Cipher Mining Inc. (NASDAQ:CIFR) has announced the completion of a deal to acquire a new power plant called Stingray in West Texas for $4.1 million in cash and a floating fee of $1.50 per megawatt-hour for the first five years after the plant is energized. The 250-acre site has received approval and has signed an agreement to expand its facilities up to 100 megawatts.
According to Cipher's CEO Tyler Page, "With the addition of this site, we now have a data center planned for use in 2026 that will complement our other new data centers planned for use in 2025 and 2027." With the new site, Cipher's active investment portfolio and development channels will total 2.6 GW across 11 sites.