Cipher Mining Inc. announces a 10-year high-performance computing colocation agreement with Fluidstack.
The agreement secures approximately $830 million in contracted revenue over the initial 10-year term.
Expected delivery of an additional 39 MW of critical IT load at Barber Lake by January 2027.
Total contracted revenue across the partnership reaches approximately $3.8 billion over the initial 10-year term.
Contracted Revenue
Approximately $830 million in revenue over the initial 10-year term, with potential to reach $2.0 billion if extension options are exercised.
Google's Backstop
Google backs an additional $333 million of Fluidstack's obligations, increasing the total backstop to $1.73 billion.
Capacity Expansion
Cipher will deliver 39 MW of critical IT load and lease the entire 300 MW of capacity at Barber Lake site to Fluidstack.
Partnership Value
Expected total contract value of approximately $9.0 billion if all extension options are exercised.
Financial Commitment
Cipher commits financing for project-related debt and plans to use proceeds for construction of facilities for expansion.
- The agreement signifies substantial revenue generation for Cipher Mining Inc. over the next decade.
- Expansion of critical IT load capacity highlights the company's commitment to infrastructure development.
- Google's increased backstop reinforces confidence in the partnership and supports project-related debt.
- The growing pipeline of projects positions Cipher as a key player in the high-performance computing sector.
The colocation agreement with Fluidstack and the support from Google mark significant milestones for Cipher Mining Inc., showcasing its leadership in HPC development and growth strategy.