Cipher Mining’s Bitcoin Production Update
In its latest operational update, Cipher Mining (NASDAQ: CIFR) has disclosed key figures for May’s bitcoin production. During this month, the company successfully mined around 179 bitcoins. This total includes roughly 4 bitcoins obtained through power sales and approximately 23 bitcoins derived from a joint venture at a data center.
Additionally, Cipher Mining reported selling 64 bitcoins, resulting in an end-of-month holding of 966 bitcoins, with around 334 of those being utilized as collateral.
Operational Capacity and Developments
As of the last day of May, Cipher Mining had installed a total of 75,000 mining machines, achieving a significant operational hash rate of 13.5 EH/s and demonstrating an efficiency of 18.9 J/TH.
The company is also making strides in the development of its Black Pearl data center located in Texas, with the initial phase nearing its completion. In tandem with these advancements, older mining machines that were part of the Odessa upgrade project have been moved and set up, now pending power connections.
To fully utilize the 150 MW power capacity planned for this first phase at Black Pearl, Cipher Mining has ordered additional machines expected to arrive and be operational by early July. Upon full deployment, the company anticipates that its hash rate will rise to an estimated 23.1 EH/s, signaling significant growth in its operational capabilities.
