745MW cumulative power capacity target by end of 2025
Company: Cipher Mining
What the later record shows
The date slipped
Operating capacity was about 477 MW in 2025, not 745 MW. By the 2025 year-end proxy, Cipher operated only 207 MW from one bitcoin mining data center; further capacity is contracted HPC still under construction.
“477 MW Operating Capacity Including JV Capacity CURRENT OPERATIONS”
2025-08-06 · cipher-mining 8-K exhibit (ciphermining_businessupd.htm) View cached copy (2026-10-08)Live source ↗
“Operation of 207 MW of power from one bitcoin mining data center and maintenance of 4.2 GW of capacity across ten data centers”
2026-04-19 · Cipher Mining DEF 14A filed 2026-04-20 View cached copy (2026-08-31)Live source ↗
Checked November 10, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
By end of 2025, potential to reach cumulative electrical power capacity of approximately 745MW
Source (primary)
Cipher Mining 10-K filed 2022-03-04 (SEC EDGAR, sec_filing)
View cached copy (2026-09-27)Live source ↗
Quote: “by the end of 2025, we will have the potential to reach a cumulative electrical power capacity of approximately 745MW and corresponding hashrate of approximately 32 EH/s”
How we checked this
Checked on November 11, 2026. The cited source supports every part of this claim.
The 10-K states the 745MW figure and the end-of-2025 date, and presents it as a potential outcome, as the claim does.
Confirmed in the source:
- Cipher stated that by the end of 2025 it would have the potential to reach a cumulative electrical power capacity of approximately 745MW
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1819989/000095017022002861/cifr-20211231.htm) in full (509,143 characters, retrieved September 27, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Cipher Mining 10-K filed 2022-03-04
Quote: “by the end of 2025, we will have the potential to reach a cumulative electrical power capacity of approximately 745MW and corresponding hashrate of approximately 32 EH/s”
delays Cipher Mining DEF 14A filed 2026-04-20
Quote: “Operation of 207 MW of power from one bitcoin mining data center and maintenance of 4.2 GW of capacity across ten data centers”
delays cipher-mining 8-K exhibit (ciphermining_businessupd.htm)
Quote: “477 MW Operating Capacity Including JV Capacity CURRENT OPERATIONS”