Cipher Mining Announces July 2025 Operational Update

Rhea-AI Summary

Cipher Mining (NASDAQ:CIFR) released its July 2025 operational update, highlighting significant mining achievements. The company mined 214 Bitcoin during the month, with Black Pearl Phase I contributing 24% of total production. The company's month-end statistics show 115,000 deployed mining rigs with a hashrate of 20.4 EH/s and fleet efficiency of 19.2 J/TH.

As part of treasury management, Cipher sold 52 BTC and maintained a balance of 1,219 BTC. The company's Black Pearl Phase I, representing 150 MW of a 300 MW site, is now energized and operational.

Positive

• Black Pearl Phase I now operational, contributing 24% of total Bitcoin production
• Substantial mining capacity with 115,000 deployed rigs
• Strong Bitcoin holdings of 1,219 BTC
• Significant hashrate of 20.4 EH/s

Negative

• Sold 52 BTC from treasury, reducing holdings

Insights

Cryptocurrency Mining Analyst

Cipher Mining shows solid July production with Black Pearl site boosting capacity to 20.4 EH/s while building significant Bitcoin reserves.

Cipher Mining's July operational update reveals significant progress in the company's expansion strategy, with 214 Bitcoin mined during the month, bringing their total holdings to 1,219 BTC (valued at approximately $141 million at month-end prices). The company strategically sold just 52 BTC, continuing their approach of building substantial crypto reserves while maintaining operational liquidity.

The most notable development is Black Pearl Phase I becoming operational, now accounting for 24% of Cipher's monthly production despite not yet reaching full capacity. This first 150 MW stage of their eventual 300 MW site represents a crucial milestone in Cipher's infrastructure scaling. With 115,000 mining rigs now deployed and a hashrate of 20.4 EH/s, Cipher has established itself as a significant player in the Bitcoin mining ecosystem.

The company's fleet efficiency of 19.2 J/TH is particularly noteworthy, indicating deployment of current-generation mining hardware that optimizes power consumption relative to computing output. This efficiency metric is vital for maintaining profitability through Bitcoin price fluctuations and difficulty increases. The company's diversified approach - including power sales equivalent to approximately 6 BTC - demonstrates operational flexibility to maximize revenue beyond direct mining.

As Black Pearl continues ramping up, Cipher is positioned to significantly increase its production capacity in coming months, potentially strengthening their market position ahead of Bitcoin's next halving event.

NEW YORK, Aug. 05, 2025 (GLOBE NEWSWIRE) -- Cipher Mining Inc. (NASDAQ:CIFR) (“Cipher” or the “Company”) today released its unaudited production and operations update for July 2025.

Key Highlights

Key Metrics	July 2025
BTC Mined1	214
BTC Sold	52
BTC Held	1,219
Deployed Mining Rigs	115,000
Month End Operating Hashrate (EH/s)	20.4
Month End Fleet Efficiency (J/TH)	19.2
1 Includes July power sales estimates (based on current meter data and nodal prices) equivalent to ~6 bitcoin (using month-end bitcoin price of $115,637) and ~21 BTC mined at JV data centers representing Cipher’s ownership.

Management Commentary for July

Black Pearl Phase I began contributing meaningfully to production this month, accounting for approximately 24% of Cipher’s total bitcoin mined in July. The Company expects Black Pearl’s contribution to increase in the coming months as Phase I continues to scale. Looking ahead, Cipher’s earnings call is scheduled for Thursday, August 7th at 8:00 a.m. Eastern Time, at which point the Company will share a business update. The live webcast and a webcast replay of the conference call can be accessed from the investor relations section of Cipher’s website at https://investors.ciphermining.com. To access this conference call by telephone, register here to receive dial-in numbers and a unique PIN to join the call.

Bitcoin Production and Operations Updates for July 2025

Cipher produced ~214¹ BTC in July. As part of its regular treasury management process, Cipher sold ~52 BTC in July, ending the month with a balance of ~1,219 BTC.

Black Pearl Phase I, the first 150 MW of the 300 MW site, is energized and hashing.

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/.

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¹ Includes July power sales estimates (based on current meter data and nodal prices) equivalent to ~6 bitcoin (using month-end bitcoin price of $115,637) and ~21 BTC mined at JV data centers representing Cipher’s ownership 

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 of historical fact, such as, statements about the Company’s beliefs and expectations regarding its planned business model and strategy, its bitcoin mining and HPC data center development, timing and likelihood of success, capacity, functionality and timing of operation of data centers, expectations regarding the operations of data centers, such as projected hashrate, and management plans and objectives, are forward-looking statements and should be evaluated as such. These forward-looking statements generally are identified by the words “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “seeks,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “strategy,” “future,” “forecasts,” “opportunity,” “predicts,” “potential,” “would,” “will likely result,” “continue,” and similar expressions (including the negative versions of such words or expressions).

These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Cipher and its management, are inherently uncertain. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: volatility in the price of Cipher’s securities due to a variety of factors, including changes in the competitive and regulated industry in which Cipher operates, Cipher’s evolving business model and strategy and efforts it may make to modify aspects of its business model or engage in various strategic initiatives, variations in performance across competitors, changes in laws and regulations affecting Cipher’s business, and the ability to implement business plans, forecasts, and other expectations and to identify and realize additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Cipher’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 filed with the Securities and Exchange Commission (“SEC”) on February 25, 2025, and in Cipher’s subsequent filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Cipher assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

Website Disclosure

The company maintains a dedicated investor website at https://investors.ciphermining.com/  (“Investors’ Website”). Financial and other important information regarding the Company is routinely posted on and accessible through the Investors Website. Cipher uses its Investors’ Website as a distribution channel of material information about the Company, including through press releases, investor presentations, reports and notices of upcoming events. Cipher intends to utilize its Investors’ Website as a channel of distribution to reach public investors and as a means of disclosing material non-public information for complying with disclosure obligations under Regulation FD. In addition, you may sign up to automatically receive email alerts and other information about the Company by visiting the “Email Alerts” option under the Investors Resources section of Cipher’s Investors’ Website and submitting your email address.

Contacts:
Investor Contact:
Courtney Knight
Head of Investor Relations at Cipher Mining
courtney.knight@ciphermining.com

Media Contact:
Ryan Dicovitsky
Dukas Linden Public Relations
CipherMining@DLPR.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1e532b22-994f-4379-9058-116c7d26d064

FAQ

How many Bitcoin did Cipher Mining (CIFR) produce in July 2025?

Cipher Mining produced 214 Bitcoin in July 2025, including power sales estimates equivalent to ~6 bitcoin and ~21 BTC mined at JV data centers.

What is Cipher Mining's (CIFR) current operational capacity as of July 2025?

Cipher Mining operates 115,000 deployed mining rigs with a month-end hashrate of 20.4 EH/s and fleet efficiency of 19.2 J/TH.

How much Bitcoin does Cipher Mining (CIFR) hold in its treasury?

As of July 2025, Cipher Mining holds 1,219 Bitcoin in its treasury, after selling 52 BTC during the month.

What is the status of Cipher Mining's Black Pearl facility?

Black Pearl Phase I, representing 150 MW of the 300 MW site, is now energized and operational, contributing 24% of Cipher's total bitcoin production in July 2025.

When is Cipher Mining's (CIFR) next earnings call?

Cipher Mining's earnings call is scheduled for Thursday, August 7th at 8:00 a.m. Eastern Time.