Summary by Moomoo AI
Cipher Mining Inc. reported revenue of $151.3 million for fiscal year 2024, up from $126.8 million in 2023, driven by higher bitcoin prices despite the April 2024 halving event. The company operated a total hashrate capacity of 15.7 EH/s across 327 MW of facilities, with owned capacity of 13.5 EH/s utilizing 266 MW. Net loss increased to $44.6 million from $25.8 million in 2023, primarily due to higher depreciation and operating expenses.The company significantly expanded its operations and development pipeline, which now includes over 3.0 GW of capacity across 11 sites. Cipher completed construction of its 207 MW Odessa Facility and expanded both Bear and Chief facilities from 10 MW to 40 MW each. The company also acquired several new sites including the Barber Lake facility and made strategic investments in next-generation mining...Show More
Comment(0)
Reason For Report