Cipher Mining Inc. (NASDAQ:CIFR) (“Cipher” or the “Company”) today released its unaudited production and operations update for December 2023.
Key Highlights
| Key Metrics | December 2023* |
| BTC Mined | 465 |
| Power Sales Equivalent BTC1 | 16 |
| BTC Sold | 228 |
| BTC Held | 796 |
| Deployed Mining Rigs | 70,000 |
| Month End Operating Hash Rate (EH/s) | 7.2 |
*Approximate values
Management Commentary for December
“Cipher delivered another month of increased production in December, despite continued growth in network hash rate,” said Tyler Page, CEO of Cipher. “Elevated transaction fees on the Bitcoin network, optimal mining conditions in Texas, and a relentless focus from our operations team produced fantastic results.”
“We also entered into transactions to acquire new cutting-edge mining rigs for our increasingly ambitious growth plans. We finished the year with ample total liquidity of approximately $120 million in bitcoin2 and dollars, with no debt overhang.”
Cipher Mining’s Odessa Facility
Bitcoin Production and Operations Updates for December 2023
Cipher produced ~465 BTC in December, representing a ~7.4% increase in production versus the previous month amidst average monthly network hash rate increasing ~6.3% in December relative to the previous month. As part of its regular treasury management process, Cipher sold ~228 BTC in December, ending the month with a balance of ~796 BTC.
