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<link href="https://www.globenewswire.com/styles/gnw_nitf.css" rel="stylesheet" type="text/css"/> <p align="left"> NEW YORK, March 01, 2023 (GLOBE NEWSWIRE) -- <a target="_blank" href="https://www.globenewswire.com/Tracker?data=pQAARiLr6Z8ip2usNECU6mcilbZwyG4XIKxojNlWh-iv0L4vkp4HlhZceeiL_mX96qSszhlV9Tyz5VRniieBjQ==" rel="nofollow noopener"> <strong> <u> Cipher Mining </u> </strong> </a> <strong> (NASDAQ:CIFR) </strong> (“Cipher” or the “Firm”), a number one developer and operator of bitcoin mining knowledge facilities, at the moment introduced its unaudited manufacturing and operations replace for February 2023. <br/></p> <p> <strong> Key Highlights </strong> </p> <table style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; border-collapse: collapse; width:100%; border-collapse:collapse ;"> <tr> <td style="border-top: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; vertical-align: top ; "> <strong> Key Metrics </strong> </td> <td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: top ; "> <strong> February 2023* </strong> </td> </tr> <tr> <td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; vertical-align: top ; "> <strong> BTC Mined </strong> </td> <td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: top ; "> <strong> 398 </strong> </td> </tr> <tr> <td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; vertical-align: top ; "> <strong> BTC Offered </strong> </td> <td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: top ; "> <strong> 357 </strong> </td> </tr> <tr> <td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; vertical-align: top ; "> <strong> BTC Held </strong> </td> <td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: top ; "> <strong> 465 </strong> </td> </tr> <tr> <td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; vertical-align: top ; "> <strong> Deployed Mining Rigs </strong> </td> <td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: top ; "> <strong> 48,500 </strong> </td> </tr> <tr> <td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; vertical-align: top ; "> <strong> Month Finish Working Hash Fee (EH/s) </strong> </td> <td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: top ; "> <strong> 5.2 </strong> </td> </tr> </table> <p> *Approximate values </p> <p> <strong> Administration Commentary </strong> <br/>Through the month of February, Cipher continued to increase operations at its Odessa facility, fund capital expenditures out of operations and construct its bitcoin stock. Cipher started the month with the potential to mine as much as ~13.0 bitcoin in a day and completed with the potential to mine ~15.8 bitcoin <sup> 1 </sup> – a ~21% enhance in a single month. </p> <p> “Our regular march to deploy an preliminary 6 EH/s continued all through February,” stated Tyler Web page, CEO of Cipher. “We now have over 4.2 EH/s of self-mining operations at our Odessa facility and roughly 5.2 EH/s of self-mining operations throughout all of our websites. Moreover, we managed to construct our bitcoin stock through the month whereas concurrently paying working bills and masking vital capital expenditures at Odessa out of our month-to-month manufacturing. Our flexibility to pay for enlargement whereas avoiding fairness dilution and dear debt demonstrates the true energy of being a low-cost producer.” </p> <p> <img alt="Odessa Data Center Staging Area" height="450" name="GNW_RichHtml_External_IMG" src="https://ml.globenewswire.com/Resource/Download/fda3de6e-3745-496e-bfe3-bf9eb4b6a01e" width="600"/> <br/></p> <p> <em> Odessa Information Middle Staging Space </em> </p> <p> <img alt="Energized 7,710 Bitcoin Miners at Odessa in February 