Cipher Mining, a crypto mining company, has recently purchased 16,700 new mining devices in order to become "one of the industry winners" of the upcoming Bitcoin halving, which is scheduled for April this year.
Cipher expects the Avalon A1466 miners to be installed at its Bear and Chief Mountain facilities in Texas in the second quarter of the year.
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The company's total self-mining capacity is expected to amount to 8.4 exahashes per second (EH/s).
Cipher plans to install half of these miners at the Bear facility and half at the Chief facility, representing a 30-megawatt expansion.
According to Cipher Mining CEO Tyler Page, the new purchase has been timed to coincide with Bitcoin halving, which usually coincides with an increase in the price of the crypto.