Cipher To Purchase Mining Rigs From Bitfury

Bitcoin mining company Cipher Mining Inc CIFR agreed to make monthly purchases from Bitfury Top HoldCo B.V. between June and December 2022.
Cipher Mining will purchase 4,000 - 8,000 Bitfury next-generation mining rigs that will each produce 195 TH/s of hashing power and consume 6.3KWh - 6.5KWh of electrical power.
The mining rigs will likely produce a hash rate of 5.4 EH/s - 10.9 EH/s.
The agreement provides a maximum purchase price of $6,250 per machine (or $32.05/TH).
The agreement brings the aggregate hash rate of mining rigs under contract to ~13.8 EH/s - 19.2 EH/s.
Cipher has a right of first refusal to purchase specific equipment from Bitfury under a seven-year Master Supply and Services Agreement between Bitfury and Cipher dated August 26.
"With these key purchase agreements in place, we look forward to meeting our goal of expanding and strengthening Bitcoin's critical network infrastructure," Cipher CEO Tyler Page said.
Price Action: CIFR shares traded lower by 1.22% at $6.06 on the last check Tuesday.