News
Cipher Mining updates capacity expansion plans with new infrastructure deal
Tuesday, December 23, 2025 at 07:19 PM
Cipher Mining has entered into a new deal related to its future infrastructure capacity expansion.
Context
Cipher Mining has significantly bolstered its expansion strategy with the acquisition of a 200 MW data center site in Ohio, known as Ulysses. This transaction marks the company’s first major footprint outside of Texas and includes 195 acres of land with secured power capacity from AEP Ohio. The facility is specifically designed for high-performance computing (HPC) and AI workloads, with a target energization date set for Q4 2027.
This acquisition increases the total development pipeline for Cipher Mining to 3.4 GW across eight sites. The move aligns with the company's aggressive pivot toward the AI supply chain, supported by a massive $3 billion hosting agreement with Fluidstack. That deal is notably backstopped by Google, which recently took a 5.4% equity stake in the company. Investors are closely watching these infrastructure milestones as a bridge between traditional crypto mining and the high-margin demand for generative AI compute power.
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