{"id":739755,"date":"2023-03-14T07:10:47","date_gmt":"2023-03-14T11:10:47","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/cipher-mining-provides-fourth-quarter-and-full-year-2022-business-update\/"},"modified":"2023-03-14T07:10:47","modified_gmt":"2023-03-14T11:10:47","slug":"cipher-mining-provides-fourth-quarter-and-full-year-2022-business-update","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cipher-mining-provides-fourth-quarter-and-full-year-2022-business-update\/","title":{"rendered":"Cipher Mining Provides Fourth Quarter and Full Year 2022 Business Update"},"content":{"rendered":"
\n

\n Four Data Centers Operational and Hashing at All-Time High Hash Rate Capacity of ~5.2 EH\/s<\/em>
\n \n <\/p>\n

\n Completion of Initial Build Out at Odessa Data Center Expected by April 2023<\/em>\n <\/p>\n

\n GAAP Diluted Net Loss of $0.16 per Share (Non-GAAP Diluted Net Loss of $0.26 per Share)<\/em>\n <\/p>\n

NEW YORK, March 14, 2023 (GLOBE NEWSWIRE) — Cipher Mining Inc.<\/u><\/a>(NASDAQ: CIFR)<\/strong> (\u201cCipher\u201d or the \u201cCompany\u201d), a leading developer and operator of bitcoin mining data centers, today announced results for its fourth quarter and full year ended December 31, 2022, with an update on its operations and deployment strategy.<\/p>\n

\u201cWe are pleased to announce financial results that demonstrate our resilient position as a low-cost producer of bitcoin, while we continue our steady march toward the completion of our initial data centers,\u201d said Tyler Page, CEO of Cipher. \u201cAs always, our focus is on prudent growth through the cycle, which we can accomplish given the strength of our balance sheet and the significant ramp up at our Odessa facility. As we complete our initial build out at Odessa, we will increase our focus on the tremendous organic growth opportunities we have across our sites, as well as continue to refine our pipeline of potential new projects and new opportunities to drive shareholder value.\u201d<\/p>\n

Ed Farrell, CFO of Cipher Mining, said, \u201cWe commenced producing revenues in the fourth quarter of 2022 with the energization of our Odessa data center. With the ramp up of Odessa in 2023, we look forward to providing the market with greater detail on our operations, which we believe will illuminate our best-in-class unit economics.\u201d<\/p>\n

\n Finance and Operations Updates<\/strong>\n <\/p>\n