Cipher Mining Clocks $3M In FY22 Revenue Backed By Production At Odessa Data Center

March 14, 2023 8:09 AM | 1 min read | Make a Comment

Cipher Mining Inc CIFR reported revenue of $3.04 million in FY22.
The operating loss was $(37.4) million. Adjusted EPS loss was $(0.26).
Cipher Mining held $11.9 million in cash and equivalents.
Ed Farrell, CFO of Cipher Mining, said, "We commenced producing revenues in the fourth quarter of 2022 with the energization of our Odessa data center."
Across four initial data centers, Cipher remains on track to deploy up to ~5.7 EH/s by the end of Q1 2023, with a highly efficient machine fleet, averaging ~31.4 J/TH, purchased at an average price of ~$30.53/TH/s.
The weighted average power price at the company's current sites is ~2.7 c/kWh.
Cipher Mining mined ~515 and ~377 bitcoin in FY22 and Q4, respectively.
Price Action: CIFR shares traded higher by 3.3% at $1.88 in premarket on the last check Tuesday.