Black Pearl full rent ramp target
Company: Cipher Mining - Project: Black Pearl Facility
The claim, verbatim
Black Pearl rent expected to fully ramp by first quarter of 2027 upon completion of final subphase
Source (primary)
Cipher Mining 10-K filed 2026-02-24 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “Rent for the lease is expected to fully ramp by the first quarter of 2027 upon completion of the final subphase.”
How we checked this
Checked on September 16, 2026. The cited source supports every part of this claim.
The filing states rent is expected to fully ramp by Q1 2027 upon completion of the final subphase.
Confirmed in the source:
- Rent under the Black Pearl lease is expected to fully ramp by the first quarter of 2027
- The full ramp is expected upon completion of the final subphase
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1819989/000181998926000009/cifr-20251231.htm) in full (477,779 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Cipher Mining 10-K filed 2026-02-24
Quote: “Rent for the lease is expected to fully ramp by the first quarter of 2027 upon completion of the final subphase.”