Domo signs strategic collaboration agreement with AWS for AI solutions
NEW YORK - Cipher Mining Inc. (NASDAQ:CIFR), currently valued at $1.82 billion, announced Wednesday that Phase I of its Black Pearl facility is now delivering approximately 3.4 EH/s of self-mining capacity, exceeding the company’s previous guidance of 2.5 EH/s for the second quarter of 2025. According to InvestingPro data, the stock has shown strong momentum with a 27% return over the past week.
The company’s total self-mining hashrate has reached approximately 16.8 EH/s, with plans to scale to about 23.1 EH/s upon completion of installation, according to a press release statement. Hashrate at the Black Pearl site is expected to continue increasing through the third quarter as new mining rigs replace legacy units. With analysts projecting profitability this year, InvestingPro analysis suggests the stock is currently trading near its Fair Value, with 12 additional exclusive insights available to subscribers.
Cipher also released its unaudited production and operations update for June 2025, reporting approximately 160 bitcoin mined during the month. This figure includes power sales estimates equivalent to about 5 bitcoin and approximately 19 bitcoin mined at joint venture data centers representing Cipher’s ownership.
The company sold about 58 bitcoin in June as part of its treasury management process, ending the month with a balance of approximately 1,063 bitcoin. Operating with a moderate debt level and a current ratio of 1.11, Cipher maintains a stable financial position despite the volatile nature of cryptocurrency mining. Investors can access the complete financial health analysis and detailed metrics through the comprehensive Pro Research Report, available exclusively on InvestingPro.
June production numbers reflect Cipher’s strategic decision to implement more deliberate curtailment as part of its 4CP (Four Coincident Peak) avoidance strategy, which the company states allowed it to avoid costly penalties while maintaining low power costs.
As of the end of June, Cipher had 104,000 deployed mining rigs with a month-end operating hashrate of 16.8 EH/s and a fleet efficiency of 20.8 J/TH.
Cipher Mining focuses on developing and operating industrial-scale data centers for bitcoin mining and high-performance computing hosting.
In other recent news, Cipher Mining Inc. has begun operations at its Black Pearl bitcoin mining facility, generating approximately 2.5 EH/s of hashrate. The company anticipates increasing this capacity to about 9.6 EH/s as new mining rigs are installed through the third quarter of 2025. Additionally, Cipher Mining announced plans to offer $150 million in convertible senior notes due in 2030, with Morgan Stanley as the sole bookrunning manager. The proceeds will fund Phase 1 of the Black Pearl data center project, including the purchase of mining rigs and other infrastructure expenses. At its recent Annual Meeting of Stockholders, Cipher Mining elected two directors and ratified the appointment of CBIZ CPAs P.C. as the independent registered public accounting firm for 2025. Cantor Fitzgerald raised the stock price target for Cipher Mining to $6, maintaining an Overweight rating due to the company’s growth prospects and low power costs. Cipher’s operating hashrate reached 13.5 EH/s by the end of May, with further increases expected as new rigs are deployed. The company ended May with a holding of 2,966 bitcoins, reflecting its ongoing expansion in mining operations.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.