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NEW YORK - Cipher Mining Inc. (NASDAQ:CIFR), a $1.39 billion market cap company specializing in bitcoin mining and hosting for high-performance computing (HPC), has released its unaudited production and operations update for May 2025, showcasing significant growth in its mining operations. According to InvestingPro data, the company operates with a beta of 2.59, indicating higher volatility compared to the broader market. In the past month, Cipher mined approximately 1,179 bitcoins and sold about 64, ending the month with a substantial holding of 2,966 bitcoins.
The company’s operating hashrate reached 13.5 exahashes per second (EH/s) by the end of May, with a fleet efficiency of 18.9 joules per terahash (J/TH). With trailing twelve-month revenue of $152.09 million and a gross margin of 18.14%, Cipher’s progress is highlighted by the near completion of its Black Pearl site’s Phase I building and the relocation of legacy rigs from the Odessa upgrade to this new facility. InvestingPro analysis reveals 12 additional key insights about Cipher’s operational efficiency and market position. These rigs are installed and ready for energization.
Cipher has also completed the purchase of additional mining rigs to fully utilize the 150 megawatts (MW) of power capacity available at Black Pearl. The deployment of these new rigs, expected to arrive in early July, is anticipated to increase the company’s hashrate capacity to approximately 23.1 EH/s.
The update reflects Cipher’s continuous efforts to expand and optimize its mining infrastructure. The company remains focused on becoming a market leader through innovative growth strategies in bitcoin mining, data center construction, and as a hosting partner for major HPC companies.
Cipher’s forward-looking statements, as part of the press release, indicate plans for further expansion and operational enhancements, though they are subject to various factors that could impact the company’s actual future results. These factors include industry volatility, regulatory changes, and the company’s ability to execute business plans and recognize additional opportunities.
The information provided is based on a press release statement from Cipher Mining Inc. and does not include any speculative content regarding the broader industry or future trends. Cipher’s continued development in the competitive field of bitcoin mining and data center operations is of interest to investors, as the company prepares for the next phase of growth with the upcoming deployment of new mining rigs. Based on InvestingPro’s Fair Value analysis, the stock appears fairly valued at current levels. Investors seeking deeper insights can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers, which provides detailed analysis of Cipher’s financial health and growth prospects among 1,400+ top US stocks.
In other recent news, Cipher Mining Inc. reported a surprising earnings beat for Q1 2025, with adjusted earnings per share of $0.02, contrary to the expected loss of $0.07 per share. The company generated $49 million in revenue, although it fell short of the anticipated $53.34 million. H.C. Wainwright maintained a Buy rating for Cipher Mining, setting a price target of $6.75, following the company’s robust first-quarter results and strategic advancements in high-performance computing and AI initiatives. Cipher Mining has also announced a joint venture with Fortress to establish data centers, which could secure about 40% of future HPC economics without further capital investment. The company is progressing ahead of schedule with its 150 MW expansion at Black Pearl, anticipating an increase in Bitcoin mining capacity. Additionally, Cipher Mining plans to offer $150 million in convertible senior notes due in 2030, with Morgan Stanley managing the offering. The proceeds from this offering will fund the Black Pearl data center project, including purchasing mining rigs and related expenses.
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