Cipher Mining Inc. reports January 2025 production: 2,191 BTC mined, 471 BTC sold, and 21,091 BTC held.
Quiver AI Summary
Cipher Mining Inc. announced its unaudited production and operations update for January 2025, revealing that the company mined approximately 2,191 BTC, sold 471 BTC, and held a total of 21,091 BTC at the end of the month. Cipher deployed 75,000 mining rigs with an operating hashrate of 13.5 EH/s and fleet efficiency of 18.9 J/TH. The company is making significant progress at its Black Pearl site, nearing the completion of Phase 1 buildings which will accommodate thousands of mining rigs. With a vision to establish itself as a leader in high-performance computing data center development, Cipher continues to engage with potential tenants and financing partners. The press release also includes forward-looking statements and encourages investors to consider various risks and uncertainties that could impact future performance.
Potential Positives
- Cipher Mining produced a total of approximately 2,191 BTC in January 2025, indicating robust mining operations.
- The company ended January with a balance of around 1,091 BTC, showcasing strong treasury management and liquidity.
- The construction progress at the Black Pearl site is on track, nearing completion of Phase 1, which will enhance Cipher's operational capacity.
- Cipher's focus on becoming a leader in high-performance computing (HPC) data center development positions it strategically in a growing market.
Potential Negatives
- Declining production metrics: Cipher's BTC mined decreased to 1,219, down from 2,191 in the prior month, indicating potential operational inefficiencies or challenges in maintaining output levels.
- High amount of pledged collateral: Approximately 325 BTC are pledged as collateral, raising concerns regarding liquidity and financial stability that could affect operations or expansion plans.
- Increased reliance on forward-looking statements: The release contains numerous forward-looking statements which highlight the company's dependency on uncertain factors, posing risks to investor confidence and clarity on future performance.
FAQ
What were Cipher Mining's BTC production figures for January 2025?
Cipher Mining produced approximately 2,191 BTC in January 2025.
How many BTC did Cipher Mining sell in January 2025?
The company sold around 471 BTC in January 2025 as part of its treasury management process.
What is Cipher Mining's current BTC holding?
As of the end of January 2025, Cipher Mining held approximately 1,091 BTC.
What developments occurred at Cipher's Black Pearl site?
Cipher neared completion of Phase 1 buildings covering over 100,000 square feet at the Black Pearl site.
Where can I find more information about Cipher Mining?
More information can be found on Cipher Mining's official website at https://www.ciphermining.com/.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$CIFR Insider Trading Activity
$CIFR insiders have traded $CIFR stock on the open market 24 times in the past 6 months. Of those trades, 0 have been purchases and 24 have been sales.
Here’s a breakdown of recent trading of $CIFR stock by insiders over the last 6 months:
- TOP HOLDCO B.V. BITFURY has made 0 purchases and 20 sales selling 12,081,903 shares for an estimated $44,676,956.
- PATRICK ARTHUR KELLY (Co-President and COO) has made 0 purchases and 2 sales selling 142,903 shares for an estimated $773,074.
- WILLIAM IWASCHUK (Co-President and CLO) has made 0 purchases and 2 sales selling 150,600 shares for an estimated $595,200.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$CIFR Hedge Fund Activity
We have seen 97 institutional investors add shares of $CIFR stock to their portfolio, and 72 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- MILLENNIUM MANAGEMENT LLC removed 5,280,573 shares (-99.1%) from their portfolio in Q3 2024, for an estimated $20,435,817
- VANGUARD GROUP INC added 3,984,821 shares (+30.7%) to their portfolio in Q3 2024, for an estimated $15,421,257
- BLACKROCK, INC. added 3,237,894 shares (+26.3%) to their portfolio in Q3 2024, for an estimated $12,530,649
- INVESCO LTD. removed 2,899,345 shares (-34.4%) from their portfolio in Q3 2024, for an estimated $11,220,465
- DIMENSIONAL FUND ADVISORS LP added 1,655,531 shares (+320.8%) to their portfolio in Q3 2024, for an estimated $6,406,904
- TIDAL INVESTMENTS LLC added 1,584,874 shares (+73.4%) to their portfolio in Q3 2024, for an estimated $6,133,462
- GEODE CAPITAL MANAGEMENT, LLC added 1,511,455 shares (+37.8%) to their portfolio in Q3 2024, for an estimated $5,849,330
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
NEW YORK, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Cipher Mining Inc. (NASDAQ:CIFR) (“Cipher” or the “Company”) today released its unaudited production and operations update for January 2025.
