Black Pearl Bitcoin Mining Energization
Company: Cipher Mining - Project: Black Pearl Facility
What the later record shows
Delivered late · happened September 30, 2025
Black Pearl reached 150 MW of mining capacity by September 2025, not the June 2025 target.
“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
Company plans to energize 150 MW of bitcoin mining at Black Pearl data center in June 2025
Source (primary)
Cipher Mining 424B5 filed 2025-05-22 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “one 300 MW data center at which we plan to energize 150 MW of bitcoin mining in June 2025”
How we checked this
Checked on October 11, 2026. The cited source supports part of this claim, but not all of it.
The filing mentions a planned 150 MW June 2025 energization at an unnamed 300 MW site. It separately says Phase 1 of Black Pearl is to be energized in June 2025. It never explicitly states that the 150 MW site is Black Pearl.
Confirmed in the source:
- The company plans to energize 150 MW of bitcoin mining in June 2025 at one 300 MW data center in Texas
- The company aims to energize Phase 1 of its Black Pearl data center in June 2025
We could not confirm this from the cited source:
- The 150 MW of bitcoin mining planned for June 2025 is at the Black Pearl data center
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/1819989/000119312525124285/d920705d424b5.htm) in full (435,499 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Cipher Mining 424B5 filed 2025-05-22
Quote: “one 300 MW data center at which we plan to energize 150 MW of bitcoin mining in June 2025”
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.”