Cipher Scales BTC Mining Operation with 37,000 Bitmain Antminers Worth $100M

Cipher, a major cryptocurrency mine in Ontario, Canada, has announced the expansion of its mining operations with the purchase of 37,000 Bitmain Antminers, worth an estimated $100 million in total. Cipher revealed the news in a press release issued on June 15.

According to the statement, the company has acquired the Antminer S19 Pro series, a mining rig designed for SHA-256 cryptographic algorithm mining. The number of miners puts Cipher’s total hashrate above 3 exahashes per second (EH/s), making it the largest BTC mining operation in the world.

Cipher noted that it has invested $20 million in state-of-the-art cooling systems to maximize the performance of its Antminers, reducing their operating temperature by up to 50%. The facility has also deployed AI-controlled ventilation and fire suppression systems for optimal safety.

The company boasts a staff of over 100 employees that continuously monitor and maintain the mine’s operations. Additionally, Cipher has signed deals with a number of private investors and retail operators for the sale of mining returns. Cipher plans to continue to expand its operations in the future with the purchase of more Antminers.