Cipher Mining (CIFR) announced A new 10-year HPC hosting agreement with FluidStack adds 56 MW of additional capacity at the Barber Lake site in Texas. The deal nets nearly $830 million in contracted revenue in the initial term and extends FluidStack’s lease to the entire 300 MW available at the site.
With two optional five-year extensions, the value of the agreement could rise to nearly $2.0 billion for this expansion and approximately $9.0 billion throughout the broader partnership.
Cipher will deliver 39 MW of additional critical IT load, supported by 56 MW of gross capacity. Google increased the backstop of FluidStack’s lease obligations by $333 million, bringing total support to $1.73 billion. Cipher plans to fund the buildout through project-related debt and about $118 million in additional equity contributions.
The company expects strong financial performance from the Barber Lake site, forecasting a net operating income margin of 85 to 90% and project costs of $9 to $10 million per MW. Cipher said the expansion strengthens its position in high-performance computing and supports GW’s growing 3.2 development pipeline.
Sharing of Cipher Mining is already up more than 10% following strong results and insights from AI-Bellwether Nvidia Wednesday night. This latest news pushed gains to 13%.
