Cipher Mining splashes $350M on next-gen Bitcoin mining rigs from Bitfury
The American Bitcoin mining outfit plans to acquire a total of 28,000 to 56,000 next-generation mining rigs. According to a Form 8-K filing with the United States Securities and Exchange Commission (SEC) on Monday, Cipher Mining will purchase 28,000 to 56,000 next-generation Bitcoin mining hardware from Bitfury at a cost of $6,250 per rig.At a maximum cost of $6,250 per machine, Cipher’s Bitcoin mining hardware outlay could go between $175 million and $350 million, depending on whether the company elects to receive all 56,000 rigs as stated in the purchase agreement.The total inventory....
Related News
Bitfury subsidiary Cipher Mining Technologies is merging with Global Acquisition Group and going public on Nasdaq.
Cipher Mining, a bitcoin mining operation of Bitfury, has announced that it is going public via a merger with a special purpose acquisition company (SPAC). The deal values the combined company at $2 billion, with funding from investors such as Morgan Stanley and Fidelity. Cipher Mining Technologies Inc., a newly formed U.S.-based bitcoin mining operation of Bitfury, announced Friday it will go public through a merger with Good Works Acquisition Corp. (Nasdaq: GWAC). The transaction is expected to close in the second quarter. According to Cipher Mining, the deal values the combined....
Bitcoin mining firms, even the newly-established ones, seem to be increasingly pursuing public listings. Cipher Mining Technologies Inc. a subsidiary of blockchain development firm Bitfury has inked a $2 billion merger deal with Nasdaq-listed Good Works Acquisition Corp — a special purpose acquisition company, or SPAC. Both companies have entered into a business combination agreement.According to a press release issued on Friday the merger will see Bitfury’s U.S. Bitcoin (BTC) mining enterprise become a publicly-listed company under the banner Cipher Mining Inc.In addition to the combined....
Data shows the prices of Bitcoin mining rigs have been going down for a while now as profitability for miners has been observing a shrink. Cost Of Bitcoin Mining Rigs Has Been On A Downward Spiral Recently As per the latest weekly report from Arcane Research, BTC mining rigs are now at their lowest cost […]
One of bitcoin's biggest mining infrastructure providers, BitFury, has launched a new hosted mining service for business customers. The company claims the scheme will provide customers with "optimal and reliable" - but low-cost - hash power to maximise the return on their investment. BitFury says its ASICs and specialised mining hardware have established it as the market leader in both constructing and managing computing centres for mining operations. According to the company, approximately 40% of all bitcoins are mined using BitFury-made chips. DigitalBTC and CryptX became the first....