Cipher Mining Launches Bitcoin Production at 300 MW Texas Facility

Cipher Mining (CIFR) has initiated bitcoin production at its 300 MW Black Pearl facility in Texas, now operating five active data centers. Key points include:

Phase I operates at 150 MW with an initial hashrate of 2.5 EH/s.
Expected hashrate increase to 9.6 EH/s by Q3 end as new rigs are deployed.
Projected total mining capacity of 23.1 EH/s once fully operational.
Site delivered within 16 months, maintaining low production costs amid market volatility.
Plans for a 2.6 GW infrastructure pipeline for both HPC clients and bitcoin mining.
CIFR shares declined 6.9% during Monday trading but rose 1.9% post-hours.

CEO Tyler Page stated that the company is proud to be mining bitcoin ahead of schedule.