Collateral posting to Oncor Electric Delivery Company
Company: Cipher Mining - Project: Black Pearl Facility
What the later record shows
Delivered on time · happened December 31, 2023
The 2024 10-K security deposit table shows a $6,269 thousand Oncor deposit for Black Pearl as of December 31, 2023, which is about $6.3 million posted by the promised date.
“Oncor Facility Extension security deposit related to Black Pearl Facility 6,269 6,269”
2025-02-24 · Cipher Mining 10-K filed 2025-02-25 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
Expected to deliver up to $6.3 million as collateral to Oncor Electric Delivery Company by end of December 2023, contingent on Black Pearl transaction closing, with return dependent on energizing 135 MW by May 15, 2026
Source (primary)
Cipher Mining 424B5 filed 2023-11-08 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “If the closing date under the Purchase and Sale Agreement occurs before the end of December 2023, we expect to deliver to Oncor Electric Delivery Company LLC ("Oncor") up to $6.3 million as collateral that Oncor will be obligated to return to us provided that we energize 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 every part of this claim.
The filing states that if the Black Pearl purchase closed before the end of December 2023, Cipher expected to post up to $6.3 million with Oncor. The collateral is returnable if Cipher energizes 135 MW by May 15, 2026.
Confirmed in the source:
- Cipher expected to deliver up to $6.3 million as collateral to Oncor Electric Delivery Company LLC
- The collateral delivery was contingent on the Black Pearl purchase closing before the end of December 2023
- Oncor is obligated to return the collateral provided Cipher energizes at least 135 MW at the Black Pearl Facility by May 15, 2026
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1819989/000119312523273313/d556672d424b5.htm) in full (157,109 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Cipher Mining 424B5 filed 2023-11-08
Quote: “If the closing date under the Purchase and Sale Agreement occurs before the end of December 2023, we expect to deliver to Oncor Electric Delivery Company LLC ("Oncor") up to $6.3 million as collateral that Oncor will be obligated to return to us provided that we energize at least 135MW at the Black Pearl Facility by May 15, 2026”
confirms Cipher Mining 10-K filed 2025-02-25
Quote: “Oncor Facility Extension security deposit related to Black Pearl Facility 6,269 6,269”