Cipher Mining Inc. (NASDAQ:CIFR) (“Cipher” or the “Company”), a leading developer and operator of bitcoin mining data centers, today released its unaudited production and operations update for April 2023.
Key Highlights
| Key Metrics | April 2023* |
| BTC Mined | 406 |
| BTC Sold | 406 |
| BTC Held | 427 |
| Deployed Mining Rigs | 59,000 |
| Month End Operating Hash Rate (EH/s) | 6.0 |
*Approximate values
Management Commentary
During the month of April, Cipher expanded operations at its Odessa facility while funding both operating expenses and capital expenditures through ongoing operations. Cipher finished April with the potential to mine approximately 16.2 bitcoin1 per day.
“We are delighted to announce we achieved our initial corporate buildout goal of 6 EH/s during the month of April,” said Tyler Page, CEO of Cipher. “We now have over 5 EH/s of self-mining operations at our Odessa facility and approximately 1 EH/s of self-mining operations across our other three sites. In April, we continued to fund our operating expenses as well as our capital expenditures through ongoing operations, without any dilution for shareholders. We now look forward to completing the final phase of Odessa’s buildout this summer and turning our focus to the next stages of growth.”
Bitcoin Production and Operations Updates for April 2023
Cipher energized its remaining new Bitmain and MicroBT miners in April, bringing its total deployed rig count to over 59,000. Cipher produced ~406 BTC in April, representing a ~2% decrease in production relative to the previous month. As part of its regular treasury management process, Cipher sold ~406 BTC in April, ending the month with a balance of ~427 BTC.
