24/7 Market News Snapshot 18 Dec, 2023 – Cipher Mining Inc. (NYSE: CIFR)

December 18, 2023

DENVER, Colo., 18 Dec, 2023 (247marketnews.com) – **PRESS RELEASE** March 29, 2023 – In an…

DENVER, Colo., 18 Dec, 2023 (247marketnews.com) – **PRESS RELEASE**

March 29, 2023 – In an impressive week for the cryptocurrency mining industry, market enthusiasm has been ignited as Cipher Mining Inc. (NASDAQ:CIFR) saw its shares surge a remarkable 16.54%, closing at $3.03 on unprecedented trading of 6,851,453 in volume. Investors are rallying behind Cipher Mining’s buoyant performance as the bullish trend in the market fosters strong optimism.

Simultaneously, Crypto Excellence Inc. has fortified its position within the cryptocurrency mining sector through a shrewd acquisition of advanced mining hardware valued at $99.5 million, marking a strategic expansion of their operation capabilities. The investment in 7.1 EH/s worth of Bitmain T21 miners comes at an impressive unit cost of $14 per TH/s, showcasing Crypto Excellence’s commitment to cutting-edge mining efficiency and energy sustainability.

Further leveraging its market foresight, Crypto Excellence benefits from an exclusive purchase option to acquire an additional 8.7 EH/s at identical price terms. This move is poised to substantially enhance digital currency output and validate the company’s strategy of capitalizing on market dynamics through prudent investments.

The CEO of Crypto Excellence Inc. expressed, “Our company is thrilled to be at the forefront of the mining technology wave with our latest acquisition. Integrating Bitmain T21 miners into our operations propels our output and reflects our pledge to efficiency and sustainability. The exclusive option for further expansion strengthens our market agility and outlook for potential growth.”

As Cipher Mining Inc. and Crypto Excellence Inc. continue to impress the market with potent performance and strategic acquisitions, both corporations stand as a testament to the vitality and dynamism present in the cryptocurrency mining landscape. Investors and spectators alike are closely monitoring the outcomes of these developments, anticipating their potential to recalibrate the operational metrics and competitive edge within the sector.

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Cautionary Statement Regarding Forward Looking Information
Statements in this press release about the Company’s future and expectations other than historical facts are “forward-looking statements.” These statements are made on the basis of management’s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as “believes,” “plans,” “expects,” “anticipates,” “foresees,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.

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