Cipher Mining Announces December 2024 Operational Update

Core Insights - Cipher Mining Inc. reported its unaudited production and operations update for December 2024, highlighting significant metrics in bitcoin mining and operational efficiency [1][2]. Production Metrics - The company mined approximately 234 BTC in December 2024 and sold around 271 BTC, ending the month with a total of approximately 1,344 BTC held [2][5]. - The total number of deployed mining rigs reached 75,000, contributing to a month-end operating hashrate of 13.5 EH/s and a fleet efficiency of 18.9 J/TH [2][3]. Operational Developments - Cipher completed the upgrade of its mining fleet at Odessa, enhancing its self-mining hashrate to approximately 13.5 EH/s [3]. - The company made substantial progress on the development of the new Black Pearl data center, indicating ongoing expansion efforts in its infrastructure [3][9]. Power Management - Cipher utilized advanced data center operations technologies to maintain power supply during periods of curtailment by its power provider, managing to continue hashing for about 80 hours despite the provider using 20% of its annual curtailment hours in December [4]. Financial Overview - The estimated power sales for December were equivalent to 2 BTC, based on the month-end bitcoin price of $93,349, and included approximately 345 BTC pledged as collateral [2][11].