Cipher Mining Announces 316 BTC Mined In March 2024, Provides Operational Update
Portfolio Pulse from Benzinga Newsdesk
Cipher Mining Inc. (NASDAQ:CIFR) announced its March 2024 production and operations update, highlighting the mining of 316 BTC, the sale of 8 BTC, and an ending balance of 1,741 BTC. The company also noted significant progress in its data center expansions and a strong first quarter despite challenges such as power curtailment and increasing network hash rate. Cipher's operational achievements include maintaining a high uptime, optimizing its portfolio, and preparing for future expansions and the upcoming Bitcoin halving.
April 01, 2024 | 8:10 pm
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Cipher Mining Inc. reported a strong March 2024 with 316 BTC mined, 8 BTC sold, and an ending balance of 1,741 BTC. The company also highlighted significant progress in data center expansions and a strong first quarter despite operational challenges.
Cipher Mining's strong performance in March 2024, including the mining of 316 BTC and the strategic sale of 8 BTC, indicates a solid operational foundation and effective treasury management. The company's progress on data center expansions and its preparation for the upcoming Bitcoin halving are likely to positively impact investor sentiment and CIFR's stock price in the short term. The announcement of maintaining a high uptime and optimizing its portfolio despite challenges such as power curtailment and increasing network hash rate further reinforces the company's resilience and growth potential.
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