Cipher Mining Inc. (CIFR) secures a 10-year, $830 million AI-hosting deal with Fluidstack, aiming to reach full 300-megawatt capacity in Texas. Google backs the partnership with a $333 million lease guarantee, bringing total support to around $1.73 billion.

Cipher plans to finance site build-out through project debt and $118 million in equity. Construction costs expected to be $9-10 million per megawatt, with projected margins of 85% to 90%. CEO Tyler Page highlights the agreement as a significant move in high-performance computing expansion plans.

Citizens initiates Cipher coverage with a Market Outperform rating and $30 price target. The company’s shift towards high-performance computing in Texas, tapping a 3.8-gigawatt power pipeline, positions it well for growth. Analysts believe Cipher’s buildout plans could establish it as a major data-center operator, potentially justifying a valuation above $90.

On November 13, Cipher completes a private offering of $1.4 billion in senior secured notes due 2030. The move bolsters the company’s balance sheet, enabling financing for the construction of its Barber Lake facility, a high-performance computing data center.

Cipher Mining Inc. (CIFR) operates industrial-scale data centers for Bitcoin mining and high-performance computing, with a focus on sustainable energy use. The company is expanding to offer data center capacity for industries like AI and HPC, aiming to become a major player in the field.

Read more at Yahoo Finance: Is Cipher Mining Inc. (CIFR) One of the Best Cryptocurrency Stocks to Buy for the Long Term?