Business
Cipher Mining Commences Bitcoin Mining at Black Pearl Data Center
Successfully energizes 300 MW Black Pearl site Commences hashing at 150 MW Black Pearl Phase I Total Cipher hashrate currently at ~16 EH/s and expected to
About this update from Cipher Digital Inc.
[{"type":"text","content":"Successfully energizes 300 MW Black Pearl site Commences hashing at 150 MW Black Pearl Phase I Total Cipher hashrate currently at ~16 EH/s and expected to increase to ~23.1 EH/s during the third quarter NEW YORK, June 23, 2025 (GLOBE NEWSWIRE) -- Cipher Mining Inc. (NASDAQ: CIFR) (“Cipher” or the “Company”), a leader in the development of industrial-scale data centers, today announced the successful energization and commencement of hashing at its Black Pearl site. Hashrate currently generated at the site is ~2.5 EH/s and will continue to grow through the third quarter of 2025 as new mining rigs are delivered in scheduled batches, gradually replacing legacy units. Upon completion of this installation, Phase I is expected to reach a hashrate of ~9.6 EH/s, bringing Cipher’s total self-mining hashrate across all sites to ~23.1 EH/s. “We’re proud to be mining bitcoin ahead of schedule at Black Pearl, following the safe and efficient delivery of a best-in-class data center in just 16 months,” said Tyler Page, CEO. “As we continue to expand our mining footprint, the disciplined operations that underpin our positioning as one of the industry’s lowest-cost producers of bitcoin will remain a key advantage.” Cipher now operates five data centers dedicated to bitcoin mining, with a pipeline of 2.6 GW expected to be used for HPC hosting or bitcoin mining applications. Mining rigs energized and hashing at Black Pearl Fully developed Phase I infrastructure at Black Pearl About Cipher Cipher is focused on the development and operation of industrial-scale data centers for bitcoin mining and HPC hosting. Cipher aims to be a market leader in innovation, including in bitcoin mining growth, data center construction and as a hosting partner to the world's largest HPC companies. To learn more about Cipher, please visit https://www.ciphermining.com/. Forward-Looking Statements This press release contains certain forward-looking statements within the meaning of the federal securities laws of the United States. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Any statements made in this press release that are not statements o...