Summary by Futu AI
On June 5, 2024, Cipher Mining Inc., a Delaware-based company specializing in bitcoin mining data centers, announced significant upgrades to its mining fleet and set new hash rate and efficiency targets for 2024 and 2025. The company, through its subsidiary Cipher Mining Infrastructure LLC, entered into a Sales and Purchase Contract with Canaan Creative Global Pte. Ltd. to acquire 6,600 A1566 model miners, with deliveries scheduled for October and November 2024. Additionally, Cipher Mining has the option to purchase more miners from Canaan, capable of deploying up to 160 MW, by June 30, 2025. The initial purchase price for the Canaan miners is $16,400,472, with payment terms spread across several milestones. Cipher Mining also entered into a Supplemental Agreement with Bitmain Technologies Delaware Limited, upgrading and accelerating the delivery of...Show More