Milestone February 1, 2026 Cipher Black Pearl

Bitcoin mining stops at Black Pearl as the site is retrofitted for its AI tenant

"In February 2026 bitcoin mining operations ceased at the Black Pearl Facility," Cipher's annual report states, and the company warns it "will not earn revenue at this site until the site's lease to an HPC tenant commences." By the Q1 2026 report Cipher described itself as operating one bitcoin mining data center (Odessa) with Black Pearl in retrofit and phased delivery to the tenant expected during 2026.

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