Cipher Mining Inc. (NASDAQ: CIFR) shares surged 8.98% in pre-market trading on Wednesday, July 2, 2025, reaching $5.34 following Hashrate exceeds guidance, reaching 3.4 EH/s of self-mining capacity. This marks a significant jump from the previous closing price of $4.90 recorded on the prior trading day.
Cipher Mining Inc. (CIFR) announced that Phase I of Black Pearl is now delivering approximately 3.4 EH/s of self-mining capacity. This exceeds the company’s prior guidance of 2.5 EH/s for the second quarter of 2025.
Cipher Mining Inc. will continue to increase hashrate at the site through the third quarter of 2025 as new mining rigs are delivered in scheduled batches, gradually replacing legacy units. The total self-mining hashrate of the company has now reached approximately 16.8 EH/s.
In addition, Cipher Mining Inc. released its unaudited production and operations update for June 2025.
