Cipher Mining Inc. (NASDAQ: CIFR) announced that it has completed a transaction to acquire a new power plant in West Texas called Stingray for a $4.10 million cash payment and a variable fee of $1.50/MWh for the first five years after the plant is powered on. The 250-acre site has been approved and a facility expansion agreement of up to 100 trillion watts has been signed.
Tyler Page, Cipher's chief executive, said: "With the addition of this site, we now have a data center scheduled to come online in 2026, which will complement our other new data centers scheduled to come online in 2025 and 2027." With the addition of this new site, Cipher's active portfolio and development pipeline will total 2.6 GW across 11 sites.
Cipher Mining Announces Acquisition of New Texas Mine, Signs 100 trillion-Watt Facility Expansion Agreement
2024-11-26 22:43:12
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