Cipher Mining Announces November 2024 Operational Update

Core Insights - Cipher Mining Inc. released its unaudited production and operations update for November 2024, highlighting significant metrics in bitcoin mining and operational developments [1] Group 1: Key Metrics - The company mined approximately 202 BTC in November 2024 and sold around 234 BTC, ending the month with a total of approximately 1,383 BTC held [2][4] - Cipher deployed 76,000 mining rigs, achieving a month-end operating hash rate of 12.0 EH/s and a fleet efficiency of 20.8 J/TH [2] Group 2: Operational Developments - The company is upgrading its mining fleet at the Odessa site and developing the new Black Pearl data center, with expectations to complete the Odessa upgrade by year-end [2][3] - The acquisition of the 100 MW Stingray site was completed in November, which is expected to energize in 2026, adding to Cipher's portfolio of over 2.6 GW of potential power capacity across 11 sites [3] Group 3: Management Commentary - CEO Tyler Page emphasized the efficiency improvements expected from the Odessa upgrade and the ongoing development of the Black Pearl data center, which is on track for energization by the end of Q2 2025 [2]