Cipher Mining ( NASDAQ: CIFR ) said Tuesday that it has commenced bitcoin ( BTC-USD ) production operations at its Odessa data center in Texas . “Because of our long-term, fixed price power contract at Odessa, we also have an advantage that few other bitcoin miners have -- the flexibility to mine bitcoin or resell our power to the market, which can help mitigate the effects of falling bitcoin prices,” said Tyler Page, CEO of New York-based Cipher Mining. Its Odessa power contract was recorded as an asset valued at ~$78.9M as of September 30. With the addition of Odessa, Cipher ( CIFR ) now operates four data centers with total mining capacity expected to hit 267 megawatts in early 2023. Last week, New York Governor Kathy Hochul signed a two-year moratorium on bitcoin ( BTC-USD ) mining operations that are power by carbon sources, making it the first state to limit BTC production. Cipher ( CIFR ) did not immediately respond to Seeking Alpha's request for comment regarding how that partial ban might impact the company. See how Cipher Mining fared during the third quarter .
U.S CPI Report Today Live Updates
