Cipher Mining acquires additional new mining rigs for Odessa data center

Cipher Mining announced it has acquired additional new mining rigs to be installed at its recently opened Odessa data center, which will bring the company’s aggregate self-mining hashrate to approximately 6 EH/s, with approximately 3 EH/s of self-mining expected to be operating by 2022 year-end. Cipher recently purchased 7,200 new rigs, bringing its total self-mining fleet to roughly 59,000 rigs, with no further payments remaining. The company was able to purchase these new rigs with minimal cash outlay and continues to demonstrate its market leadership in managing the cyclicality of prices in the bitcoin mining marketplace. Over the past twelve months, Cipher has deployed 165MW of capacity and expects to ramp up to 267MW in early 2023. The company expects to achieve 6 EH/s of self-mining across the portfolio in early 2023.