Odaily Planet Daily News According to the Q2 financial report of Bitcoin mining company Cipher Mining (stock code: CIFR), the net loss for the quarter was US$15 million, slightly higher than the net loss of US$13.2 million in the same period last year. Despite the increasing losses, the company's revenue, cash on hand and electricity supply are also increasing year by year. The company's Q2 revenue rose to US$36.81 million from US$31.22 million in the same period last year, and the cost of revenue fell from US$15.87 million to US$14.28 million. The company holds US$122.56 million in cash and cash equivalents, a significant increase from US$86.11 million at the end of 2023, mainly due to the issuance of US$163.28 million worth of common stock. Cipher also reported that the company currently has a hash rate of about 8.7 EH/s, with a goal of reaching 13.5 EH/s by the end of 2024 and 35.0 EH/s by the end of 2025, after signing an agreement to exercise options to acquire three new energy sites with a cumulative power capacity of 1.5 gigawatts (GW). (The Block)