Google Backs Cipher Mining’s $3B AI Hosting Deal With Warrants

Cipher Mining signed a 10-year contract with Fluidstack to provide 168 megawatts of computing power at its Barber Lake ￰0￱ agreement guarantees $3 billion in revenue with two five-year extensions that could lift total commitments above $7 ￰1￱ will backstop $1.4 billion of Fluidstack’s lease obligations providing financing ￰2￱ exchange it will receive warrants to acquire 24 million Cipher shares

about 5.4% of the company on a pro forma ￰3￱ retains full ownership of its Barber Lake ￰4￱ deal highlights a shift among ￰5￱ miners toward high-performance ￰6￱ has identified a pipeline of 2.4 gigawatts for future AI and HPC ￰7￱ arrangements have been struck with Core Scientific Iris Energy and TeraWulf which announced a Google-backed colocation deal in August.