Cipher Mining Expands Barber Lake HPC Capacity With 10-Year Fluidstack Deal
Cipher Mining (CIFR) has announced a 10-year high-performance computing (HPC) hosting agreement with Fluidstack, adding 56 MW of capacity at its Barber Lake site in Texas. The deal secures around $830 million in revenue over the initial term and expands Fluidstack’s lease to the site’s full 300 MW.
With two optional five-year extensions, the contract could reach $2.0 billion for this expansion and roughly $9.0 billion across the broader partnership. Cipher will deliver 39 MW of additional critical IT load, backed by 56 MW of gross capacity. Google increased its support of Fluidstack’s lease obligations by $333 million, bringing total backing to $1.73 billion. Funding will come from project-related debt and $118 million in additional equity.
The company expects strong financial performance, projecting 85–90% net operating income margins and $9–$10 million per MW in project costs. The expansion reinforces Cipher’s HPC position and supports its 3.2 GW development pipeline.
Shares of Cipher Mining rose 13% following the announcement, after earlier gains from Nvidia’s strong results.
