Cipher mining (digifr) has begun Bitcoin
Production on its 300-Megawatt (MW) Black Pearl Facility in Texas, the company announced on Monday. The launch marks an important milestone for the company, which now operates five active Bitcoin mineda centers.
Phase I of the site currently running at 150 MW has reached an initial hash rate of 2.5 exahashes per day. Second (EH/S). This number is expected to rise to 9.6 EH/S by the end of the third quarter as new mining rigs arrive and replace older units. When fully operational, Cipher’s Total Fleet will push against a self -mining capacity of 23.1 EH/s.
The company delivered the site in 16 months and credits its operational discipline to maintain low production costs in the middle of the industry’s volatility.
“We are proud to be mining of Bitcoin ahead of the plan,” CEO Tyler Page said in a statement.
Cipher’s wider infrastructure strategy includes a 2.6 Gigawatt (GW) pipeline that can serve both High-Performance Computing (HPC) clients and Bitcoin mining.
As competition is tightened in the markets after half, scaling has become cheaply and quickly become critical of public miners as digit trying to preserve their edge.
Digifr fell 6.9% Monday under regular trade. Shares are higher by 1.9% after hours.