2023" height="600" name="GNW_RichHtml_External_IMG" src="https://ml.globenewswire.com/Resource/Download/448a5098-70c9-4525-92dc-36666af1bda8" width="450"/> <br/></p> <p> <em> Energized 7,710 Bitcoin Miners at Odessa in February 2023 </em> </p> <p> <img alt="Odessa Data Center Area B _ C" height="290" name="GNW_RichHtml_External_IMG" src="https://ml.globenewswire.com/Resource/Download/42878b48-6bdc-416f-b432-0e79f07b1041" width="600"/> <br/></p> <p> <em> Odessa Information Middle Space B & C </em> </p> <p> <strong> Bitcoin Manufacturing and Operations Updates for February 2023 </strong> </p> <p align="left" style="padding-left:0pt;"> Through the month of February, Cipher energized 7,710 new Bitmain and MicroBT miners, representing a rise in hash price of ~0.9 EH/s and a ~19% enhance relative to the earlier month. With the rise in hash price, Cipher produced ~398 BTC in February, representing a ~16% enhance in manufacturing relative to the earlier month. As a part of its common treasury administration course of, Cipher offered ~357 BTC in February, ending the month with a steadiness of ~465 BTC. </p> <p align="left" style="padding-left:0pt;"> <strong> About Cipher </strong> <br/>Cipher is an rising expertise firm targeted on the event and operation of bitcoin mining knowledge facilities in america. Cipher is devoted to increasing and strengthening the Bitcoin community's crucial infrastructure. Along with its diversely gifted staff 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 https://www.ciphermining.com/. </p> <p align="left" style="padding-left:0pt;"> <strong> Ahead Wanting Statements </strong> <br/>This press launch comprises sure forward-looking statements throughout the that means of the federal securities legal guidelines of america. The Firm intends such forward-looking statements to be lined 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 that aren't statements of historic reality, together with statements about our beliefs and expectations relating to our efficiency, technique, enlargement plans, future operations, future working outcomes, projected prices, prospects, plans, and goals of our administration, are forward-looking statements and ought to be evaluated as such. Ahead-looking statements embody info regarding doable or assumed future outcomes of operations, together with descriptions of our marketing strategy and techniques. These forward-looking statements usually are recognized by the phrases “consider,” “undertaking,” “anticipate,” “anticipate,” “estimate,” “intend,” “technique,” “future,” “forecast,” “alternative,” “plan,” “could,” “ought to,” “will,” “would,” “shall be,” “will proceed,” “will probably consequence,” and related expressions (together with the adverse variations of such phrases or expressions). </p> <p align="left" style="padding-left:0pt;"> These forward-looking statements are primarily based upon estimates and assumptions that, whereas thought-about affordable by Cipher and our administration, are inherently unsure. Such forward-looking statements are topic to dangers, uncertainties, and different components that might trigger precise outcomes to vary materially from these expressed or implied by such ahead trying statements. New dangers and uncertainties could emerge every now and then, and it's not doable to foretell all dangers and uncertainties. Many components may 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’s securities attributable to quite a lot of components, together with adjustments within the aggressive and controlled business by which Cipher operates, variations in efficiency throughout opponents, adjustments in legal guidelines and rules affecting Cipher’s enterprise, and the flexibility to implement enterprise plans, forecasts, and different expectations and to determine and notice further alternatives. The