Cipher Mining ups 2024 hash rate target to 13.5 EH/s, upgrades Bitmain contract, adds Canaan miners

Cipher Digital Inc.

Entered agreement to buy 6,600 Canaan A1566 miners (~1.25 EH/s) for $16.4M, delivering 4Q24.
Amended Bitmain contract: upgraded 30,364 miners to S21 Pro, delivery accelerated from 2Q25 to 4Q24.
New 2024 year-end self-mining hash rate target of ~13.5 EH/s with fleet efficiency of ~18.6 J/TH.
New 2025 year-end target of ~35 EH/s with ~15 J/TH efficiency; option for additional 160 MW Canaan miners.
CEO says purchases fully funded; upgrades less efficient rigs at Odessa site.

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