Cipher Mining Enhances Bitcoin ASIC Fleet With 7.1 EH/s Bitmain Deal

On Monday, Cipher Mining revealed its acquisition of seven.1 exahash per second (EH/s) in new mining gear from Bitmain. The firm invested in Bitmain’s T21 collection miners, totaling a purchase order value of $99.5 million.

Cipher Mining’s Strategic $99.5 Million Investment in Next-Gen Bitmain Miners

In current months, following the introduction of a number of superior bitcoin mining models, mining operations have been actively buying state-of-the-art mining rigs. On Dec. 18, the bitcoin mining firm Cipher Mining (Nasdaq: CIFR) introduced its buy of seven.1 EH/s in next-generation mining equipment from Bitmain.

Cipher Mining spent $14 per terahash, amounting to a complete funding of $99.5 million within the newest {hardware}. The Bitmain Antminer T21, an air-cooled gadget, provides 190 terahash per second (TH/s) and boasts an effectivity of 19 joules per terahash (J/T). Cipher Mining intends to make the most of these new rigs to reinforce its self-mining hashrate, with the supply of the 7.1 EH/s gear slated for the primary half of 2025.

“We are very excited to continue our track record of investing opportunistically during lulls in the bitcoin mining cycle,” Tyler Page, the CEO of Cipher stated in an announcement on Monday. “By acquiring 7.1 EH/s of Bitmain’s T21 mining rigs, we can build out the first 135 MW at our newly acquired Black Pearl site. We also have an option to acquire up to an additional 8.7 EH/s of T21s in 2024.”

The Bitmain T21 collection has been a preferred bitcoin mining rig mannequin, as evidenced by vital orders from Iris Energy and DMG. Iris Energy made two substantial purchases just lately: 7,000 T21s on the finish of November and a further 8,380 T21s two weeks later. Similarly, DMG acquired 4,550 T21 Antminers from Bitmain this month, totaling $12.1 million. In addition to Bitmain, it’s foremost competitor, Microbt, has been securing orders for its next-generation Whatsminer models.

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