Black Pearl 300 MW energization
Company: Cipher Mining - Project: Black Pearl Facility
What the later record shows
Partly delivered · happened September 30, 2025
Mining began in June 2025 but reached only 150 MW by September 2025, not the 300 MW promised for Q2 2025. The site then stopped mining in February 2026 to convert to HPC, and no passage confirms the full 300 MW was energized for mining.
“We commenced mining bitcoin at the Black Pearl data center in June 2025 and ramped up to 150 MW of capacity by September 2025.”
2026-02-23 · Cipher Mining 10-K filed 2026-02-24 View cached copy (2026-08-31)Live source ↗
“As a result, in February 2026 bitcoin mining operations ceased at the Black Pearl Facility.”
2026-02-23 · Cipher Mining 10-K filed 2026-02-24 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
Cipher said construction had begun on its 300 MW Black Pearl data center, with energization expected in Q2 2025.
Source (primary)
cipher-mining 8-K exhibit (cifr-ex99_2.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-11-09)Live source ↗
Quote: “300 MW Black Pearl data center construction commenced with expected energization in Q2 2025”
How we checked this
Checked on November 11, 2026. The cited source supports every part of this claim.
The presentation states the 300 MW size, that construction had commenced, and the expected Q2 2025 energization.
Confirmed in the source:
- Cipher said construction had commenced on its Black Pearl data center.
- Cipher described Black Pearl as a 300 MW data center.
- Cipher expected Black Pearl to be energized in Q2 2025.
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/1819989/000095017024025393/cifr-ex99_2.htm) in full (20,368 characters, retrieved November 9, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms cipher-mining 8-K exhibit (cifr-ex99_2.htm)
Quote: “300 MW Black Pearl data center construction commenced with expected energization in Q2 2025”