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Cipher Mining (NASDAQ:CIFR) entered right into a time period sheet to purchase a brand new information middle web site in West Texas for $67.5M in money and a variable payment of $3 per megawatt hour, the corporate stated on Tuesday.
The 250-acre web site contains 300 megawatts of front-of-the-meter capability, a newly constructed, absolutely energized, high-to-mid voltage substation, and all obligatory regulatory approvals and contracts.
As a part of the deal, Cipher (CIFR) will purchase all of the land surrounding the substation and agreements essential to take part within the ERCOT market.
Cipher (CIFR) is wrapping up due diligence on the location and expects to shut the transaction in September.
With this acquisition and different lately introduced purchases, Cipher’s portfolio will develop to greater than 2.5 GW throughout 10 websites, and we’re on a path to change into one of many largest builders and operators of large-scale information facilities on this planet,” stated Cipher CEO Tyler Web page.
(CIFR) gained 2.4% in after-hours buying and selling.
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