2025 year-end fleet efficiency target
Company: Cipher Mining
What the later record shows
Outcome not yet confirmed
No passage reports a year-end 2025 fleet efficiency. The Black Pearl mining fleet that the target depended on was redeployed, sold or marked for sale, and the remaining Odessa fleet runs at ~17.2 J/TH.
“All Black Pearl bitcoin mining rigs have been redeployed at Odessa, sold or marked for sale as development on HPC data center begins”
2026-02-23 · cipher-mining 8-K exhibit (cipherdigital_businessup.htm) View cached copy (2026-09-13)Live source ↗
“207 MW Total Capacity ~17.2 J/TH Fleet Efficiency ~¢2.8 /kWh Power Cost”
2026-02-23 · cipher-mining 8-K exhibit (cipherdigital_businessup.htm) View cached copy (2026-09-13)Live source ↗
Checked November 3, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
Cipher targets a fleet efficiency of roughly 15 J/TH by year-end 2025.
Source (primary)
cipher-mining 8-K exhibit (d846288dex991.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-11-03)Live source ↗
Quote: “an expansion to 35 EH/s and a fleet efficiency of roughly 15 J/TH in 2025”
How we checked this
This claim has not yet been checked assertion-by-assertion against its source. It carries a cited source and quote, but the deeper check has not run. When it does, the result appears here whatever it says.
Additional evidence
confirms cipher-mining 8-K exhibit (d846288dex991.htm)
Quote: “an expansion to 35 EH/s and a fleet efficiency of roughly 15 J/TH in 2025”