Cipher Mining Enhances Bitcoin ASIC Fleet With 7.1 EH/s Bitmain Deal

On Monday, Cipher Mining revealed its acquisition of 7.1 exahash per 2nd (EH/s) successful caller mining instrumentality from Bitmain. The institution invested successful Bitmain’s T21 bid miners, totaling a acquisition terms of $99.5 million.

Cipher Mining’s Strategic $99.5 Million Investment successful Next-Gen Bitmain Miners

In caller months, pursuing the introduction of respective precocious bitcoin mining units, mining operations person been actively acquiring state-of-the-art mining rigs. On Dec. 18, the bitcoin mining institution Cipher Mining (Nasdaq: CIFR) announced its acquisition of 7.1 EH/s successful next-generation mining machinery from Bitmain.

Cipher Mining spent $14 per terahash, amounting to a full concern of $99.5 cardinal successful the latest hardware. The Bitmain Antminer T21, an air-cooled device, offers 190 terahash per 2nd (TH/s) and boasts an ratio of 19 joules per terahash (J/T). Cipher Mining intends to utilize these caller rigs to heighten its self-mining hashrate, with the transportation of the 7.1 EH/s instrumentality slated for the archetypal fractional of 2025.

“We are precise excited to proceed our way grounds of investing opportunistically during lulls successful the bitcoin mining cycle,” Tyler Page, the CEO of Cipher said successful a connection connected Monday. “By acquiring 7.1 EH/s of Bitmain’s T21 mining rigs, we tin physique retired the archetypal 135 MW astatine our recently acquired Black Pearl site. We besides person an enactment to get up to an further 8.7 EH/s of T21s successful 2024.”

The Bitmain T21 bid has been a fashionable bitcoin mining rig model, arsenic evidenced by important orders from Iris Energy and DMG. Iris Energy made 2 important purchases recently: 7,000 T21s astatine the extremity of November and an further 8,380 T21s 2 weeks later. Similarly, DMG acquired 4,550 T21 Antminers from Bitmain this month, totaling $12.1 million. In summation to Bitmain, it’s main competitor, Microbt, has been securing orders for its next-generation Whatsminer models.

What bash you deliberation astir Cipher securing 7.1 EH/s of T21 Bitmain miners? Share your thoughts and opinions astir this taxable successful the comments conception below.