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Sep 30, 2024
Cipher Q3 2024 Earnings Report
Reported a net loss of $87 million and an adjusted loss of $3 million in Q3 2024.
Key Takeaways
Cipher Mining reported a net loss of $87 million for Q3 2024, but the adjusted loss was only $3 million. The company completed the acquisition of the Barber Lake and Reveille data center sites and signed option agreements to purchase or lease three additional sites in Texas.
Completed acquisition of the Barber Lake data center site with 300 MW capacity.
Completed acquisition of the Reveille data center site with 70 MW capacity and potential to expand to 200 MW.
Signed options to acquire up to 1.5 GW of new sites in Texas.
Upgrade of Odessa site bringing total self-mining hashrate to ~13.5 EH/s remains on track for Q4 2024.
Cipher
Cipher
Cipher Revenue by Segment
Revenue by Segment
Bitcoin Mining Revenue
CapyFin.com Forward Guidance
Upgrade of Odessa site bringing total self-mining hashrate to ~13.5 EH/s remains on track for Q4 2024 and Construction of the 300 MW data center at Black Pearl progressing well, with expected energization in Q2 2025.
Positive Outlook
- Upgrade of Odessa site bringing total self-mining hashrate to ~13.5 EH/s remains on track for Q4 2024
- Construction of the 300 MW data center at Black Pearl progressing well, with expected energization in Q2 2025