According to reports, Bitcoin mining company Cipher Mining announced its operations in January 2023. Cipher Mining produced a total of 343 bitcoins in January, a month-on-month increase of 52.4%. It sold a total of 314 bitcoins and currently holds 424 bitcoins. As of the end of January, the total hash rate of Cipher was 4.3EH/s, a month-on-month increase of 53.6%. Cipher CEO Tyler Page stated that Cipher is still on track to achieve a total hash rate of 6EH/s in the first quarter of 2023.