Cipher Mining Inks New 10-Year HPC Deal With Fluidstack; Shares Rise 13%
Cipher Mining secured an $830 million, 10-year HPC hosting deal with Fluidstack, adding 56 MW capacity at Barber Lake, causing its shares to jump 13%.Summary
Cipher Mining (CIFR) announced a new 10-year High-Performance Computing (HPC) hosting agreement with Fluidstack, which adds 56 MW of capacity at its Barber Lake site in Texas. This deal secures approximately $830 million in contracted revenue over the initial term, with potential to grow to $2.0 billion with extensions, and up to $9.0 billion across the broader partnership. Cipher will supply 39 MW of critical IT load, supported by the gross capacity. Google increased its financial backing for Fluidstack’s lease obligations by $333 million, bringing its total support to $1.73 billion. Cipher plans to finance the buildout using project debt and about $118 million in new equity. The company anticipates strong financial returns from the site, forecasting an 85% to 90% net operating income margin. Following this announcement, which strengthens Cipher's position in HPC and supports its 3.2 GW development pipeline, its shares rose by 13%, building on earlier gains from positive Nvidia results.
(Source：CoinDesk)