Cipher Mining Inc. has acquired a 200MW Ulysses site in Ohio, expanding beyond Texas. CEO Tyler Page notes high demand from Hyperscalers for large-scale sites, aligning with HPC growth ambitions. The site, set to start operations in Q4 2027, offers entry into the PJM market, key for AI and HPC demand.

The Ulysses site includes 195 acres with utility agreements in place, set to start operations in Q4 2027. Strategically located in PJM, it provides a bridge of deliverable MWs ahead of larger sites in 2028. The facility is seen as de-risked, with near-term value creation expected from hosting agreements and clear build plans.

Cipher now has a 3.4GW development pipeline across eight sites, including Ulysses. Financial terms were not disclosed, but with a bullish view on bitcoin and site development, analysts maintain a Buy rating and $28 price target. The company focuses on bitcoin mining and HPC hosting operations.

Read more at Yahoo Finance: Cipher Mining (CIFR) Advances AI & HPC Infrastructure With Ulysses Site Buy