Bitcoin Miner CIFR Adds to Nvidia-Led Gains After New HPC Deal

Cipher Mining (CIFR) has signed a new 10-year HPC hosting agreement with Fluidstack, which adds 56 MW of capacity at its Barber Lake site in Texas. This deal is projected to bring in about $830 million in contracted revenue over its initial term, expanding Fluidstack's lease to the full 300 MW available. The partnership may grow to a total value of roughly $9 billion with two optional five-year extensions. Google has increased its financial backing of Fluidstack’s lease obligations to $1.73 billion. Cipher also anticipates a strong net operating income margin of 85-90% from the Barber Lake site, with project costs estimated at $9 to $10 million per MW. The announcement follows a notable rise in CIFR shares, increasing by 13% amid a favorable earnings report from Nvidia, underlining Cipher's strengthening position in high-performance computing and a significant development pipeline.

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