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The latest update is out from Cipher Mining ( (CIFR) ).
Cipher Mining reported its third-quarter 2024 results, highlighting significant developments in its data center acquisitions and expansion strategy. The company acquired the Barber Lake and Reveille sites, with a combined potential of 500 MW for HPC and bitcoin mining operations. Despite a net loss of $87 million, Cipher continues to enhance its operations, including site upgrades and new site options in Texas, aiming to become a leading data center developer. The company remains optimistic about future growth amid challenging market conditions, focusing on cost-efficient operations.
For a thorough assessment of CIFR stock, go to TipRanks’ Stock Analysis page.
