Potential Electrical Power Capacity 2025
Company: Cipher Mining
What the later record shows
Partly delivered
By mid/late 2025 Cipher reported 477 MW of operating capacity including JV capacity: Odessa 207 MW, Black Pearl 150 MW and Alborz/Bear/Chief 120 MW. That is well short of the ~745 MW potential target, and no passage shows 745 MW 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 the end of 2025, Cipher has the potential to reach a cumulative electrical power capacity of approximately 745 megawatts
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 states Cipher's aim that by the end of 2025 it will have the potential to reach about 745MW of cumulative electrical power capacity. This is a forward-looking target, not an achieved result.
Confirmed in the source:
- Cipher states that by the end of 2025 it will 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.”