Wu learned that Cipher Mining, a Nasdaq listed company, announced that its first phase deployment at the Black Pearl site has achieved a self mining computing power of approximately 3.4 EH/s. The total self mining computing power of Cipher has now reached about 16.8 EH/s, with plans to eventually expand to about 23.1 EH/s. In addition, Cipher released approximately 160 bitcoins in June, sold 58, and held 1063 coins at the end of the month.