pro units, totaling 6.07 EH/s, for $134 million, translating to $22/TH. Delivery is scheduled for September and October this year.
With these purchases, Cipher anticipates reaching a proprietary hashrate of 13.5 EH/s by year-end, achieving an efficiency of 18.6 J/TH. This strategic acceleration positions Cipher as a significant player in the bitcoin <a href="https://ultramining.com/news/en/texas-residents-challenge-bitcoin-mining-industrys-impact-on-power-grid-and-communities/" rel="noopener noreferrer nofollow">mining industry</a>, leveraging advanced technology to enhance its operational capacity and efficiency.

Cipher Expedites Bitmain Shipment, Projects 13.5 EH/s by Year-End

Ultramining_Eng

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