Jianan Technology acquires shares of Cipher Mining mining project for $39.75 million

Jianan Technology announced the acquisition of a 49% stake in a joint venture mining project between Alborz LLC, Bear LLC, and Chief Mountain LLC (ABC Projects) under Cipher Mining Technologies for approximately $39.75 million. ABC Projects is located in West Texas, USA, with a power capacity of 120MW and supporting approximately 4.4 EH/s computing power. Jianan Technology completed the payment by issuing 806439900 shares of Class A common stock (equivalent to 53762660 American depositary shares, with a lock up period of six months).