Bitcoin miners brace for impact as halving goes live [CNBC]
Cipher Mining Inc. (CIFR)
Company Research
Source: CNBC
It was May 2023, bitcoin was trading at around $21,000, U.S. regulators were in the thick of cracking down on the sector writ large, and Core Scientific , the company he had agreed to take over, was battling angry lenders in a Texas bankruptcy court over tens of millions of dollars in outstanding debt. But Sullivan knew that, with a lifeline, he could get the business to a much better place. That's because the halving was on the way, and with it would likely come a big rally in bitcoin. Late Friday night, the bitcoin code automatically cut new issuance of the world's largest cryptocurrency in half. It happens roughly every four years, and in addition to helping to stave off inflation, it historically precedes a major run-up in the price of bitcoin. The technical event is relatively simple: Bitcoin miners get paid in bitcoin to validate transactions, and after 210,000 blocks of transactions are computed and added to the main chain, the reward given to the miners securing bitcoin
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CIFR
Earnings
- 11/8/23 - Beat
CIFR
Sec Filings
- 4/10/24 - Form DEFA14A
- 3/19/24 - Form DEFA14A
- 3/19/24 - Form DEF
- CIFR's page on the SEC website