The Nasdaq-traded mining company Cipher Mining unveiled plans to expand its Bear LLC and Chief Mountain LLC projects, revealing the acquisition of 2.5 exahash per second (EH/s) of Canaan-crafted application-specific integrated circuit (ASIC) bitcoin mining machines. The enterprise will procure 16,700 advanced Avalon A1466 miners, anticipated for delivery by Q2 2024.
Cipher Mining Sets Eyes on Upcoming Halving With Major Equipment Expansion
Cipher Mining (Nasdaq: CIFR) disclosed an additional acquisition of bitcoin miners, following its mid-December 2023 procurement of 7.1 exahash per second (EH/s) in next-generation mining equipment from Bitmain. The most recent acquisition from Canaan aims to enhance two collaborative ventures, Bear and Chief Mountain, in which Cipher holds a 49% stake.
Post delivery and setup in Q2 2024, each facility will experience a growth of 30 megawatts (MW) and attain 1.25 EH/s of SHA256 hashrate. Cipher revealed on Wednesday that its total self-mining capacity
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