The latest update is out from Cipher Mining ( (CIFR) ).
Cipher Mining announced its financial results for the fourth quarter and full year 2024, highlighting significant operational achievements. The company reported net earnings of $18 million and adjusted earnings of $51 million for Q4 2024. Key developments include the upgrade of the Odessa fleet, increasing the self-mining hashrate to approximately 13.5 EH/s, and the acquisition of the Stingray data center site in West Texas. Additionally, Cipher acquired more land adjacent to its Barber Lake site and entered into negotiations to build a new 500 MW HPC data center. These strategic moves are part of Cipher’s vision to become a leading data center developer for HPC infrastructure while maintaining its position in bitcoin mining.
More about Cipher Mining
Cipher Mining is focused on the development and operation of industrial-scale data centers for bitcoin mining and high-performance computing (HPC) hosting. The company aims to be a market leader in innovation, including bitcoin mining growth, data center construction, and as a hosting partner to the world’s largest HPC companies.
YTD Price Performance: 2.80%
Average Trading Volume: 11,248,393
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $1.73B
For a thorough assessment of CIFR stock, go to TipRanks’ Stock Analysis page.