Planned MW and hashrate deployment for 2025
Company: Cipher Mining
What the later record shows
Delivered on time · happened September 30, 2025
The additional ~150 MW (Black Pearl Phase I) was energized on schedule in Q2 2025, giving 477 MW of operating capacity including JV. Q3 2025 site hashrates sum to about 25.8 EH/s, above 25.2 EH/s.
“Phase I – 150 MW – Construction and energization completed on schedule in Q2 2025”
2025-08-06 · cipher-mining 8-K exhibit (ciphermining_businessupd.htm) View cached copy (2026-10-08)Live source ↗
“477 MW Operating Capacity Including JV Capacity CURRENT OPERATIONS ~16.8 EH/s Q2 2025”
2025-08-06 · cipher-mining 8-K exhibit (ciphermining_businessupd.htm) View cached copy (2026-10-08)Live source ↗
“~17.6 J/TH Fleet Efficiency ~11.3 EH/s Total Operating Hashrate $25,414 Q3 2025 All-In Electricity Cost per BTC(2) 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 October 10, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
Plan to deploy an additional approximately 150 MW for total of approximately 477 MW electrical capacity by end of 2025, with corresponding hashrate of at least approximately 25.2 EH/s
Source (primary)
Cipher Mining 10-K filed 2025-02-25 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “we plan to deploy an additional approximately 150 MW for a total of approximately 477 MW of electrical capacity by the end of 2025, and a corresponding hashrate of at least approximately 25.2 EH/s”
How we checked this
Checked on October 11, 2026. The cited source supports every part of this claim.
The 10-K states the planned additional 150 MW, the 477 MW end-2025 total, and the corresponding hashrate of at least approximately 25.2 EH/s.
Confirmed in the source:
- Cipher plans to deploy an additional approximately 150 MW of electrical capacity
- Cipher plans a total of approximately 477 MW of electrical capacity by the end of 2025
- Cipher expects a corresponding hashrate of at least approximately 25.2 EH/s
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1819989/000181998925000005/cifr-20241231.htm) in full (492,885 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Cipher Mining 10-K filed 2025-02-25
Quote: “we plan to deploy an additional approximately 150 MW for a total of approximately 477 MW of electrical capacity by the end of 2025, and a corresponding hashrate of at least approximately 25.2 EH/s”
confirms cipher-mining 8-K exhibit (ciphermining_businessupd.htm)
Quote: “~17.6 J/TH Fleet Efficiency ~11.3 EH/s Total Operating Hashrate $25,414 Q3 2025 All-In Electricity Cost per BTC(2) 150 MW Total Operating Power Capacity ~13.9 J/TH Fleet Efficiency ~10.1 EH/s Total Operating Hashrate”
confirms cipher-mining 8-K exhibit (ciphermining_businessupd.htm)
Quote: “Phase I – 150 MW – Construction and energization completed on schedule in Q2 2025”