Cipher Mining, WindHQ joint venture secures $46.9M loan from BlockFi

Alborz, a joint venture between bitcoin miner Cipher (CIFR) and renewable energy firm WindHQ, received a two-year $46.9 million secured credit facility from crypto lender BlockFi Lending to buy crypto mining rigs, according to a press release. Proceeds will be used to buy Bitmain S19J Pro mining rigs for Alborz’s 40 megawatt (MW) data center in Texas that is powered by a 163MW wind energy source. Once the rigs are delivered, the mining facility will generate approximately 1.3 exahash per second (EH/s) of mining power.