Cipher Mining has reached an agreement with the Chinese manufacturer Bitmain to purchase a significant batch of equipment for mining the first cryptocurrency.
As part of this deal, Cipher Mining will acquire 37,396 Antminer T21 miners with a hashrate of 7.1 EH/s, which will be delivered in the first half of 2025. The company also has an option to purchase an additional 45,706 devices with a capacity of 8.7 EH/s in 2024.
Cipher CEO, Tyler Page, noted: "The acquisition of Bitmain's T21 mining rigs with a 7.1 EH/s hashrate will allow us to create the first 135 MW of capacity at our recently acquired Black Pearl facility. We also have the option to purchase up to 8.7 EH/s T21 in 2024. If we decide to use this option, we will have enough mining capacity for another 165 MW of infrastructure."
According to the information from the press release, the cost of miners will be $14 for each TH/s. According to the Hashrate Index, the current market prices for devices with power consumption of less than 25 J/TH at the time of writing are $13.54 for each TH/s.
After the announcement of the deal, the company's shares rose by 17.31%. At the time of writing, the stock price was $3.05.
Cipher Mining earlier in 2022 launched a network of bitcoin miners in a new 40 MW data center in Texas, which is powered by a wind farm. In addition, in the spring of 2023, the company announced the purchase of 11,000 A1346 devices from Canaan.
Do not forget that in December, Australian Iris Energy entered into an agreement with Bitmain to purchase 8,380 Antminer T21 miners for $22.3 million.
