Bitmain ASIC miner purchase agreement
Company: Cipher Mining
What the later record shows
Partly delivered
As of the March 2024 10-K, about 1,760 of the S21 miners had been delivered and about $10.9M of the $16.8M had been paid. Shipments were still expected through June 2024, and no later passage confirms full delivery.
“As of the date of this filing, approximately 1,760 of those miners have been delivered to us in Texas, and we have paid approximately $10.9 million of the total $16.8 million due.”
2024-03-04 · Cipher Mining 10-K filed 2024-03-05 View cached copy (2026-08-31)Live source ↗
Checked October 10, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
Purchasing 1.2 EH/s of Antminer S21-200.0T servers from Bitmain Technologies for $24.0 million total commitment ($16.8 million net of coupons), with batched shipments expected January-June 2024 and final payment due one year after last batch delivery
Source (primary)
Cipher Mining 424B5 filed 2023-11-08 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “On October 4, 2023, we entered into an agreement with Bitmain Technologies Delaware Limited to purchase 1.2 EH/s worth of HASH Super Computing Servers (Antminer S21-200.0T model), for a total commitment of $24.0 million to be paid in cash and coupons, or $16.8 million in cash after applying coupons (the "Bitmain Agreement"). We expect the miners purchased under this agreement to be shipped in batches between January and June 2024.”
How we checked this
Checked on October 10, 2026. The cited source supports every part of this claim.
The Recent Developments section states every element of the Bitmain purchase, including the payment timing.
Confirmed in the source:
- Cipher agreed to purchase 1.2 EH/s of Antminer S21-200.0T servers from Bitmain Technologies Delaware Limited
- The total commitment is $24.0 million paid in cash and coupons
- The commitment is $16.8 million in cash after applying coupons
- Miners are expected to ship in batches between January and June 2024
- The final payment is expected one year after delivery of the last batch
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1819989/000119312523273313/d556672d424b5.htm) in full (157,109 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Cipher Mining 424B5 filed 2023-11-08
Quote: “On October 4, 2023, we entered into an agreement with Bitmain Technologies Delaware Limited to purchase 1.2 EH/s worth of HASH Super Computing Servers (Antminer S21-200.0T model), for a total commitment of $24.0 million to be paid in cash and coupons, or $16.8 million in cash after applying coupons (the "Bitmain Agreement"). We expect the miners purchased under this agreement to be shipped in batches between January and June 2024.”