- Cipher Mining (CIFR, Financial) mined 179 BTC in May 2025 and plans significant expansion in hashrate.
- Black Pearl site development nears completion with Phase I set to enhance capacity.
- Cipher holds 966 BTC, with strategic BTC sales and legacy rig relocations underway.
In its May 2025 operational update, Cipher Mining Inc. (CIFR) reported substantial progress in its bitcoin mining activities. The company mined a total of 179 Bitcoin during the month and strategically sold 64 BTC, managing a strong holding of 966 BTC by the end of May.
The firm's operational efficiency was demonstrated by the deployment of 75,000 mining rigs, achieving an operating hashrate of 13.5 EH/s and a fleet efficiency of 18.9 J/TH. These advancements come as Cipher makes significant headway in developing its Black Pearl site, with Phase I construction nearing completion. Legacy rigs from the Odessa site have been successfully relocated and are awaiting energization.
Cipher Mining continues to ramp up its operations with the procurement of additional mining rigs to fully utilize the 150 MW power capacity at Black Pearl Phase I. These new rigs are expected to arrive in early July, poised to elevate the company's hashrate capacity from the current 13.5 EH/s to an estimated 23.1 EH/s.
