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Cipher Mining Celebrates Record Bitcoin Production

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Shares of Cipher Mining Inc (CIFR) are revving up today after the Bitcoin miner announced a fat production update for November. The company’s stock is revving up 12.2% to $3.30.

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Cipher Mining reveled it had mined 433 bitcoin last month, with 391 bitcoins already sold and 558 still held. That’s some spirited mining, folks. At the end of the month, Cipher had 70,000 mining rigs at play, with an operating hash rate that’s revved up to a scorching 7.2 EH/s.

Cipher Mining’s CEO Tyler Page waxed lyrical about the company’s performance, β€œCipher’s production really hit its stride in November, when we mined more bitcoin than October despite having a day less on the calendar and average monthly network hash rate rising ~6.5% month-over-month,” said Tyler Page.

β€œWith Odessa fully up and running, we have continued to focus on improving machine repairs and available uptime, allowing us to achieve an all-time high site hash rate of ~6.24 EH/s at Odessa alone.”

Cipher Mining, a tech company that’s all about bitcoin mining data centers, seems to be basking in the glow of a rising Bitcoin price, which was up more than 5% in the last 24 hours at publication time.

Photo: Pete Linforth from Pixabay.

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