After a long break, here is some current information on $CIFR (+0,28 %) one of my portfolio stocks.
NEW YORK - Cipher Mining Inc. (NASDAQ:CIFR) announced the acquisition of a 200-megawatt site called Ulysses in Ohio on Tuesday, marking its first expansion outside of Texas.
The transaction includes 195 acres of land and secured power capacity from AEP Ohio; all necessary utility contracts have been finalized. According to the company's press release, commissioning of the site is planned for the fourth quarter of 2027.
The Ulysses site will provide Cipher with direct access to PJM, the largest wholesale power market in the United States. The company noted that the site's size, commissioning schedule, diverse fiber connectivity and proximity to a major metropolitan area make it suitable for high-performance computing (HPC) applications.
"Hyperscalers are driving unprecedented demand for large sites," said Tyler Page, CEO of Cipher Mining, in the announcement.
The acquisition represents geographic diversification for Cipher, which previously focused its operations in Texas. With this addition, the company says its development pipeline now totals 3.4 gigawatts across eight sites.
Cipher Mining focuses on the development and operation of industrial-scale data centers for Bitcoin mining and HPC hosting. The company aims to expand its capacity for HPC hosting services while growing its geographic footprint in the data center market.
The acquisition of the site includes all necessary network connection approvals to participate in the PJM market. This positions the company to serve the potentially increasing demand for computing infrastructure in the region once the facility is operational.
As a result, Compass Point continues to rate the company as a "Buy" with a new price target of USD 28.
I remain invested here too, the pipeline is ample and the first HPC hosting contracts have been secured. What is even more important in my view, however, is securing the power capacities for the data center capacities, which in my view is currently the biggest risk for all new data centers to be built due to the immense increase in power requirements. So all in all, I think it's a good deal!
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