2025 total MW capacity target
Company: Cipher Mining
What the later record shows
Delivered on time · happened June 30, 2025
The August 2025 update reports 477 MW of operating capacity including JV capacity. It also says Black Pearl Phase I (150 MW) construction and energization were completed on schedule in Q2 2025, well before the end-2025 target.
“477 MW Operating Capacity Including JV Capacity CURRENT OPERATIONS ~16.8 EH/s Q2 2025 ~23.5 EH/s Q3 2025 NEAR-TERM HASHRATE GROWTH”
2025-08-06 · cipher-mining 8-K exhibit (ciphermining_businessupd.htm) View cached copy (2026-10-08)Live source ↗
“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 ↗
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
Company plans to deploy additional 150 MW for total of 477 MW electrical capacity by end of 2025
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”
How we checked this
Checked on October 11, 2026. The cited source supports every part of this claim.
The 10-K states Cipher plans to deploy roughly 150 MW more, for a total of about 477 MW, by the end of 2025.
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
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”
confirms cipher-mining 8-K exhibit (ciphermining_businessupd.htm)
Quote: “477 MW Operating Capacity Including JV Capacity CURRENT OPERATIONS ~16.8 EH/s Q2 2025 ~23.5 EH/s Q3 2025 NEAR-TERM HASHRATE GROWTH”