Cipher Mining Commences Bitcoin Mining at Black Pearl Data Center
Cipher Mining (NASDAQ: CIFR) has announced the successful energization and commencement of bitcoin mining operations at its Black Pearl data center. The site is currently generating a hashrate of ~2.5 EH/s, with Phase I expected to reach ~9.6 EH/s upon completion.
The company's total hashrate across all sites is currently at ~16 EH/s and is projected to increase to ~23.1 EH/s during Q3 2025. The Black Pearl site, completed in 16 months, represents a significant expansion of Cipher's mining capabilities, with the company now operating five data centers and maintaining a 2.6 GW pipeline for future HPC hosting or bitcoin mining applications.
Cipher Mining (NASDAQ: CIFR) ha annunciato l'avvenuta attivazione e l'inizio delle operazioni di mining di bitcoin presso il suo data center Black Pearl. Attualmente, il sito genera un hashrate di circa 2,5 EH/s, con la Fase I che dovrebbe raggiungere circa 9,6 EH/s al completamento.
Il hashrate totale dell'azienda su tutti i siti è attualmente di circa 16 EH/s e si prevede che aumenterà a circa 23,1 EH/s nel terzo trimestre del 2025. Il sito Black Pearl, completato in 16 mesi, rappresenta un'espansione significativa delle capacità di mining di Cipher, che ora gestisce cinque data center e dispone di una pipeline da 2,6 GW per future applicazioni HPC o mining di bitcoin.
Cipher Mining (NASDAQ: CIFR) ha anunciado la exitosa puesta en marcha y el inicio de las operaciones de minería de bitcoin en su centro de datos Black Pearl. Actualmente, el sitio genera una tasa de hash de aproximadamente 2,5 EH/s, y se espera que la Fase I alcance aproximadamente 9,6 EH/s una vez finalizada.
La tasa de hash total de la empresa en todos sus sitios es actualmente de aproximadamente 16 EH/s y se proyecta que aumente a aproximadamente 23,1 EH/s durante el tercer trimestre de 2025. El sitio Black Pearl, completado en 16 meses, representa una expansión significativa de las capacidades de minería de Cipher, que ahora opera cinco centros de datos y mantiene una línea de proyectos de 2,6 GW para futuras aplicaciones de HPC o minería de bitcoin.
Cipher Mining (NASDAQ: CIFR)는 Black Pearl 데이터 센터에서 비트코인 채굴 작업의 성공적인 가동 및 시작을 발표했습니다. 현재 이 사이트는 약 2.5 EH/s의 해시레이트를 생성하고 있으며, 1단계가 완료되면 약 9.6 EH/s에 도달할 것으로 예상됩니다.
회사의 전체 해시레이트는 모든 사이트에서 현재 약 16 EH/s이며, 2025년 3분기에는 약 23.1 EH/s로 증가할 전망입니다. 16개월 만에 완공된 Black Pearl 사이트는 Cipher의 채굴 능력을 크게 확장한 것으로, 현재 5개의 데이터 센터를 운영하며 향후 HPC 호스팅 또는 비트코인 채굴 용도로 사용할 2.6 GW 파이프라인을 보유하고 있습니다.
Cipher Mining (NASDAQ : CIFR) a annoncé la mise en service réussie et le démarrage des opérations de minage de bitcoins dans son centre de données Black Pearl. Le site génère actuellement un taux de hachage d'environ 2,5 EH/s, avec une Phase I qui devrait atteindre environ 9,6 EH/s une fois terminée.
Le taux de hachage total de l'entreprise sur tous ses sites est actuellement d'environ 16 EH/s et devrait passer à environ 23,1 EH/s au cours du troisième trimestre 2025. Le site Black Pearl, achevé en 16 mois, représente une expansion significative des capacités de minage de Cipher, qui exploite désormais cinq centres de données et dispose d'une pipeline de 2,6 GW pour de futures applications HPC ou de minage de bitcoins.
Cipher Mining (NASDAQ: CIFR) hat die erfolgreiche Inbetriebnahme und den Beginn der Bitcoin-Mining-Operationen in seinem Black Pearl Rechenzentrum bekannt gegeben. Die Anlage erzeugt derzeit eine Hashrate von etwa 2,5 EH/s, wobei Phase I nach Fertigstellung voraussichtlich etwa 9,6 EH/s erreichen wird.
Die Gesamt-Hashrate des Unternehmens über alle Standorte liegt aktuell bei etwa 16 EH/s und soll im dritten Quartal 2025 auf etwa 23,1 EH/s steigen. Der in 16 Monaten fertiggestellte Standort Black Pearl stellt eine bedeutende Erweiterung der Mining-Kapazitäten von Cipher dar. Das Unternehmen betreibt nun fünf Rechenzentren und verfügt über eine 2,6 GW Pipeline für zukünftige HPC-Hosting- oder Bitcoin-Mining-Anwendungen.
- Early completion of Black Pearl data center ahead of schedule
- Significant hashrate expansion from 16 EH/s to 23.1 EH/s expected in Q3 2025
- Large 2.6 GW pipeline for future growth opportunities
- Position as one of the industry's lowest-cost bitcoin producers
- Successful development of Black Pearl in just 16 months
- Gradual replacement of legacy mining units required
- Substantial power consumption of 300 MW at Black Pearl site
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 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 (“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 / Kendal Till
Dukas Linden Public Relations
CipherMining@DLPR.com
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/c5c5f8c4-e8eb-40bb-a27e-6e6807da5e3a
https://www.globenewswire.com/NewsRoom/AttachmentNg/9b8bd673-375b-4ed8-8db8-944c373fb32a
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