Cipher Mining purchases 7.1 EH/s of Bitmain T21 miners for $99.5M, option for 8.7 EH/s more

Cipher Digital Inc.

Purchase of 37,396 Antminer T21 miners for $99.5M ($14/TH), delivery in H1 2025.
Option to acquire up to 45,706 additional miners (8.7 EH/s) in 2024 at same fixed price.
If full option exercised, total hashrate under contract/operation reaches 24.2 EH/s with fleet efficiency 22.6 J/TH.
Miners intended for initial 135 MW buildout at Black Pearl site and other expansion.
CEO expects favorable pricing dynamics ahead of bitcoin bull market.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Cipher Digital Inc. entered into Future Sales and Purchase Agreement with Bitmain Technologies Delaware Limited valued at $99,473,360 (effective 2023-12-16).

Action: entry
Agreement: supply
Counterparty: Bitmain Technologies Delaware Limited
Value: $99,473,360
Effective: 2023-12-16

Exact text from the filing

On December 16, 2023, Cipher Mining Inc. (the “Company”), through its wholly-owned subsidiary Cipher Mining Infrastructure LLC, a Delaware limited liability company, entered into a fully executed Future Sales and Purchase Agreement (the “Agreement”) with Bitmain Technologies Delaware Limited (“Bitmain”) to purchase 37,396 Antminer T21 miners (the “2025 Miners"), which will be delivered in one batch in April 2025.

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24 material agreements filed in the last 30 days. Browse all material agreements →

Cipher Digital Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-070948

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