Cipher Mining (CIFR) Provides December 2023 Operational Update

Cipher Mining Inc. (NASDAQ: CIFR) today released its unaudited production and operations update for December 2023.

Key Highlights

*Approximate values

Management Commentary for December

“Cipher delivered another month of increased production in December, despite continued growth in network hash rate,” said Tyler Page, CEO of Cipher. “Elevated transaction fees on the Bitcoin network, optimal mining conditions in Texas, and a relentless focus from our operations team produced fantastic results.”

“We also entered into transactions to acquire new cutting-edge mining rigs for our increasingly ambitious growth plans. We finished the year with ample total liquidity of approximately $120 million in bitcoin² and dollars, with no debt overhang.”

Cipher Mining’s Odessa Facility

Bitcoin Production and Operations Updates for December 2023

Cipher produced ~465 BTC in December, representing a ~7.4% increase in production versus the previous month amidst average monthly network hash rate increasing ~6.3% in December relative to the previous month. As part of its regular treasury management process, Cipher sold ~228 BTC in December, ending the month with a balance of ~796 BTC.

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