Cipher Mining is expected to file Form 8K with the United States Securities and Exchange Commission. BuyBitfury offers next-generation mining hardware in the range of 28,000-56,000 at $6,250 per unit.

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.