The U.S.-based mining company Cipher Mining is evaluating an acquisition offer: initial stages of negotiations.
According to Bloomberg, the U.S.-based mining company Cipher Mining Inc. is reportedly evaluating an acquisition offer with advisors. The assessments are in the initial stages and it’s uncertain whether Cipher Mining will decide to proceed with the sale.
The company has a market capitalization of approximately $2.2 billion. The company’s shares surged to $8 following the acquisition news, then returned to $6.56.
In December, Cipher acquired 37,000 T21 Antminers for $99.5 million, and in January, purchased 16,700 Avalon A1466 miners. With these acquisitions, the company aims to achieve a hash rate of 8.4 EH/s.
In June, Cipher produced 176 bitcoins, a 6% increase from the 166 bitcoins in May. It sold 103 bitcoins and ended the month with a balance of 2,209 bitcoins.
