2022-11-29 | NDAQ:GWACW | Press Release

[ad_1] <div id="p_lt_zoneContent_SubContent_p_lt_zoneLeft_PressReleaseDetail_divContent" style="margin:15px 0" urn="urn:kentico.content:p4434355"> Marks Essential Step at Texas Website All 4 Information Facilities Positioned to Produce as much as ~7.0 EH/s at an Common Energy Worth of ~2.7 c/kWh by Early 2023 NEW YORK, Nov. 29, 2022 (GLOBE NEWSWIRE) -- <a target="_blank" href="https://www.globenewswire.com/Tracker?data=51bAy10WEyYDoOT9TdAgTNsR8wKU5dX70sQ9ZxdloEQ00SVvxT4NuyuwH4wEpQIfOISCEX3Q23cQknREp_llt2lkw2euwFltiu666ZQyRxU=" rel="nofollow noindex ugc noopener">Cipher Mining, Inc.</a> (Nasdaq: CIFR) (“Cipher&CloseCurlyDoubleQuote; or the “Firm&CloseCurlyDoubleQuote;), a U.S.-based bitcoin mining firm, as we speak introduced it has commenced bitcoin mining operations at its Odessa information middle in Texas. “We're delighted to announce that our Odessa information middle has begun bitcoin mining operations simply 10 months after we broke floor on the web site. The beginning of mining at Odessa represents a essential step in Cipher&CloseCurlyQuote;s journey to turn into a market chief within the U.S. bitcoin mining trade. Since going public in 2021, we have now constructed 4 information facilities in Texas and at the moment are one of many lowest price producers of bitcoin,&CloseCurlyDoubleQuote; mentioned Tyler Web page, CEO. “Due to our long-term, mounted worth energy contract at Odessa, we even have a bonus that few different bitcoin miners have -- the flexibleness to mine bitcoin or resell our energy to the market, which might help mitigate the consequences of falling bitcoin costs.&CloseCurlyDoubleQuote; The Firm now operates 4 information facilities with complete capability anticipated to ramp as much as 267 MW in early 2023. As Odessa ramps up, Cipher expects to dedicate as much as 7 EH/s to self-mining throughout its 4 information facilities. As a part of its latest Q3 2022 earnings launch and enterprise replace, Cipher&CloseCurlyQuote;s Odessa energy contract was recorded as an asset valued at roughly $78.9mm as of September 30, 2022. The Odessa energy ramp-up schedule, in addition to the Firm&CloseCurlyQuote;s anticipated hash price timeline, are outlined within the Cipher Q3 2022 earnings presentation. About Cipher Cipher is an rising know-how firm targeted on the event and operation of bitcoin mining information facilities in the US. Cipher is devoted to increasing and strengthening the Bitcoin community's essential infrastructure. Along with its diversely gifted group and strategic partnerships, Cipher goals to be a market chief in bitcoin mining progress and innovation. To be taught extra about Cipher, please go to <a target="_blank" href="https://www.globenewswire.com/Tracker?data=zUDMevJp0xmUbBgq9cWLCbDX9Inq-0p59_hV4CA0cXiOrGgy0pZsYWi-DVqAIWQ0t-HjDhLM_lXNG-AV-cMX2sGbZOqdKWOdm8ETJayBQGT5HD7yEtaC6V1D29vPEVCMHlZCTx-bVQUgX7JB0iz0_9_veh2RV1LHuwSuMClejJOkYvjSy8E2-oMeQG5XNPJSZ22FwkG73olFo2vaTUlQP5WJBoatBr-I_f0aBRQzdNmG5Fuv6-2-0qSVCeCK9Z2I_LWCQUckonvdhUF6riqnrQ==" rel="nofollow noindex ugc noopener">https://www.ciphermining.com/</a>. Ahead Wanting Statements This press launch incorporates sure forward-looking statements inside the which means of the federal securities legal guidelines of the U.S. The Firm intends such forward-looking statements to be coated by the protected harbor provisions for forward-looking statements contained within the Non-public Securities Litigation Reform Act of 1995 and contains this assertion for functions of complying with these protected harbor provisions. Any statements made on this press launch or through the enterprise replace convention name that aren't statements of historic truth, together with statements about our beliefs and expectations relating to our efficiency, technique, growth plans, future operations, future working outcomes, projected prices, prospects, plans, and aims of our administration, are forward-looking statements and ought to be evaluated as such. Ahead-looking statements embody info regarding attainable or assumed future outcomes of operations, together with descriptions of our marketing strategy and techniques. These forward-looking statements typically are recognized by the phrases “consider,&CloseCurlyDoubleQuote; “challenge,&CloseCurlyDoubleQuote; “count