Cipher Mining to Purchase 28K to 56K Mining Rigs From Bitfury

Cipher Mining to Purchase 28K to 56K Mining Rigs From Bitfury
Cipher Mining Technologies (NASDAQ: CIFR), a newly formed U.S.-based mining operation, has signed an agreement with Bitfury to purchase between 28,000 to 56,000 Bitfury mining rigs at an “attractive price.”According to an 8-K form filed with the U.S. Securities and Exchange Commission (SEC) delivery of the mining rigs is expected to begin in June and continue through Dec. 2022, and will be delivered in seven batches.The agreement between the two firms stipulates a maximum purchase price of $6,250 per machine with an advance payment of $10 million.Each of the mining rigs will produce 195 TH/s of hashing power consuming 6.3KWh…