Key Highlights
Key Metrics | January 2025 |
BTC Mined 1 | 219 |
BTC Sold | 471 |
BTC Held 2 | 1,091 |
Deployed Mining Rigs | 75,000 |
Month End Operating Hashrate (EH/s) | 13.5 |
Month End Fleet Efficiency (J/TH) | 18.9 |
1
Includes January power sales estimates (based on current meter data and nodal prices) equivalent to 1 bitcoin (using month-end bitcoin price of $102,297) and 29 BTC mined at JV data centers representing Cipher’s ownership
2 Includes ~325 BTC pledged as collateral
Management Commentary for January
Cipher continued to make progress at its Black Pearl site, nearing completion of the Phase 1 buildings, which cover more than 100,000 square feet. In addition, the Company continued discussions with potential tenants and financing partners, aligning with management’s vision to establish Cipher as a leader in HPC data center development.
Bitcoin Production and Operations Updates for January 2025
Cipher produced ~219 1 BTC in January. As part of its regular treasury management process, Cipher sold ~471 BTC in January, ending the month with a balance of ~1,091 2 BTC.
Construction at Black Pearl site. Each of miner wings 1-3 is ~1,000 feet long and will hold approximately 13,440 mining rigs.
About Cipher
Cipher is focused on the development and operation of industrial-scale data centers for bitcoin mining and HPC hosting. Cipher aims to be a market leader in innovation, including in bitcoin mining growth, data center construction and as a hosting partner to the world's largest HPC companies. To learn more about Cipher, please visit https://www.ciphermining.com/ .
Forward Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws of the United States. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Any statements made in this press release that are not statements of historical fact, such as, statements about its beliefs and expectations regarding its planned business model and strategy, its bitcoin mining and HPC data center development and management plans and objectives, are forward-looking statements and should be evaluated as such. These forward-looking statements generally are identified by the words “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “seeks,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “strategy,” “future,” “forecasts,” “opportunity,” “predicts,” “potential,” “would,” “will likely result,” “continue,” and similar expressions (including the negative versions of such words or expressions).
These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Cipher and its management, are inherently uncertain. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: volatility in the price of Cipher’s securities due to a variety of factors, including changes in the competitive and regulated industry in which Cipher operates, Cipher’s evolving business model and strategy and efforts it may make to modify aspects of its business model or engage in various strategic initiatives, variations in performance across competitors, changes in laws and regulations affecting Cipher’s business, and the ability to implement business plans, forecasts, and other expectations and to identify and realize additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 filed with the Securities and Exchange Commission (“SEC”), as any such factors may be updated from time to time in the Company’s other filings with the SEC, including without limitation, the Company’s Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2024. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Cipher assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
The Company maintains a dedicated investor website at https://investors.ciphermining.com/investors (“Investors’ Website”). Financial and other important information regarding the Company is routinely posted on and accessible through the Investors Website. Cipher uses its Investors’ Website as a distribution channel of material information about the Company, including through press releases, investor presentations, reports and notices of upcoming events. Cipher intends to utilize its Investors’ Website as a channel of distribution to reach public investors and as a means of disclosing material non-public information for complying with disclosure obligations under Regulation FD. In addition, you may sign up to automatically receive email alerts and other information about the Company by visiting the “Email Alerts” option under the Investors Resources section of Cipher’s Investors’ Website and submitting your email address.
Contacts:
Investor Contact:
Courtney Knight
Head of Investor Relations at Cipher Mining
[email protected]
Media Contact:
Ryan Dicovitsky / Kendal TillDukas
Linden Public Relations
[email protected]
1 Includes January power sales estimates (based on current meter data and nodal prices) equivalent to 1 bitcoin (using month-end bitcoin price of $102,297) and 29 BTC mined at JV data centers representing Cipher’s ownership
2 Includes ~325 BTC pledged as collateral
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6a183532-b55f-42d1-ae4d-82b3ba284880