Cipher Mining, a Nasdaq-listed mining company, has announced plans to expand its Bear LLC and Chief Mountain LLC projects via the purchase of Canaan-crafted application-specific integrated circuit (ASIC) bitcoin mining machines.
The company aims to procure 16,700 advanced Avalon A1466 miners, with expected delivery by Q2 2024.
This acquisition is designed to boost miner computation power, with an addition of 2.5 exahash per second (EH/s), enhancing Cipher Mining's capabilities in its crypto mining operations.