The site
The site from above
Power
Power and the grid
The plan on record is a grid connection. An interconnection study is under way.
We checked utility filings, regulator dockets and air-permit records for this campus.
Permits
Permits checklist
5 checked, nothing on file
Approvals a campus like this normally needs, and what we found.
- –Checked, nothing on file: Zoning approval, Site plan, Building permit, Water and wetlands permits, Utility and grid approval
Money
Money on record
$5.5B
Data center lease
300 MW gross capacity (216 MW critical IT) at Black Pearl News report · Nov. 2025
$2.0B
Senior secured notes
$2b senior notes due 2031 to complete the HPC data center News report · Oct. 2026
Timeline
What happened, and what is due
SitePaper trailConstructionPowerPermitsMoneyLegalUpcoming
- Dec. 8, 2023Site Project first appears in the public record
- June 23, 2025Power The site's operating history is bitcoin mining: energized June 2025 with 150 MW Phase I hashing, before the AWS HPC lease converted it. Company · June 2025
Construction activity
Satellite captures by quarter
Since Sept. 2025: 4 satellite captures.
Satellite
’26
Dot size: records in the quarter, largest = 1. Two-digit years mark each first quarter.
Who is involved
Owners, partners and builders
Owners and developers
- Cipher Digital, developer
Customers
- Amazon Web Services, tenant
Investors and lenders
- Black Pearl, financing
Still unknown
Open questions
- Signed electric service agreement and delivery date.
- Whether site work has started.
Where this comes from
26 records from 10 documents
Drawn from news reports, company statements, securities filings and satellite captures, each kept with its date and source. The bar shows documents by type.
News report 4Company 3SEC filing 2Satellite 1
Evidence
Every quote behind this page
Grade key: A = the primary record itself (permit, filing, exhibit) · B = a dated official statement · C = news reporting. Map distances are our own measurements on OpenStreetMap and carry no grade. Allegations in lawsuits are marked as such in the quotes.
Power (6)
- Announced: Dec. 8, 2023“With interconnection up to 300 MW, we expect Black Pearl to become the largest of our sites.”Company · Dec. 2023 · grade A
- Stated campus size: 300 MW“Successfully energizes 300 MW Black Pearl site”Company · June 2025 · grade B
- The site's operating history is bitcoin mining: energized June 2025 with 150 MW Phase I hashing, before the AWS HPC lease converted it. Mining load was never IT capacity.“Commences hashing at 150 MW Black Pearl Phase I”Company · June 2025 · grade B
- interconnection queue (ERCOT): interconnection capacity secured (up to 300 MW at site purchase)“In December 2023 Cipher closed the purchase of the site for Black Pearl, with initial interconnection capacity of up to 300MW”News report · Oct. 2026 · grade C
- IT capacity: 216 MW“Amazon Data Services, Inc. leases 300MW of gross capacity representing 216MW of critical IT load near Wink, Texas”News report · Aug. 2026 · grade C
- Project status: IN SERVICE for IT capacity since August 2026: Cipher began delivering HPC data center capacity at Black Pearl at the beginning of August 2026 under the amended AWS lease and rent has commenced. Before that th“We are proud to have delivered our first HPC data center capacity ahead of schedule and announce that rent has commenced at the site”News report · Aug. 2026 · grade C
Money and contracts (5)
- tenant lease: capacity 300 MW gross“the Company entered into a 15-year lease agreement with an investment grade hyperscaler tenant to deliver approximately 300 gross MW of turnkey data center capacity at the Black Pearl Facility,”SEC filing · Aug. 2026 · grade A
- phase delivery: delivery not stated MW gross (first capacity)“Executed amendment to Black Pearl lease at tenant's request, accelerating first data center capacity delivery by 2 months. First data center capacity was delivered in August, and rent has commenced at the site”SEC filing · Aug. 2026 · grade A
- tenant lease: capacity 300 MW gross (approx. 216-220 MW critical IT)“an approximately $5.5 billion, 15-year lease agreement with Amazon Web Services to provide turnkey space and power for AI workloads”Company · Nov. 2025 · grade B
- senior secured notes (project financing): $2B senior notes due 2031 to complete the HPC data center, also reimbursing ~$232.5M previously advanced by Cipher 2000000000 USD“Black Pearl, a subsidiary of bitcoin miner Cipher Mining, will conduct a private placement of $2bn in senior notes due 2031”News report · Oct. 2026 · grade C
- data center lease: 300 MW gross capacity (216 MW critical IT) at Black Pearl; 15-year term; delivery accelerated by a July 2026 amendment, rent from August 2026 5500000000 USD“Cipher has announced an approximately $5.5 billion, 15-year lease agreement with AWS to provide turnkey space and power for AI workloads”News report · Nov. 2025 · grade C
Site and other (4)
- Campus name: Cipher Black Pearl“today announced the successful energization and commencement of hashing at its Black Pearl site”Company · June 2025 · grade B
- County code: 48495“The issuer will use the proceeds to complete a data centre focused on high-performance computing (HPC) services in Wink, Texas”News report · Oct. 2026 · grade C
- In service date: Aug. 2026“Cipher said it had begun delivering its first HPC data center capacity ahead of schedule”News report · Aug. 2026 · grade C
- Cipher Mining rebranded to Cipher Digital in 2026 as its business pivoted from mining to HPC data centers; Nasdaq ticker CIFR unchanged.“Cipher Digital Inc. (NASDAQ: CIFR) ("Cipher" or the "Company"), a leading developer, owner, and operator of industrial-scale data centers”News report · Aug. 2026 · grade C
Imagery and records: Satellite imagery: Sentinel-2 (ESA Copernicus).