Cipher Mining, a leading cryptocurrency mining operation, has announced the launch of a new mining facility with an initial investment of $100 million USD. The Bitmain-powered facility will include 37,000 Antminers operating with a total hashrate of 4.5 exahash/second (EH/s).
The facility is located in the U.S. and is expected to provide Cipher Mining with the capacity to mine the equivalent of 60 Bitcoin (BTC) per month. The investment is expected to further strengthen Cipher Mining’s position as one of the world’s largest BTC miners.
The 37K Antminers are set to be deployed in three phases: 6,000, 13,000, and 18,000 units. In addition, the facility will include an energy-efficient cooling system to optimize energy usage and consequently reduce power costs.
The new mining farm is the latest addition to Cipher Mining’s portfolio, which also includes a mine in Saskatchewan, Canada and a partnership with Phinero Holding. In total, Cipher Mining’s facilities have a total hashrate of over 6 EH/s, which is considerable.
Moreover, Cipher Mining emphasizes that the security of its mining operations is paramount. As such, the new Bitmain-powered facility will include a wealth of security measures to protect the miners and the mined BTC.
By leveraging its considerable hashrate, Cipher Mining is positioned to benefit from the upward surge in BTC’s price. Furthermore, Cipher Mining is said to have taken steps to ensure that its miners are not vulnerable to a 51% attack, a critical security risk when a single entity controls more than half of the hashing power.