Cipher Mining buys 16,700 new miners ahead of Bitcoin halving

Bitcoin mining firm Cipher Mining has purchased 16,700 new miners to deliver in the second quarter, with hopes to be “one of the industry winners” of the Bitcoin halving event — expected in April.

Cipher expects to have the latest generation Avalon A1466 miners installed at its Bear and Chief Mountain facilities in Texas in the second quarter as well, bringing the firm’s total self-mining capacity to 8.4 exahashes per second (EH/s), the firm stated on Jan. 3.

Terms of the purchase were reached between Bitcoin mining firm Canaan — the firm selling the Avalon A1466 miners — and joint venture firm Bear LLC and Chief Mountain LLC. Cipher holds a 49% interest in the joint venture.

Cipher and its joint venture partner plan to install half of these miners at the Bear facility and the other half at the Chief facility, representing an expansion of 30 megawatts — 1.25 EH/s — at each mining center.

#news #btc #mining

Jan-4-2024 09:47:36 AM