Cipher Mining Expands its Capacity in Texas
Cipher Mining Inc. (NASDAQ: CIFR) has recently made headlines by announcing the acquisition of a new site in Texas. This site, named Stingray, spans 250 acres and comes with all necessary regulatory approvals, allowing for an impressive capacity of up to 100 megawatts (MW). The acquisition involved a cash payment of $4.1 million, along with a variable fee structure that will be applicable once the site becomes active.
A Step Towards Enhanced Power Resources
With the anticipated power availability set for the first half of 2026, this new development marks a significant milestone in Cipher Mining's journey. The company has already established itself in the industry as a front-runner in data center hosting and bitcoin mining, and this addition will bolster its capabilities even further. Tyler Page, CEO of Cipher, expressed his enthusiasm for this latest expansion, stating that it aligns perfectly with the company's plans for growth in the coming years.
Strategically Located Data Center
The Stingray site boasts not only its substantial capacity but also its prime location next to vital transmission assets. This strategic positioning will enhance Cipher Mining's operational efficiency and reliability in providing its services. With a meticulous facility extension agreement already in place with ONCOR, Cipher is well-poised for a successful launch.
Cipher’s Growing Pipeline of Developments
This acquisition brings Cipher’s total capacity to 2.6 gigawatts (GW) across 11 active sites. The company is on track to energize additional data centers in 2025 and 2027, which further solidifies its position in the competitive landscape of cryptocurrency data management. With these developments, Cipher Mining is not only enhancing its service offerings but is also making significant strides in the bitcoin mining sector.
About Cipher Mining
Cipher Mining is dedicated to developing and operating large-scale data centers tailored for high-performance computing (HPC) hosting and bitcoin mining operations. The company aims to lead the market in innovation and technology, continually enhancing its infrastructure to provide optimal service to clients. By focusing on strategic expansions such as the Stingray acquisition, Cipher is positioning itself for sustained success in the rapidly evolving tech landscape.
Contact Information
For investor inquiries, Will Iwaschuk serves as Co-President and can be reached at william.iwaschuk@ciphermining.com. For media inquiries, please contact Ryan Dicovitsky or Kendal Till at Dukas Linden Public Relations via CipherMining@DLPR.com.
Frequently Asked Questions
What is the capacity of the new site acquired by Cipher Mining?
The new site, named Stingray, offers a capacity of up to 100 MW.
When is the Stingray site expected to be operational?
The anticipated power availability is expected in the first half of 2026.
What is Cipher Mining's focus in the data center industry?
Cipher Mining focuses on the development and operation of industrial-scale data centers for HPC hosting and bitcoin mining.
How many sites does Cipher Mining currently have?
With the new acquisition, Cipher Mining now operates a total of 11 active sites, amounting to 2.6 GW of capacity.
Who can I contact for more information about Cipher Mining?
For investor inquiries, you can contact Will Iwaschuk at william.iwaschuk@ciphermining.com.