on,&CloseCurlyDoubleQuote; “anticipate,&CloseCurlyDoubleQuote; “estimate,&CloseCurlyDoubleQuote; “intend,&CloseCurlyDoubleQuote; “technique,&CloseCurlyDoubleQuote; “future,&CloseCurlyDoubleQuote; “forecast,&CloseCurlyDoubleQuote; “alternative,&CloseCurlyDoubleQuote; “plan,&CloseCurlyDoubleQuote; “could,&CloseCurlyDoubleQuote; “ought to,&CloseCurlyDoubleQuote; “will,&CloseCurlyDoubleQuote; “would,&CloseCurlyDoubleQuote; “will probably be,&CloseCurlyDoubleQuote; “will proceed,&CloseCurlyDoubleQuote; “will doubtless consequence,&CloseCurlyDoubleQuote; and comparable expressions (together with the damaging variations of such phrases or expressions). These forward-looking statements are primarily based upon estimates and assumptions that, whereas thought of affordable by Cipher and its administration, are inherently unsure. Such forward-looking statements are topic to dangers, uncertainties, and different elements that would trigger precise outcomes to vary materially from these expressed or implied by such ahead trying statements. New dangers and uncertainties could emerge once in a while, and it isn't attainable to foretell all dangers and uncertainties. Many elements might trigger precise future occasions to vary materially from the forward-looking statements on this press launch, together with however not restricted to: volatility within the worth of Cipher&CloseCurlyQuote;s securities as a consequence of a wide range of elements, together with modifications within the aggressive and controlled trade by which Cipher operates, variations in efficiency throughout rivals, modifications in legal guidelines and rules affecting Cipher&CloseCurlyQuote;s enterprise, and the flexibility to implement enterprise plans, forecasts, and different expectations and to establish and notice extra alternatives. The foregoing listing of things will not be exhaustive. It is best to fastidiously contemplate the foregoing elements and the opposite dangers and uncertainties described within the “Threat Components&CloseCurlyDoubleQuote; part of our Annual Report on Kind 10-Ok filed with the Securities and Alternate Fee (“SEC&CloseCurlyDoubleQuote;) on March 4, 2022, the “Threat Components&CloseCurlyDoubleQuote; sections of our Quarterly Report on Kind 10-Q filed with the SEC on Might 10, 2022 and on August 9, 2022, and in Cipher&CloseCurlyQuote;s subsequent filings with the SEC together with Cipher&CloseCurlyQuote;s Quarterly Report on Kind 10-Q filed with the Securities and Alternate Fee (“SEC&CloseCurlyDoubleQuote;) on November 14, 2022. These filings establish and handle different necessary dangers and uncertainties that would trigger precise occasions and outcomes to vary materially from these contained within the forward-looking statements. Ahead-looking statements communicate solely as of the date they're made. Readers are cautioned to not put undue reliance on forward-looking statements, and Cipher assumes no obligation and, besides as required by legislation, doesn't intend to replace or revise these forward-looking statements, whether or not because of new info, future occasions, or in any other case. Contacts: Investor Contact: Josh Kane Head of Investor Relations at Cipher Mining <a target="_blank" href="https://www.globenewswire.com/Tracker?data=eZy-5WiwhR7SkkT-rwjWNvHlwIL-5hEbQBrER2jxFtXgQNjabgv70DyXhGAxGrjP0zXAQTFkKUUhH_8uIvRHHFvMwSHwI2PpoX0m5OpW7W1pUwbXPi3UX9dnlylk3D_T" rel="nofollow noindex ugc noopener">josh.kane@ciphermining.com</a> Lori Barker Blueshirt Group Investor Relations <a target="_blank" href="https://www.globenewswire.com/Tracker?data=5AUA4HxQ-CwAZmRylOxk_SR6IpSaCf5bx2SACTIMDnfGbBCd7xH7HYZJSPl3cAvi5wRKN2f-acNS8hkeGnZW1gf-hRPdF0aLnxRMTGeuoXY=" rel="nofollow noindex ugc noopener">cipher@blueshirtgroup.com</a> Media Contact: Ryan Dicovitsky / Kendal Until Dukas Linden Public Relations <a target="_blank" href="https://www.globenewswire.com/Tracker?data=51bAy10WEyYDoOT9TdAgTNIuXMQmh4JTa7w6Y-SeoWvmgc55kk4KM0svxilKoh1nuKwRh3qsYzggiORVm6LJ7My3HJtgup2uA3gEzAEoBFc=" rel="nofollow noindex ugc noopener">CipherMining@DLPR.com</a> <img src="https://www.globenewswire.com/newsroom/ti?nf=ODcwNTQxOCM1Mjg4MjA4IzIyMTAwOTA=" class="__GNW8366DE3E__IMG"/> <img src="https://ml.globenewswire.com/media/MzEwNDk5NjAtMTEwYy00NTVmLTk3NmYtMGU2ZThmNDJhNzNkLTEyMjE2NDM=/tiny/Cipher-Mining-Inc-.png" referrerpolicy="no-referrer-when-downgrade"/> </div> [ad_2] <a href="https://news.google.com/__i/rss/rd/articles/CBMicmh0dHBzOi8vc3RvY2tob3VzZS5jb20vbmV3cy9wcmVzcy1yZWxlYXNlcy8yMDIyLzExLzI5L2NpcGhlci1taW5pbmctY29tbWVuY2VzLWJpdGNvaW4tbWluaW5nLWF0LW9kZXNzYS1kYXRhLWNlbnRlctIBAA?oc=5">Source link </a>