Cipher Mining, a crypto mining firm backed by the digital asset management firm Galaxy Digital, has announced the launch of a 37,000-antminer BTC mining operation, which is worth approximately $100 million. According to the announcement, the mining facility has already started operations and will be used to mine Bitcoin. The mining operation is expected to produce more than 35 PH/s of hash rate and features state-of-the-art energy efficient tech and cooling systems. The facility is also equipped with a series of Bitmain and Sepcoin mining rigs. Cipher Mining CEO James Heckerman commented that “this recent investment allows us to expand our operations as the leading North American Bitcoin mining operator and further our mission of making mining more accessible. We are grateful to all of our partners who have made this monumental undertaking possible and look forward to making an even bigger impact on the community.” The mining operation is backed by a number of venture capital firms, and is part of the ongoing effort by the mining sector to increase its efficiency and scale its operations.
Cipher Scales BTC Mining Operation with 37,000 Bitmain Antminers Worth $100M
