Black Pearl energization commitment
Company: Cipher Mining - Project: Black Pearl Facility
What the later record shows
Delivered on time · happened September 30, 2025
Black Pearl reached 150 MW of capacity by September 2025, above the 135 MW required by May 15, 2026.
“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 ↗
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
Committed to energize at least 135 MW at Black Pearl Facility by May 15, 2026
Source (primary)
Cipher Mining 8-K filed 2023-11-08 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “provided that the Company energizes at least 135MW at the Black Pearl Facility by May 15, 2026”
How we checked this
Checked on October 11, 2026. The cited source supports part of this claim, but not all of it.
The filing names the 135 MW and May 15, 2026 milestone only as the trigger for refunding the Oncor collateral. It does not say Cipher committed to reach that milestone.
Confirmed in the source:
- Energizing at least 135 MW at the Black Pearl Facility by May 15, 2026 is the condition for Oncor to return Cipher Mining's collateral
We could not confirm this from the cited source:
- That Cipher Mining committed to energize at least 135 MW at Black Pearl by May 15, 2026; the filing presents this only as the condition for getting the collateral back, not as an obligation
That does not mean it is false — only that this source does not establish it, as of the date above. If we find a source that settles it, we will re-check and update this page.
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1819989/000095017023060676/cifr-20231108.htm) in full (9,266 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Cipher Mining 8-K filed 2023-11-08
Quote: “provided that the Company energizes at least 135MW at the Black Pearl Facility by May 15, 2026”
confirms Cipher Mining 10-K filed 2026-02-24
Quote: “We commenced mining bitcoin at the Black Pearl data center in June 2025 and ramped up to 150 MW of capacity by September 2025.”