Cipher Mining Inks New 10-Year HPC Deal With Fluidstack; Shares Rise 13%

Why It Matters

The deal deepens Cipher’s foothold in the fast‑growing HPC market and provides a long‑term revenue stream, while Google’s expanded backing enhances creditworthiness and may attract further enterprise AI customers.

Summary

Cipher Mining signed a 10‑year high‑performance computing (HPC) hosting agreement with Fluidstack, adding 56 MW of capacity at its Barber Lake, Texas site and bringing Fluidstack’s lease to the full 300 MW. The contract secures roughly $830 million of revenue for the initial term, with two optional five‑year extensions that could lift the deal’s value to about $2 billion and $9 billion across the broader partnership. Google increased its financial backstop for Fluidstack by $333 million, raising its total support to $1.73 billion, while Cipher will fund the build‑out with project debt and $118 million in equity. The announcement pushed Cipher’s shares up another 13% after earlier gains from Nvidia’s earnings beat.