2025 expected fleet efficiency
Company: Cipher Mining
What the later record shows
Delivered on time · happened June 30, 2025
Cipher reported self-mining fleet efficiency of ~20.8 J/TH for Q2 2025, better than the ~22.0 J/TH expected for 2025. The passage does not confirm each listed driver, such as the full T21 purchase option.
“~20.8 J/TH Q2 2025 SELF-MINING FLEET EFFICIENCY ~16.8 J/TH Q3 2025”
2025-08-06 · cipher-mining 8-K exhibit (ciphermining_businessupd.htm) View cached copy (2026-10-08)Live source ↗
Checked November 6, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
Cipher expected its fleet efficiency to improve from about 29.0 J/TH for the current operating fleet to about 22.0 J/TH in 2025, reflecting energization of contracted rigs and hardware, software implementation, and energization of the full Bitmain T21 purchase option.
Source (primary)
cipher-mining 8-K exhibit (cifr-ex99_2.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-11-06)Live source ↗
Quote: “Current Operating Fleet Efficiency 2025 Expected Fleet Efficiency(2) 96% ~29.0 J/TH ~22.0 J/TH”
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 (cifr-ex99_2.htm)
Quote: “Current Operating Fleet Efficiency 2025 Expected Fleet Efficiency(2) 96% ~29.0 J/TH ~22.0 J/TH”
confirms cipher-mining 8-K exhibit (ciphermining_businessupd.htm)
Quote: “~20.8 J/TH Q2 2025 SELF-MINING FLEET EFFICIENCY ~16.8 J/TH Q3 2025”