Cipher Mining, Inc. CIFR

Cipher Mining, Inc. (NASDAQ: CIFR) is a leading Bitcoin mining company focused on scaling operations with innovative infrastructure and energy management strategies. As of July 2024, Cipher operates with a self-mining hash rate of approximately 8.7 EH/s, with plans to reach 35.0 EH/s by 2025. The company leverages its advanced sites, such as the Odessa and Alborz facilities, to maintain industry-leading efficiency, with an expected fleet efficiency of 15.3 J/TH by 2025. Cipher's growth strategy includes the development of new sites across North America, adding up to 1.7 GW of capacity by 2028. The company's flagship Black Pearl site, expected to energize in 2025, will contribute significantly to this growth, with an estimated 21.5 EH/s of hash rate from its 300 MW facility. With a commitment to low-cost operations, Cipher has optimized its power costs, achieving an average electricity cost of approximately 2.7 cents per kWh across its sites. Cipher is also expanding into the high-performance computing (HPC) market, aiming to become a market-leading infrastructure provider with 100% uptime availability and large-scale power interconnects. Backed by a team with extensive capital-raising experience, Cipher is well-positioned to continue its leadership in the Bitcoin mining industry while exploring new growth opportunities in AI and HPC.

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