Cipher Mining doubles hash rate capacity in January

Cipher Mining reached a hash rate capacity of 4.3 EH/s by the end of January, a 53.6% month-over-month increase.

It also more than doubled the total number of bitcoin mined, reaching 343, most of which it sold "as part of its regular treasury management process."

“Our experienced deployment and operations teams worked tirelessly to continue our rapid hash rate build throughout January,” said CEO Tyler Page in a statement on Wednesday.

 Cipher energized 13,300 new Bitmain and MicroBT miners throughout the month, according to the statement.

"Cipher remains on track to build out ~6 EH/s of self-mining capacity in the first quarter of 2023," Page said.