This week, Cipher Mining Inc. revealed that it has acquired a sprawling 250-acre property in West Texas, which includes a 300-megawatt (MW) data center. The company also highlighted that this location is ideal for high-performance computing (HPC) services.
Cipher Mining Boosts Bitcoin Data Center Portfolio With 300 MW Texas Site Purchase
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Cipher Mining Grows to 2.5 GW Portfolio
In its announcement, Cipher (Nasdaq: CIFR) shared that it invested $67.5 million to secure this West Texas site. The acquisition deal includes a variable fee agreement set at $3 per megawatt-hour (MWh) for the first five years after the site becomes operational. The facility already boasts a high-to-mid voltage substation and has received all the necessary regulatory approvals for Cipher to start engaging in the ERCOT market.
“We are thrilled to add another high-quality site to our growing portfolio,” remarked Tyler Page, Cipher’s CEO. “Large-scale data center opportunities that are immediately available and have an existing high-quality substation are particularly rare and desirable in today’s market.”
With this new addition, Cipher’s data center portfolio now exceeds 2.5 gigawatts (GW) across 10 locations. The company expects to finalize the transaction in September, contingent on the completion of due diligence for the site. On Thursday, Cipher’s shares saw an 8.4% rise, although the company’s stock has dipped more than 31% over the past month. However, looking at the six-month performance, Cipher’s stock is up by 27.6%.
What do you think about Cipher Mining’s latest acquisition? Share your thoughts and opinions about this subject in the comments section below.
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