Cipher Mining doubles hash rate capacity in January

Quick Take

  • Bitcoin miner Cipher more than doubled its hash rate capacity and amount of bitcoin mined 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.

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 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. 

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About Author

Catarina is a reporter for The Block based in New York City. Before joining the team, she covered local news at and at the New York Daily News. She started her career in Lisbon, Portugal, where she worked for publications such as Público and Sábado. She graduated from NYU with a MA in Journalism. Feel free to email any comments or tips to [email protected] or to reach out on Twitter (@catarinalsm).


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