On May 7, 2024, Cipher Mining Inc. reported its financial results for the first quarter ended March 31, 2024. The company announced a GAAP net income of $40 million and non-GAAP adjusted earnings of $63 million, with revenues reaching $48 million. Cipher Mining also highlighted its current self-mining hash rate of approximately 7.7 EH/s, with a target to increase to around 9.3 EH/s by the end of the third quarter of 2024 and plans to expand to approximately 25.1 EH/s by the end of 2025. The company's CEO, Tyler Page, expressed confidence in the team's execution and the company's economic position, which will support the construction of a new 300 MW data center by 2025. Cipher Mining, which focuses on the development and operation of bitcoin...Show More

On May 7, 2024, Cipher Mining Inc. reported its financial results for the first quarter ended March 31, 2024. The company announced a GAAP net income of $40 million and non-GAAP adjusted earnings of $63 million, with revenues reaching $48 million. Cipher Mining also highlighted its current self-mining hash rate of approximately 7.7 EH/s, with a target to increase to around 9.3 EH/s by the end of the third quarter of 2024 and plans to expand to approximately 25.1 EH/s by the end of 2025. The company's CEO, Tyler Page, expressed confidence in the team's execution and the company's economic position, which will support the construction of a new 300 MW data center by 2025. Cipher Mining, which focuses on the development and operation of bitcoin mining data centers, is dedicated to expanding the Bitcoin network's infrastructure. The company's financial and operational highlights include a 30 MW expansion at Bear and Chief JV data centers and the construction progress of the Black Pearl data center. Cipher Mining will use the information from the presentation posted on its website in an earnings call with investors and analysts. The company has no obligation to update the information in the presentation but may do so through various public disclosures.