$2.0B secured debt for Black Pearl Compute
Company: Cipher Mining - Project: Black Pearl Facility
The claim, verbatim
Cipher obtained $2.0 billion in secured debt financing issued by Black Pearl Compute LLC to fund construction of the 300 MW HPC data center.
Source (primary)
cipher-mining 8-K exhibit (dp240991_ex9901.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-09-20)Live source ↗
Quote: “New Financing : $2.0Bn secured debt issued by Black Pearl Compute LLC, a wholly - owned indirect subsidiary of Cipher Mining”
How we checked this
Checked on September 24, 2026. The cited source supports part of this claim, but not all of it.
The presentation describes the $2.0 billion secured debt, its issuer and its use for building the 300 MW Black Pearl data center. It does not confirm the financing had actually been completed.
Confirmed in the source:
- $2.0 billion of secured debt issued by Black Pearl Compute LLC
- Black Pearl Compute LLC is a wholly-owned indirect subsidiary of Cipher Mining
- Proceeds are to fund construction of the 300 MW HPC data center at Black Pearl
We could not confirm this from the cited source:
- That Cipher had already obtained (closed) the $2.0 billion financing; the document is a February 2026 investor presentation describing the financing and projecting the draw, not a confirmation that it closed
That does not mean it is false — only that this source does not establish it, as of the date above. If we find a source that settles it, we will re-check and update this page.
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/1819989/000095010326001480/dp240991_ex9901.htm) in full (20,147 characters, retrieved September 20, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms cipher-mining 8-K exhibit (dp240991_ex9901.htm)
Quote: “New Financing : $2.0Bn secured debt issued by Black Pearl Compute LLC, a wholly - owned indirect subsidiary of Cipher Mining”