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....
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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....
Google is all set to acquire a 5.4% stake in Cipher Mining, a Bitcoin mining company, in exchange for guaranteeing part of the payment in the deal between Fluidstack (an AI-focused data center company) and Cipher Mining. Fluidstack and Cipher Mining have entered into a 10-year contract worth $3B, under which Fluidstack will lease Cipher […]
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 […]