foregoing checklist of things just isn't exhaustive. It is best to fastidiously think about the foregoing components and the opposite dangers and uncertainties described within the “Threat Components” part of our Annual Report on Type 10-Ok filed with the Securities and Trade Fee (“SEC”) on March 4, 2022, the “Threat Components” sections of our Quarterly Report on Type 10-Q filed with the SEC on Might 10, 2022 and on November 14, 2022, and in Cipher’s subsequent filings with the SEC. These filings determine and tackle different necessary dangers and uncertainties that might trigger precise occasions and outcomes to vary materially from these contained within the forward-looking statements. Ahead-looking statements converse 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 on account of new info, future occasions, or in any other case. </p> <p align="left" style="padding-left:0pt;"> —————————— </p> <p align="left" style="padding-left:0pt;"> <sup> 1 </sup> Assumes community hash price of 297 EH/s and 910 bitcoins mined per day </p> <p align="left" style="padding-left:0pt;"> <strong> Contacts: </strong> <br/><strong> Investor Contact: </strong> <br/>Josh Kane <br/>Head of Investor Relations at Cipher Mining <br/><a target="_blank" href="https://www.globenewswire.com/Tracker?data=Abbjtn3dAgcNonyWT7FBAV2KJ9B9fSYbsvJEYCYvCeaWZjrhGrh-5TKlt8SJXk51h-gp5KHVCF8lx0FTtmS4jB7inI5LF3WUmxaxIFdt3OxaEbY4S7YBtkPPdXeSMyLDZBeU_UwCReNSpc1mEaCzbMvmzZkULN6XIn1MjZj_FLAW3GV2G9ZaIr5bJzTzD_i1BoHNbvYn3YQ8x80ysrE-Zi5dKqIGtN2dmAqxhpdOy5Zwjk_8FXtYuwnCsXLFw94Ff7wTaX6W1s8hu618xD4wkaH74Uggycl3rrOS_G9ScYg=" rel="nofollow noopener"> <u> josh.kane@ciphermining.com </u> </a> <br/><strong> Media Contact: </strong> <br/>Ryan Dicovitsky / Kendal Until <br/>Dukas Linden Public Relations <br/><a target="_blank" href="https://www.globenewswire.com/Tracker?data=pQAARiLr6Z8ip2usNECU6jswKw7rTRRASGS8JAY4qoutRYo4sV957rYIl17C4YhdT5J8Qf39DFyMAIxsmSll07ILFLDtSw2oHCSUns3BAD49mVlVG-tivXRtZyQAnvd6KY18PsQuTbZ2_A7PjEG19854y7deHh_QZLwmKLOT2nlUNqbQcPD0taz6l-l49xM8dVutrPlfykhRyBratFm1dAVWvi-eLQ8xkNQAvvw0jDLiPvzHYLlqchl3_4ItJV93GW60Y59hTvuqTRL4CUzVqQ==" rel="nofollow noopener"> <u> CipherMining@DLPR.com </u> </a> </p> <p align="left" style="padding-left:0pt;"> Photographs accompanying this announcement can be found at: <a target="_blank" href="https://www.globenewswire.com/Tracker?data=ZkJov2LhjtND3FmHVDxm_xlqTfq_stu7nsEhRnz-PuNLUp-e2HksuDWXKSHAuvpAG4ThVpduhrbaUwV0kMuXGhlfvJ8uDlFh55dmhZInfPaQYcLgxpRPKP-YtuVgnwNDSGjPxKS52Ek2uCG6AlyIlgVgQYhWQyplEyUeYBv85zlxERQq9ti6GnnXSjInc8RpeXEzddLR_gbnwRNmoTCS2E5nfqdiF7nJnjGBYEKdFdWPRvvuWLYPGYZw4v5Imvxi7e9K_Nunc9B1nCfgqGC7Sw==" rel="nofollow noopener"> https://www.globenewswire.com/NewsRoom/AttachmentNg/fda3de6e-3745-496e-bfe3-bf9eb4b6a01e </a> </p> <p> <a target="_blank" href="https://www.globenewswire.com/Tracker?data=ZkJov2LhjtND3FmHVDxm_xlqTfq_stu7nsEhRnz-PuNLUp-e2HksuDWXKSHAuvpAm4RzQ4lmG5IsacKwi-kYa7DAh0b_0O5ra1nVES5IRjbyZPpAKalPvZLXzBQbqPqfGaBwEbaLSeGtmHKHvwwla1itcG4V7AJJMl-0qOyufxPipwOHnfBeZPEvg-grUcLz2C3AT2UkzREmyQGDPlmkx2kHA_fD5pNwk4_ZzKnahDJPkaGpjNV27fENjWpHjCuYzqu9fY7bI2g3eW3s-ziIAw==" rel="nofollow noopener"> https://www.globenewswire.com/NewsRoom/AttachmentNg/448a5098-70c9-4525-92dc-36666af1bda8 </a> </p> <p> <a target="_blank" href="https://www.globenewswire.com/Tracker?data=ZkJov2LhjtND3FmHVDxm_xlqTfq_stu7nsEhRnz-PuNLUp-e2HksuDWXKSHAuvpAPHiAwX1bCdcxF8P7PgA6N9uOD0Dp2wDSDWnXgSdUu-9GZ0OEf-mWmOYpFWQGPNqant6uFfV7Cok20IJ74FmNcNjl4tJmb-3XFWwoH1HjU8rTWrEm2SHk6-gZHUZeHKexYXNf0FfqoQQ8CDFhdqzrg66iFCaYbg3WFIN3sDpXnXt4PIpb9dPS_C4GNJGAg7gA6tRdj6bdIrxaZlJYt0-kVg==" rel="nofollow noopener"> https://www.globenewswire.com/NewsRoom/AttachmentNg/42878b48-6bdc-416f-b432-0e79f07b1041 </a> </p>
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