32 EH/s cumulative hashrate target by end of 2025
Company: Cipher Mining
What the later record shows
Partly delivered
The Q3 2025 update shows operating hashrate of ~11.3 EH/s (Odessa), ~10.1 EH/s (Black Pearl) and ~4.4 EH/s (JV sites), about 26 EH/s in total. No passage shows the ~32 EH/s target reached.
“477 MW Operating Capacity Including JV Capacity CURRENT OPERATIONS ~16.8 EH/s Q2 2025 ~23.5 EH/s Q3 2025”
2025-08-06 · cipher-mining 8-K exhibit (ciphermining_businessupd.htm) View cached copy (2026-10-08)Live source ↗
“150 MW Total Operating Power Capacity ~13.9 J/TH Fleet Efficiency ~10.1 EH/s Total Operating Hashrate”
2025-11-02 · cipher-mining 8-K exhibit (ciphermining_businessupd.htm) View cached copy (2026-09-27)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 hashrate of approximately 32 EH/s
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 October 12, 2026. The cited source supports every part of this claim.
The 10-K gives the approximately 32 EH/s hashrate potential by end of 2025.
Confirmed in the source:
- Cipher stated it would have the potential to reach a corresponding hashrate of approximately 32 EH/s by the end of 2025
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”