NEW YORK - Cipher Mining Inc. (NASDAQ:CIFR), a company focused on bitcoin mining operations, has announced its unaudited production and operations update for February 2024. The update highlighted the mining of approximately 334 bitcoins (BTC) and the sale of about 33 BTC as part of its regular treasury management process.
Despite a 9.4% increase in the average monthly network hash rate, Cipher managed to end February with a balance of roughly 1,433 BTC. The company also reported that its deployed mining rigs totaled 70,000, with a month-end operating hash rate of 7.4 exahashes per second (EH/s).
Cipher is preparing for its fourth-quarter and full-year 2023 results call, which is scheduled for Tuesday, March 5th, at 8:00 am ET. The call will be accessible via live webcast and replay on the investor relations section of Cipher's website. Interested parties can register online to receive dial-in numbers and a unique PIN for the call.
The company emphasized its commitment to expanding and strengthening the Bitcoin network's critical infrastructure, aiming to be a market leader in bitcoin mining growth and innovation. Cipher's strategic partnerships and diversely talented team support its operational and developmental objectives.
Cipher's forward-looking statements in the press release highlighted potential future results of operations and financial position, business strategy, and management plans and objectives. However, the company also noted that these statements are subject to various risks, uncertainties, and other factors that could cause actual results to differ materially from expectations.
The information provided in this article is based on a press release statement from Cipher Mining Inc.
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