Cipher Mining Joint Venture Entities Enter Agreement To Purchase 16,700 Units Of Avalon A1466 Miners For Delivery In Q4 Of 2024
Portfolio Pulse from Benzinga Newsdesk
Cipher Mining has entered into an agreement through its joint venture entities to purchase 16,700 units of Avalon A1466 miners, with delivery expected in Q4 of 2024. This move is likely to expand Cipher Mining's operational capabilities and enhance its mining efficiency once the units are deployed.
January 03, 2024 | 9:16 pm
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Cipher Mining's purchase of 16,700 Avalon A1466 miners indicates a strategic expansion and potential increase in mining efficiency and output in the long term, starting Q4 2024.
The purchase of a significant number of mining units suggests a positive outlook for Cipher Mining's future operations and potential revenue growth. However, the impact is long-term, with delivery and deployment not until Q4 2024, which may moderate immediate stock reaction.
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