Cipher Mining Surpasses Hashrate Growth Forecasts at Black Pearl and Announces June 2025 Operational Update
Cipher Mining (NASDAQ:CIFR) has exceeded its Q2 2025 hashrate guidance at Black Pearl, achieving 3.4 EH/s of self-mining capacity versus the projected 2.5 EH/s. The company's total self-mining hashrate has reached 16.8 EH/s, with plans to scale to 23.1 EH/s upon completion.
In its June 2025 operational update, Cipher mined 160 BTC, sold 58 BTC, and maintained a balance of 1,063 BTC. The company strategically managed power consumption through its 4CP avoidance strategy, helping maintain low operational costs. With 104,000 deployed mining rigs and a fleet efficiency of 20.8 J/TH, Cipher continues to optimize its mining operations while expanding capacity.
Cipher Mining (NASDAQ:CIFR) ha superato le previsioni di hashrate per il secondo trimestre 2025 presso Black Pearl, raggiungendo una capacità di auto-mining di 3,4 EH/s rispetto ai 2,5 EH/s previsti. Il tasso totale di auto-mining dell'azienda ha raggiunto 16,8 EH/s, con l'obiettivo di arrivare a 23,1 EH/s una volta completato l'espansione.
Nel suo aggiornamento operativo di giugno 2025, Cipher ha minato 160 BTC, venduto 58 BTC e mantenuto un saldo di 1.063 BTC. L'azienda ha gestito strategicamente il consumo energetico tramite la strategia di evitamento 4CP, contribuendo a mantenere bassi i costi operativi. Con 104.000 mining rig attivi e un'efficienza della flotta di 20,8 J/TH, Cipher continua a ottimizzare le operazioni di mining mentre amplia la capacità.
Cipher Mining (NASDAQ:CIFR) ha superado su guía de tasa de hash para el segundo trimestre de 2025 en Black Pearl, alcanzando una capacidad de auto-minería de 3.4 EH/s frente a los 2.5 EH/s proyectados. La tasa total de auto-minería de la compañía ha llegado a 16.8 EH/s, con planes de escalar a 23.1 EH/s una vez finalizada la expansión.
En su actualización operativa de junio de 2025, Cipher minó 160 BTC, vendió 58 BTC y mantuvo un saldo de 1,063 BTC. La empresa gestionó estratégicamente el consumo de energía mediante su estrategia de evitación 4CP, ayudando a mantener bajos los costos operativos. Con 104,000 equipos de minería desplegados y una eficiencia de flota de 20.8 J/TH, Cipher continúa optimizando sus operaciones de minería mientras expande su capacidad.
Cipher Mining (NASDAQ:CIFR)은(는) 2025년 2분기 Black Pearl에서의 해시레이트 가이던스를 초과하여 예상치 2.5 EH/s 대비 3.4 EH/s의 자체 채굴 용량을 달성했습니다. 회사의 총 자체 채굴 해시레이트는 16.8 EH/s에 도달했으며, 완공 시 23.1 EH/s로 확장할 계획입니다.
2025년 6월 운영 업데이트에서 Cipher는 160 BTC를 채굴하고 58 BTC를 판매했으며, 1,063 BTC의 잔고를 유지했습니다. 회사는 4CP 회피 전략을 통해 전력 소비를 전략적으로 관리하여 운영 비용을 낮게 유지하는 데 기여했습니다. 104,000대의 채굴 장비가 배치되어 있고, 선단 효율은 20.8 J/TH로 Cipher는 채굴 운영을 최적화하면서 용량을 확장하고 있습니다.
Cipher Mining (NASDAQ:CIFR) a dépassé ses prévisions de taux de hachage pour le deuxième trimestre 2025 à Black Pearl, atteignant une capacité d'auto-minage de 3,4 EH/s contre les 2,5 EH/s projetés. Le taux de hachage total d'auto-minage de la société a atteint 16,8 EH/s, avec des plans pour atteindre 23,1 EH/s une fois l'expansion terminée.
Dans sa mise à jour opérationnelle de juin 2025, Cipher a miné 160 BTC, vendu 58 BTC et maintenu un solde de 1 063 BTC. L'entreprise a géré stratégiquement sa consommation d'énergie grâce à sa stratégie d'évitement 4CP, contribuant à maintenir des coûts opérationnels bas. Avec 104 000 équipements de minage déployés et une efficacité de flotte de 20,8 J/TH, Cipher continue d'optimiser ses opérations de minage tout en augmentant sa capacité.
