Cipher Mining Inc. has provided an update on their bitcoin mining and operations for April 2024. The network hashed roughly 296 BTC in April, and the minimum average monthly network hash rate has increased by more than 4.8%.
The most recent upgrade occurred a month after Bitcoin’s halving, which reduced the miner’s reward by half. Tyler Page, Cipher’s CEO, notes that the company will benefit substantially from its current position while being one of the low-cost producers during the post-halving phase.
To begin, Cipher said that it did not trade any mined Bitcoin units in April, leaving its Bitcoin collection at 2,033 at the conclusion of the month. As a result, the company’s mining operation basically serves as a Bitcoin inventory. Furthermore, investors can hear more about Cipher’s business and future goals during the company’s Q1 2024 earnings call, which is set for May 7.
