CIFR - Cipher Mining generates 21% more bitcoins M/M in May
2023-06-01 16:58:46 ET
Cipher Mining Inc. ( NASDAQ: CIFR ) said Thursday it mined 493 bitcoins ( BTC-USD ) in May, up from the 406 produced in the prior month.
The company now has over 5 exahashes per second (EH/s) of self-mining operations at its Odessa facility and about 1 EH/s of self-mining operations across its other three site, said CEO Tyler Page, ending the month with an operating hash rate of 6.0 EH/s.
"This record production reflects not only the first full month of our operations with 6 EH/s of capacity but also the sharp increase in transaction fees that we saw during the month," he explained. "While that level of transaction fees may not be sustainable in the near term, it is an important reminder of the many different long-term opportunities that exist for adoption and growth of the Bitcoin network.”
During the month, Cipher ( CIFR ) sold 513 bitcoins ( BTC-USD ), more than the 406 sold in April.
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Cipher Mining generates 21% more bitcoins M/M in May