NEW YORK, July 02, 2024 (GLOBE NEWSWIRE) — Cipher Mining Inc. (NASDAQ:CIFR) (“Cipher” or the “Company”) right now launched its unaudited manufacturing and operations replace for June 2024.

Key Highlights

¹ Contains June energy gross sales estimates (primarily based on present meter knowledge and nodal costs) equal to six bitcoin (utilizing month-end bitcoin price of $63,370)

Administration Commentary for June

In June, Cipher delivered one other stable month of manufacturing and continued to broaden operations, with energization of the 30 MW expansions at every of its Bear and Chief knowledge facilities.

“At Bear we have now received and installed all the new mining rigs, and we expect to finish installing the remainder of the new mining rigs at Chief later this month,” mentioned Tyler Web page, CEO of Cipher.

Bitcoin Manufacturing and Operations Updates for June 2024

Cipher produced ~176¹ BTC in June. As a part of its common treasury administration course of, Cipher bought ~103 BTC in June, ending the month with a stability of ~2,209 BTC.

30 MW expansions at Bear and Chief

About Cipher

Cipher is an rising know-how firm centered on the event and operation of bitcoin mining knowledge facilities. 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 development and innovation. To study extra about Cipher, please go to https://www.ciphermining.com/

Ahead Wanting Statements

This press release accommodates sure forward-looking statements inside the that means of the federal securities legal guidelines of america. The Firm intends such forward-looking statements to be lined by the protected harbor provisions for forward-looking statements contained within the Non-public Securities Litigation Reform Act of 1995 and contains this assertion for functions of complying with these protected harbor provisions. Any statements made on this press release that aren’t statements of historic truth, together with statements about our beliefs and expectations relating to our future outcomes of operations and monetary place, enterprise technique, timing and probability of success, potential growth of or further bitcoin mining knowledge facilities, expectations relating to the operations of mining facilities, and administration plans and aims, are forward-looking statements and needs to be evaluated as such. Ahead-looking statements embody data regarding attainable or assumed future outcomes of operations, together with descriptions of our marketing strategy and techniques. These forward-looking statements usually are recognized by the phrases “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “seeks,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “strategy,” “future,” “forecasts,” “opportunity,” “predicts,” “potential,” “would,” “will likely result,” “continue,” and related expressions (together with the destructive variations of such phrases or expressions).

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These forward-looking statements are primarily based upon estimates and assumptions that, whereas thought of cheap by Cipher and our administration, are inherently unsure. Such forward-looking statements are topic to dangers, uncertainties, and different components that would trigger precise outcomes to vary materially from these expressed or implied by such forward-looking statements. New dangers and uncertainties might emerge sometimes, and it’s not attainable to foretell all dangers and uncertainties. Many components might trigger precise future occasions to vary materially from the forward-looking statements on this press release, together with however not restricted to: volatility within the price of Cipher’s securities resulting from quite a lot of components, together with modifications within the aggressive and controlled business during which Cipher operates, variations in efficiency throughout rivals, modifications in legal guidelines and laws affecting Cipher’s enterprise, and the power to implement enterprise plans, forecasts, and different expectations and to determine and notice further alternatives. The foregoing listing of things just isn’t exhaustive. It’s best to fastidiously think about the foregoing components and the opposite dangers and uncertainties described within the “Risk Factors” part of our Annual Report on Kind 10-Ok filed with the Securities and Trade Fee (“SEC”) on March 5, 2024, and in Cipher’s subsequent filings with the SEC. These filings determine and handle different necessary dangers and uncertainties that would trigger precise occasions and outcomes to vary materially from these contained within the forward-looking statements. Ahead-looking statements converse 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 data, future occasions, or in any other case.

Contacts:

Investor Contact:
Josh Kane
Head of Investor Relations at Cipher Mining
josh.kane@ciphermining.com

Media Contact:
Ryan Dicovitsky / Kendal Until
Dukas Linden Public Relations
CipherMining@DLPR.com

¹ Contains June energy gross sales estimates (primarily based on present meter knowledge and nodal costs) equal to six bitcoin (utilizing month-end bitcoin price of $63,370)

Photographs accompanying this announcement can be found at
https://www.globenewswire.com/NewsRoom/AttachmentNg/a04833bd-4115-4a25-a89a-1f95bb6ce472
https://www.globenewswire.com/NewsRoom/AttachmentNg/3b496f42-e0cf-44fa-98f2-5208f2a4137c