Cipher Mining Surpasses Hashrate Growth Forecasts at Black Pearl and Announces June 2025 Operational Update

Core Insights - Cipher Mining Inc. has successfully exceeded its self-mining capacity guidance for Q2 2025, achieving approximately 3.4 EH/s at the Black Pearl site, with expectations to reach around 23.1 EH/s upon completion of installations [1][2] Production and Operations Update - In June 2025, Cipher mined approximately 160 BTC and sold about 58 BTC, ending the month with a total of approximately 1,063 BTC held [3][4] - The company has deployed 104,000 mining rigs, with a month-end operating hashrate of 16.8 EH/s and fleet efficiency of 20.8 J/TH [3][4] Strategic Decisions - Cipher's proactive 4CP avoidance strategy has allowed the company to maintain low power costs and avoid costly penalties, with insights from June informing further refinements to this model for the summer [2][3]