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Cipher To Purchase Mining Rigs From Bitfury

  • Bitcoin mining company Cipher Mining Inc (NASDAQ: CIFRagreed to make monthly purchases from Bitfury Top HoldCo B.V. between June and December 2022.
  • Cipher Mining will purchase 4,000 – 8,000 Bitfury next-generation mining rigs that will each produce 195 TH/s of hashing power and consume 6.3KWh – 6.5KWh of electrical power.
  • The mining rigs will likely produce a hash rate of 5.4 EH/s – 10.9 EH/s. 
  • The agreement provides a maximum purchase price of $6,250 per machine (or $32.05/TH).
  • The agreement brings the aggregate hash rate of mining rigs under contract to ~13.8 EH/s – 19.2 EH/s.
  • Cipher has a right of first refusal to purchase specific equipment from Bitfury under a seven-year Master Supply and Services Agreement between Bitfury and Cipher dated August 26.
  • “With these key purchase agreements in place, we look forward to meeting our goal of expanding and strengthening Bitcoin’s critical network infrastructure,” Cipher CEO Tyler Page said.
  • Price Action: CIFR shares traded lower by 1.22% at $6.06 on the last check Tuesday.

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