– Cipher Mining reported $44M Q2 revenue and 16.8 EH/s mining capacity, with plans to expand to 23.5 EH/s by Q3 2025.
– The firm raised $172.5M via convertible notes to fund next-gen mining equipment and HPC hybrid infrastructure development.
– Despite $46M GAAP net loss, strategic moves include 2.6GW site capacity and $112M BTC holdings to diversify revenue streams.
– Expansion could increase bitcoin network difficulty, historically linked to short-term BTC price fluctuations.
– Institutional backing highlights confidence in Cipher’s ability to execute large-scale projects and adapt to market demands.
