Cipher Mining Shares Drop 17% After Drop in March Bitcoin Production
By Chris Wack
Cipher Mining shares were down 17% after the company mined fewer bitcoin in March, compared with February.
The stock hit its 52-week high of $5.75 Thursday, and is up 76% in the past 12 months.
The bitcoin mining company said it mined 316 bitcoin in March, compared with the 334 it mined in February.
In March, Cipher Mining sold eight bitcoin, held 1,741 bitcoin, and had a month-end operating hash rate of 7.6 EH per second. In February, the company sold 33 bitcoin, had 1,433 bitcoin at the end of the month, and had a month-end operating hash rate of 7.4 EH per second.
The company said it had significant curtailment from its power provider at Odessa for plant maintenance in March.
Bitcoin was trading at $65,837 per unit at 10:30 a.m. ET, down 5% in the past day but up 134% in the past 12 months.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
April 02, 2024 10:54 ET (14:54 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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