Cipher Mining Inc. reported revenue of $151.3 million for fiscal year 2024, up from $126.8 million in 2023, driven by higher bitcoin prices despite the April 2024 halving event. The company operated a total hashrate capacity of 15.7 EH/s across 327 MW of facilities, with owned capacity of 13.5 EH/s utilizing 266 MW. Net loss increased to $44.6 million from $25.8 million in 2023, primarily due to higher depreciation and operating expenses.The company significantly expanded its operations and development pipeline, which now includes over 3.0 GW of capacity across 11 sites. Cipher completed construction of its 207 MW Odessa Facility and expanded both Bear and Chief facilities from 10 MW to 40 MW each. The company also acquired several new sites including the Barber Lake facility and made strategic investments in next-generation mining...Show More

Cipher Mining Inc. reported revenue of $151.3 million for fiscal year 2024, up from $126.8 million in 2023, driven by higher bitcoin prices despite the April 2024 halving event. The company operated a total hashrate capacity of 15.7 EH/s across 327 MW of facilities, with owned capacity of 13.5 EH/s utilizing 266 MW. Net loss increased to $44.6 million from $25.8 million in 2023, primarily due to higher depreciation and operating expenses.The company significantly expanded its operations and development pipeline, which now includes over 3.0 GW of capacity across 11 sites. Cipher completed construction of its 207 MW Odessa Facility and expanded both Bear and Chief facilities from 10 MW to 40 MW each. The company also acquired several new sites including the Barber Lake facility and made strategic investments in next-generation mining equipment.In January 2025, Cipher secured a $50 million strategic investment from SoftBank through the sale of approximately 10.4 million shares at $4.79 per share. The company plans to deploy an additional 150 MW by end of 2025, targeting total electrical capacity of 477 MW and hashrate of approximately 25.2 EH/s. Management also announced plans to diversify into high-performance computing (HPC) data center hosting services.