- Cipher Mining signed a 15-year lease with Amazon Web Services worth $5.5 billion for AI workload space and power.
- The contract is planned in two phases starting July and August of next year.
- Cipher Mining reported a reduced net loss of $3 million and increased adjusted earnings to $41 million in Q3.
- Google holds a 5.4% stake in Cipher Mining following a $3 billion deal involving AI data center services.
- Cipher Mining also leads a joint venture to develop a 1-gigawatt AI Hosting site in West Texas.
Cipher Mining, a Bitcoin mining company, announced a 15-year lease deal with Amazon Web Services. The agreement, valued at $5.5 billion, involves providing space and power specifically for Artificial Intelligence (AI) workloads. The delivery will occur in two phases starting from July and August 2025.
In its third-quarter financial report, Cipher Mining posted a net loss of $3 million, a significant improvement from the $46 million loss reported in the previous quarter. Additionally, the company’s adjusted earnings rose to $41 million, up from $30 million. Following the announcement, Cipher’s stock increased by more than 32%, briefly reaching $24.80.
In September, Google acquired a 5.4% stake in Cipher Mining through a $3 billion multi-year data center partnership involving AI-focused company Fluidstack. Cipher’s CEO, Tyler Page, highlighted the importance of these deals, stating, “We are now following that transaction with another major step forward by signing our first direct lease with a Tier 1 hyperscaler.”
Apart from the Amazon partnership, Cipher Mining also holds a majority interest in a joint venture to build a one-gigawatt AI hosting facility in West Texas called Colchis. The company is financing most of the project and will own 95% equity. Larger tech firms are increasingly collaborating with Bitcoin miners, as seen in recent contracts between Microsoft and IREN, and between Fluidstack and TeraWulf.
For more details, see the official press release and track stock activity at Google Finance.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- GF Securities Upgrades Apple Stock to Buy, Target $308
- Spot Solana ETFs See Strong Demand Despite SOL Price Drop
- Microsoft to Ship 60,000 Nvidia AI Chips to UAE in $15B Deal
- Tesla’s Sweden Sales Plunge 89% in October Amid Europe EV Slump
- Strategy Diluted $54.4M Shares, Bought 34% Less Bitcoin
