- Cipher Mining Inc (NASDAQ: CIFR) reported a non-GAAP operating loss of $(8.4) million in the eleven months ended December 31. Non-GAAP EPS loss was $(0.04).
- Cipher used $31.7 million in operating cash flow and held $209.8 million in cash and equivalents.
- Cipher forged a non-binding term sheet with Luminant, a subsidiary of Vistra Corp (NYSE: VST), for a 200 MW future site likely to be connected to a renewable energy source.
- Cipher entered a non-binding letter of intent for a new joint venture with a private investor group for an 80 MW future site.
- Cipher's anticipated weighted average power price is 2.73c/kWh and sees the weighted average cost for mining rigs at $42.81 per terahash.
- "I am pleased to announce that we began Bitcoin mining in February 2022, and we are making excellent progress in our long-term plans to build Cipher into a leading Bitcoin mining enterprise in the United States," said Tyler Page, CEO.
- Price Action: CIFR shares traded higher by 15.2% at $3.04 on the last check Friday.
Read at Benzinga