Cipher Mining splashes $350M on next-gen Bitcoin mining rigs from Bitfury By Cointelegraph

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According to a Form 8-K filing with the United States Securities and Exchange Commission (SEC) on Monday, Cipher Mining will purchase 28,000 to 56,000 next-generation mining hardware from Bitfury at a cost of $6,250 per rig.

At a maximum cost of $6,250 per machine, Cipher’s Bitcoin mining hardware outlay could go between $175 million and $350 million, depending on whether the company elects to receive all 56,000 rigs as stated in the purchase agreement.