Site Overview
• We currently operate or hold joint venture interests in five industrial-scale data centers dedicated to bitcoin mining, and are expanding to support both bitcoin mining and high-performance computing (HPC) across our 2.6 GW development pipeline.Currently Energized Sites
Development Pipeline Sites
Black Pearl
- Operating Hashrate: ~3.4 EH/s
- Phase I Power Capacity: 150 MW
- Total Power Capacity: 300 MW
- Acres: 70 Acres
- Location: Wink, Texas
Alborz
- Operating Hashrate: ~1.6 EH/s
- Cipher Hashrate: ~0.8 EH/s
- Power Capacity: 40 MW
- Acres: 7 Acres
- Location: Andrews, Texas
Barber Lake

Energization Timeline:
- Phase I: Energized
- Expected Phase II: 2029
Power Capacity:
- Phase I: 300 MW
- Expected Phase II: 500 MW
Acres:
- Phase I: 587 acres
- Expected Phase II: 285 acres
Location: Colorado City, Texas
Odessa
- Operating Hashrate: ~11.3 EH/s
- Power Capacity: 207 MW
- Acres: 52 Acres
- Location: Odessa, Texas
Stingray

- Energization Timeline: Q3 2026
- Power Capacity: 100 MW
- Acres: 250 Acres
- Location: Andrews, Texas
Reveille

- Energization Timeline: Q2 2027
- Power Capacity: 70 MW
- Acres: 55 Acres
- Location: Cotulla, Texas
Mikeska

- Energization Timeline: Est. 2028
- Expected Power Capacity: 500 MW
- Acres: 100 Acres
- Location: Doole, Texas
Milsing

- Energization Timeline: Est. 2028
- Expected Power Capacity: 500 MW
- Acres: 187 Acres
- Location: Singleton, Texas
McLennan

- Energization Timeline: Est. 2028
- Expected Power Capacity: 500 MW
- Acres: 319 Acres
- Location: Riesel, Texas
Bear

- Total JV Hashrate: ~1.6 EH/s
- Cipher Hashrate: ~0.8 EH/s
- Power Capacity: 40 MW
- Acres: 7 Acres
- Location: Andrews, Texas
Chief

- Total JV Hashrate: ~1.6 EH/s
- Cipher Hashrate: ~0.8 EH/s
- Power Capacity: 40 MW
- Acres: 6 Acres
- Location: Andrews, Texas