Cipher Mining Acquires 7.1 EH/s in Next-Gen Bitmain Miners
As the mining industry continues to evolve, mining operations are investing in advanced mining rigs. Cipher Mining has recently announced its purchase of 7.1 EH/s of state-of-the-art mining machinery from Bitmain.
Cipher Mining has invested $99.5 million in the latest hardware, specifically the Bitmain Antminer T21 series. The T21 is an air-cooled device that offers 190 TH/s and has an efficiency of 19 J/T. The company plans to use these rigs to enhance its self-mining hashrate, with the delivery scheduled for the first half of 2025.
Cipher Mining’s CEO, Tyler Page, expressed excitement about the acquisition, stating that the new rigs would allow the company to expand its operations. The T21 series has been popular in the industry, with significant orders from other mining firms like Iris Energy and DMG. Microbt, a competitor of Bitmain, has also been securing orders for its next-generation models.
Hot Take: Cipher Mining’s Bold Move to Stay Ahead
Cipher Mining’s strategic investment in Bitmain’s next-gen miners demonstrates the company’s commitment to staying ahead in the mining industry. By acquiring these advanced rigs, Cipher Mining aims to strengthen its mining capabilities and expand its operations. This move positions the company to capitalize on the evolving landscape of bitcoin mining, ensuring its competitive edge in the market. With the planned delivery of the new equipment in the first half of 2025, Cipher Mining is poised to make significant advancements in its mining infrastructure. This investment sets the stage for further growth and success in the years to come.
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