745MW electrical capacity and 32 EH/s hashrate by end of 2025
Company: Cipher Mining
What the later record shows
Outcome not yet confirmed
Neither 745 MW nor 32 EH/s was reached by end of 2025; hashrate peaked near 23.6 EH/s. Cipher then pivoted away from bitcoin mining, sold its joint venture sites and decommissioned Black Pearl rigs.
“~23.6 EH/s ~11.6 EH/s Q4 2025 Current Bitcoin Mining Exit Strategy Transition from BTC Mining to HPC • Sale of Joint Venture Sites”
2026-02-23 · cipher-mining 8-K exhibit (cipherdigital_businessup.htm) View cached copy (2026-09-13)Live source ↗
“Rebranded from Cipher Mining to Cipher Digital, reflecting the Company's pivot from bitcoin mining to HPC data center development”
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
Potential to reach cumulative electrical power capacity of approximately 745MW and corresponding hashrate of approximately 32 EH/s by the end of 2025
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 filing states both the 745MW capacity and the 32 EH/s hashrate potential by end of 2025.
Confirmed in the source:
- Cipher stated it would have the potential to reach a cumulative electrical power capacity of approximately 745MW by the end of 2025
- Cipher stated the corresponding hashrate potential was 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”