Cost reimbursement cap at Barber Lake
Company: Cipher Mining - Project: Barber Lake Facility
The claim, verbatim
Cipher will bear the first $359.3 million of costs in excess of the initial budgeted amount, with the tenant reimbursing 50% of any costs above that threshold over the 20-year term
Source (primary)
cipher-mining 8-K exhibit (barberlakeleaseamendmentpr.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-09-26)Live source ↗
Quote: “the Company will bear the first $359.3 million of costs in excess of the initial budgeted amount under the Barber Lake Lease. The tenant will reimburse the Company over the aggregate twenty-year term for 50% of any such costs above that amount”
How we checked this
Checked on September 28, 2026. The cited source supports every part of this claim.
The press release describes a cost reimbursement framework in which Cipher bears the first $359.3 million of overruns. The tenant then reimburses 50% of any costs beyond that over the twenty-year term.
Confirmed in the source:
- Cipher will bear the first $359.3 million of costs in excess of the initial budgeted amount under the Barber Lake Lease
- The tenant will reimburse Cipher for 50% of costs above that amount
- The reimbursement is paid over the aggregate twenty-year term
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/1819989/000181998926000043/barberlakeleaseamendmentpr.htm) in full (8,716 characters, retrieved September 26, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms cipher-mining 8-K exhibit (barberlakeleaseamendmentpr.htm)
Quote: “the Company will bear the first $359.3 million of costs in excess of the initial budgeted amount under the Barber Lake Lease. The tenant will reimburse the Company over the aggregate twenty-year term for 50% of any such costs above that amount”