Cipher Mining, an American bitcoin mining firm, is determined to increase its overall hash rate capacity to more than 7.2 EH/s. To achieve this goal, the company recently acquired 11,000 cutting-edge A1346 model machines from Canaan, a prominent Chinese manufacturer specializing in mining equipment.
According to a press release from Cipher Mining, the recent acquisition has bolstered the company’s machine fleet to exceed 70,000 mining rigs.
Cipher CEO Tyler Page expressed his enthusiasm for commencing the partnership with Canaan. In a statement, he stated, “We are thrilled to officially initiate our collaboration with Canaan.”
Page revealed that Cipher’s technology and operations teams have dedicated several months to collaborating with Canaan in order to thoroughly test their latest generation mining machines.
Expressing confidence in the partnership, he stated, “We firmly believe that Canaan’s mining machines will make a remarkable contribution to our fleet, particularly during the scorching summer months in Texas, where we anticipate outstanding performance.”
The A1346 model from Canaan belongs to the recently introduced Avalon Made A13 series, which was unveiled in October 2022. With a hash rate of 110 TH/s and a power efficiency of 30J/TH, it presents a compelling alternative to the widely sought-after Whatsminer and Antminer ASICs.
Cipher expects the delivery and activation of the new machines during the third quarter of this year, marking the final stage of the expansion project at their facility in Odessa, Texas. “By accomplishing this, we will further solidify our position as a prominent bitcoin miner.” stated a spokesperson from Cipher.
Cipher announced in its Q1 2023 update that the company has exceeded its initial target by achieving a self-mining capacity of over 6.0 EH/s, surpassing the projected hash rate of 5.7 EH/s set for March.
