Cipher Mining has purchased 7.1 exahash per second (EH/s) of new mining equipment from Bitmain in a $99.5 million deal.
Aimed at strengthening its bitcoin mining capabilities, the investment is part of the company's strategic plan.
The acquisition of Bitmain’s T21 series miners is expected to help Cipher improve efficiency and performance.
This follows a trend of increased investment in advanced bitcoin mining equipment in recent months.