Notes proceeds to complete Black Pearl Phase 1
Company: Cipher Mining - Project: Black Pearl Facility
The claim, verbatim
Cipher intends to use net proceeds to complete Phase 1 of the Black Pearl data center project, including buying the remaining mining rigs at a discount, paying expected tariffs and shipping, and other Phase 1 infrastructure capex, plus general corporate purposes.
Source (primary)
cipher-mining 8-K exhibit (d876438dex991.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-10-14)Live source ↗
Quote: “Cipher intends to use the net proceeds from the offering to complete Phase 1 of the Black Pearl data center project”
How we checked this
Checked on October 16, 2026. The cited source supports every part of this claim.
The press release lists each of these intended uses of the net proceeds.
Confirmed in the source:
- Cipher intends to use net proceeds to complete Phase 1 of the Black Pearl data center project
- Proceeds will be used to purchase, at a discount, the remaining balance of mining rigs required for Phase 1
- Proceeds will be used to pay expected tariffs and shipping costs for the Phase 1 mining rigs
- Proceeds will be used to pay other Phase 1 infrastructure-related capital expenditures
- Proceeds will also be used for general corporate purposes
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/1819989/000119312525123159/d876438dex991.htm) in full (11,267 characters, retrieved October 14, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms cipher-mining 8-K exhibit (d876438dex991.htm)
Quote: “Cipher intends to use the net proceeds from the offering to complete Phase 1 of the Black Pearl data center project”