Cipher Mining released an operational update for May 2025, with plans to significantly increase computing power

PANews
PANews
BTC+0.76%

PANews reported on June 5 that Cipher Mining (NASDAQ:CIFR) announced its operating data for May, according to GlobeNewswire. The company produced about 179 bitcoins in total, including about 4 bitcoins equivalent from electricity sales, and about 23 bitcoins from joint venture data centers. The company sold 64 bitcoins in May, and the total number of bitcoins held at the end of the month was 966, of which about 334 were pledged as collateral.

As of the end of May, Cipher Mining had deployed 75,000 mining rigs with an operating hashrate of 13.5 EH/s and a mining efficiency of 18.9 J/TH. The company is moving forward with the construction of the Black Pearl data center in Texas, the first phase of construction is nearing completion, and the old mining rigs from the Odessa upgrade project have been migrated and installed pending power. Cipher Mining has purchased the remaining miners to fill Black Pearl's Phase 1 150 MW power capacity, with new miners expected to arrive and deploy in early July. Once deployed, the Company expects to increase computing power from the current 13.5 EH/s to approximately 23.1 EH/s.

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