Mentioned:
CIFR -12.15% CLSK -6.97%
Cipher Mining is deepening their bet on the future of high performance computing. Which is exactly why they’ve just bought a massive amount of land in Ohio.
What’s happening:
- Cipher Mining (NASDAQ: CIFR) has purchased 195 acres of land in Ohio to develop a new data centre for high performance computing
Why it matters:
- The new site in Ohio has 200 megawatts of total power capacity and has utility agreements already in place with AEP Ohio
Going deeper:
- Cipher Mining’s purchase of an additional 200 megawatts of power capacity brings their total development pipeline to 3.4 gigawatts across 8 different locations in the United States
- Cipher Mining previously made waves on Wall Street when they landed a $3B USD deal with Fluidstack for artificial intelligence workloads, which is partially backstopped by Google (NASDAQ: GOOG)
The intrigue:
- Bitcoin mining companies have been aggressively purchasing new sites for data centres lately as the race for securing power for high performance computing and hosting GPUs continues to ramp ups, including CleanSpark (NASDAQ: CLSK) acquiring the rights to 271 acres of land in Austin County, Texas
The fine print:
- Cipher Mining has not yet publicly disclosed what they paid for the new site in Ohio