Cipher Mining (NASDAQ:CIFR) hat die Hashrate-Prognose für das zweite Quartal 2025 bei Black Pearl übertroffen und eine Eigen-Mining-Kapazität von 3,4 EH/s im Vergleich zu den prognostizierten 2,5 EH/s erreicht. Die gesamte Eigen-Mining-Hashrate des Unternehmens liegt bei 16,8 EH/s, mit Plänen, nach Fertigstellung auf 23,1 EH/s zu skalieren.
Im operativen Update für Juni 2025 hat Cipher 160 BTC gemined, 58 BTC verkauft und einen Bestand von 1.063 BTC gehalten. Das Unternehmen steuerte den Stromverbrauch strategisch durch seine 4CP-Vermeidungsstrategie, um die Betriebskosten niedrig zu halten. Mit 104.000 eingesetzten Mining-Rigs und einer Flotteneffizienz von 20,8 J/TH optimiert Cipher weiterhin seine Mining-Operationen und erweitert gleichzeitig die Kapazität.
- None.
- Reduced bitcoin production due to strategic power curtailment
Insights
Cipher Mining's accelerated hashrate growth at Black Pearl indicates operational outperformance despite strategic power curtailment to optimize profitability.
Cipher Mining has demonstrated exceptional operational execution by delivering ~3.4 EH/s of self-mining capacity at Black Pearl Phase I, substantially exceeding their previous guidance of 2.5 EH/s for Q2 2025. This 36% outperformance signals the company's ability to rapidly scale infrastructure despite industry-wide deployment challenges.
The company's total hashrate has now reached ~16.8 EH/s, positioning them as a significant player in the North American bitcoin mining landscape. Their projected scaling to ~23.1 EH/s upon completion represents a further 37.5% growth from current levels, establishing a clear near-term growth trajectory.
June's production of 160 BTC reflects the strategic decision to implement more aggressive power curtailment as part of their 4CP (Four Coincident Peak) avoidance strategy. This sophisticated power management approach demonstrates financial discipline by sacrificing some immediate production to avoid substantial capacity charges that would impact long-term profitability. Such optimization is particularly valuable given recent bitcoin price volatility.
The company's treasury position of 1,063 BTC (valued at approximately
The fleet efficiency of 20.8 J/TH indicates Cipher is operating with relatively modern equipment, though the gradual replacement of legacy units suggests further efficiency improvements ahead. The phased replacement approach allows for capital-efficient upgrades while maintaining production levels.
Cipher's outperformance in hashrate deployment while simultaneously optimizing power consumption demonstrates a sophisticated operational approach that balances growth with cost management – critical factors for sustainable profitability in the mining sector.
NEW YORK, July 02, 2025 (GLOBE NEWSWIRE) -- Cipher Mining Inc. (NASDAQ:CIFR) (“Cipher” or the “Company”) today announced that Phase I of Black Pearl is now delivering ~3.4 EH/s of self-mining capacity, exceeding the Company’s prior guidance of 2.5 EH/s for the second quarter of 2025. Hashrate will continue to increase at the site through the third quarter of 2025 as new mining rigs continue to be delivered in scheduled batches, gradually replacing legacy units. Cipher’s total self-mining hashrate has now reached ~16.8 EH/s, and the Company maintains its expectations to scale to ~23.1 EH/s upon completion of the installation.
In addition, the Company today released its unaudited production and operations update for June 2025. While the report includes initial contributions from Black Pearl, which started hashing at the end of the month, the production numbers also reflect the Company’s strategic decision to curtail more deliberately as part of its proactive 4CP avoidance strategy. This approach allowed the Company to avoid costly 4CP penalties and maintain its position as having some of the lowest power costs in the industry. Insights from June will inform further refinements to the curtailment model for the remainder of the summer.
Key Highlights
| Key Metrics | June 2025 |
| BTC Mined1 | 160 |
| BTC Sold | 58 |
| BTC Held | 1,063 |
| Deployed Mining Rigs | 104,000 |
| Month End Operating Hashrate (EH/s) | 16.8 |
| Month End Fleet Efficiency (J/TH) | 20.8 |
1 Includes June power sales estimates (based on current meter data and nodal prices) equivalent to ~5 bitcoin (using month-end bitcoin price of
Bitcoin Production and Operations Updates for June 2025
Cipher produced ~1601 BTC in June. As part of its regular treasury management process, Cipher sold ~58 BTC in June, ending the month with a balance of ~1,063 BTC.
Black Pearl Phase I Infrastructure
Black Pearl Phase I Infrastructure
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’ 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
1 Includes June power sales estimates (based on current meter data and nodal prices) equivalent to ~5 bitcoin (using month-end bitcoin price of
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/e617a33f-8d22-4573-adb6-ef975fcc5000
https://www.globenewswire.com/NewsRoom/AttachmentNg/7922fa8e-f1c3-4660-bcbe-2f4cd1efbf08
FAQ
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