Cipher Mining Announces December 2023 Operational Update; Cipher Produced ~465 BTC In December, Representing A ~7.4% Increase In Production Versus The Previous Month
Portfolio Pulse from Benzinga Newsdesk
Cipher Mining Inc. (NASDAQ:CIFR) reported a 7.4% increase in Bitcoin production in December 2023, mining approximately 465 BTC. The company sold about 228 BTC and ended the month with a balance of 796 BTC. Cipher Mining also acquired new mining rigs and reported $120 million in liquidity with no debt. The company's operational update highlighted optimal mining conditions and a focus on operations as key factors in their increased production.
January 02, 2024 | 2:17 pm
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Cipher Mining Inc. announced a 7.4% increase in BTC production in December 2023, with a total of 465 BTC mined. The company sold 228 BTC, ending with 796 BTC held, and reported strong liquidity with no debt.
The positive production update, with an increase in Bitcoin mined and strong liquidity position, is likely to be viewed favorably by investors. The acquisition of new mining rigs indicates growth potential and operational efficiency, which could lead to a short-term positive impact on CIFR's stock price.
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