Cipher Mining Launches Bitcoin Production at 300 MW Texas Facility

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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.