Google got a 5.4% stake with Bitcoin Mining Company Cipher Mining as part of a $ 3 billion multi-year data center deal with the artificial intelligence data center that FluidsTack company.
According to a Thursday announcementGoogle will receive its stake on Cipher Mining in exchange for guiding $ 1.4 billion of fluidstack obligations to Cipher’s contract. It plays a part in a larger $ 3 billion fluidstack deal with the cipher to hire computing strength for 10 years.
The news follows another, similar deal between Google and FluidsTack. In late August, Internet Search Behemoth became Bitcoin’s largest shareholder (Btc) miner Terawulf’s Obtaining 14% of the company in exchange for guarantees obligations in a separate fluidstack deal.
The deal will find the cipher delivering 168 megawatts of computing power to the fluidstack, supported by a maximum of 244 MW of gross capacity, at the site of the barber lake in Colorado City, Texas. The site is capable of reaching a total capacity of 500 megawatts and contains 587 hectares of surrounding land.
Related: The $ 3.5B Shift: How Bitcoin’s miners are cashing in AI
Dealing is strengthening the mining crossover
Google will backstop the $ 1.4 billion of obligations to renting cipher’s fluidstack. In return, the giant Internet will receive warrants to obtain approximately 24 million shares of Cipher Common stock, equivalent to approximately 5.4% pro forma equity owner of stake.
Cipher CEO Tyler Page said the deal reinforces the company’s high-performance computing momentum (HPC). “We believe that this transaction represents the first in the wilderness in the HPC space as we continue to measure our capabilities and strengthen our position in this rapidly growing sector,” he said.
Deal emphasizes a greater trend of Crypto mining companies move to artificial intelligence Computing. Earlier this week, Cleanspark announced a $ 100 million financing round Slightly marked for AI infrastructure, sending its stock 5% to after trading time.
Related: Hive Digital accelerates AI Pivot with a $ 100m HPC expansion – Cointelegraph exclusively
A review in mid -September from Miner Mag has revealed that bitcoin mining stocks expanded their recovery, exceeding Bitcoin. The trend is partially explained by Investors rewarding miners pursuing GPU and AI pivots.
Other miners, including Hive Digital, also expanded GPU and AI services. In mid -August, the company Reported Record Revenue and Earnings in Fiscal First Quarter.
Magazine: AI can already use more power than Bitcoin – and it threatens Bitcoin mining
