Crypto stock slips despite $3B AI deal with Google
Cipher Mining (NASDAQ: CIFR) announced a landmark 10-year colocation agreement with AI cloud platform Fluidstack worth roughly $3 billion in contracted revenue.
The agreement will see Cipher deliver 168 megawatts (MW) of critical IT load at its Barber Lake site in Colorado City, Texas by September 2026, with capacity expandable up to 500 MW. Including two optional five-year extensions, the deal could generate up to $7 billion in total revenue. Cipher said the project will operate at an estimated 80% to 85% NOI margin.
“This transformative transaction reinforces our HPC momentum as we continue to attract attention for our large and growing pipeline of sites,” Cipher CEO Tyler Page said.
