Cipher Mining, one of the largest bitcoin miners, is preparing to sell $ 250 million worth of shares.
Bitcoin miners have been struggling for several months due to both the fall in the price of bitcoin and the rise in electricity prices.
In light of these challenges, some cryptocurrency miners are looking for a new source of finance. One of the mining companies, Iris Energy, agreed with B. Riley to sell shares for $100 million last week.
Cipher Mining has hired HC Wainwright to handle the $250 million share sale.