Cipher Mining to buy up to 56K Bitfury next generation mining rigs

Bitcoin miner Cipher Mining (NASDAQ:CIFR) agrees with Bitfury Top HoldCo to make monthly purchases between June and December 2022 of 4K-8K Bitfury next generation mining rigs that will each produce ~195 TH/s of hashing power. The company will pay a purchase price of $6,250 per machine, or ~$32.05/TH These mining rigs are expected to be capable of producing a hashrate of ~5.4 EH/s to 10.9 EH/s. Shares of CIFR rise 2.4% in premarket trading on Tuesday. The purchase agreement is executed under the framework of the seven-year Master Supply and Services Agreement dated as of Aug. 26, 2021, which gives Cipher (CIFR) the right to refuse to buy certain equipment from Bitfury. This allows for Cipher (CIFR) to diversify its purchases among different mining rig manufacturers. Since the company became public through a special purpose acquisition company in August, it has entered into purchase contracts for mining rigs from three different manufacturers