Sale of 49% stake in mining sites and equipment to Canaan Inc.
Company: Cipher Mining
The claim, verbatim
Divested 49% interest in three 40 MW joint venture sites (Alborz, Bear, and Chief) and select bitcoin mining machines deployed at Black Pearl to Canaan Inc. for approximately $40 million in all-stock transaction
Source (primary)
cipher-mining 8-K exhibit (exh991q4fy25_earningsprxvf.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-09-13)Live source ↗
Quote: “Cipher sold its 49% interest in the three 40 MW joint venture sites, Alborz, Bear, and Chief, as well as select bitcoin mining machines previously deployed at Black Pearl. These non-core assets were acquired by Canaan Inc., a vertically integrated innovator in crypto mining, for approximately $40 million in an all-stock transaction.”
How we checked this
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Additional evidence
confirms cipher-mining 8-K exhibit (exh991q4fy25_earningsprxvf.htm)
Quote: “Cipher sold its 49% interest in the three 40 MW joint venture sites, Alborz, Bear, and Chief, as well as select bitcoin mining machines previously deployed at Black Pearl. These non-core assets were acquired by Canaan Inc., a vertically integrated innovator in crypto mining, for approximately $40 million in an all-stock transaction.”