Cipher Mining Commences Bitcoin Mining at Odessa Data Center

<div>Marks Vital Step at Texas Web site 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 noopener" data-ylk="slk:Cipher Mining, Inc." class="link ">Cipher Mining, Inc.</a> (Nasdaq: CIFR) (“Cipher” or the “Firm”), a U.S.-based bitcoin mining firm, at this time introduced it has commenced bitcoin mining operations at its Odessa knowledge heart in Texas.“We're delighted to announce that our Odessa knowledge heart has begun bitcoin mining operations simply 10 months after we broke floor on the web site. The beginning of mining at Odessa represents a important step in Cipher’s journey to grow to be a market chief within the U.S. bitcoin mining trade. Since going public in 2021, now we have constructed 4 knowledge facilities in Texas and at the moment are one of many lowest price producers of bitcoin,” mentioned Tyler Web page, CEO. “Due to our long-term, fastened value energy contract at Odessa, we even have a bonus that few different bitcoin miners have -- the pliability to mine bitcoin or resell our energy to the market, which will help mitigate the results of falling bitcoin costs.”The Firm now operates 4 knowledge facilities with whole 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 knowledge facilities.As a part of its latest Q3 2022 earnings launch and enterprise replace, Cipher’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’s anticipated hash price timeline, are outlined within the Cipher Q3 2022 earnings presentation.About Cipher Cipher is an rising expertise firm centered on the event and operation of bitcoin mining knowledge facilities in america. Cipher is devoted to increasing and strengthening the Bitcoin community's important infrastructure. Along with its diversely proficient crew and strategic partnerships, Cipher goals to be a market chief in bitcoin mining progress and innovation. To study 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 noopener" data-ylk="slk:https://www.ciphermining.com/" class="link ">https://www.ciphermining.com/</a>.<button class="link caas-button collapse-button" aria-label="" title="" data-ylk="elm:readmore;slk:Story continues">Story continues</button>Ahead Trying StatementsThis press launch comprises sure forward-looking statements inside the that 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 consists of this assertion for functions of complying with these protected harbor provisions. Any statements made on this press launch or in the course of the enterprise replace convention name that aren't statements of historic truth, together with statements about our beliefs and expectations concerning our efficiency, technique, growth plans, future operations, future working outcomes, projected prices, prospects, plans, and targets of our administration, are forward-looking statements and needs to be evaluated as such. Ahead-looking statements embrace info regarding potential or assumed future outcomes of operations, together with descriptions of our marketing strategy and methods. These forward-looking statements typically are recognized by the phrases “imagine,” “challenge,” “count on,” “anticipate,” “estimate,” “intend,” “technique,” “future,” “forecast,” “alternative,” “plan,” “could,” “ought to,” “will,” “would,” “shall be,” “will proceed,” “will seemingly consequence,” and comparable expressions (together with the adverse 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 wanting statements. New dangers and uncertainties could emerge infrequently, and it's not potential to foretell all dangers and uncertainties. Many elements 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 value of Cipher’s securities on account of quite a lot of elements, together with modifications within the aggressive and controlled trade wherein Cipher operates, variations in efficiency throughout opponents, modifications in legal guidelines and laws affecting Cipher’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 shouldn't be exhaustive. It's best to rigorously contemplate the foregoing elements and the opposite dangers and uncertainties described within the “Danger Components” part of our Annual Report on Type 10-Ok filed with the Securities and Alternate Fee (“SEC”) on March 4, 2022, the “Danger Components” sections of our Quarterly Report on Type 10-Q filed with the SEC on Could 10, 2022 and on August 9, 2022, and in Cipher’s subsequent filings with the SEC together with Cipher’s Quarterly Report on Type 10-Q filed with the Securities and Alternate Fee (“SEC”) on November 14, 2022. These filings establish and tackle different vital 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 regulation, 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 noopener" data-ylk="slk:josh.kane@ciphermining.com" class="link ">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 noopener" data-ylk="slk:cipher@blueshirtgroup.com" class="link ">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 noopener" data-ylk="slk:CipherMining@DLPR.com" class="link ">CipherMining@DLPR.com</a><figure class="caas-figure"><div style=""><div><div class="caas-img-container caas-img-loader noheight"><img class="caas-img caas-lazy has-preview" alt="" src="https://s.yimg.com/ny/api/res/1.2/DcPebSCkPNVcME5Q14hVuQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MA--/https://ml.globenewswire.com/media/MzEwNDk5NjAtMTEwYy00NTVmLTk3NmYtMGU2ZThmNDJhNzNkLTEyMjE2NDM=/tiny/Cipher-Mining-Inc-.png"/><noscript><img alt="" src="https://s.yimg.com/ny/api/res/1.2/DcPebSCkPNVcME5Q14hVuQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MA--/https://ml.globenewswire.com/media/MzEwNDk5NjAtMTEwYy00NTVmLTk3NmYtMGU2ZThmNDJhNzNkLTEyMjE2NDM=/tiny/Cipher-Mining-Inc-.png" class="caas-img"/></noscript></div></div></div></figure></div>