Cipher Mining has acquired a 200-megawatt energy web site in Ohio known as “Ulysses,” marking its first growth outdoors of Texas and entry into the PJM wholesale electrical energy market, the most important energy market in america.
In line with Tuesday’s announcement, the 195-acre web site has secured energy capability from AEP Ohio, with all required utility agreements in place, and is predicted to be energized within the fourth quarter of 2027.
Cipher mentioned the ability is appropriate for high-performance computing and knowledge heart use along with Bitcoin (BTC) mining. Monetary phrases of the transaction weren’t disclosed.
The transfer goals to fulfill rising demand from hyperscalers, massive cloud computing firms comparable to Amazon Net Providers and Google Cloud, for knowledge facilities. “Hyperscalers are driving unprecedented demand for large-scale websites,” mentioned Cipher CEO Tyler Web page, including that the corporate’s new web site will give it further capability to develop its high-performance computing (HPC) internet hosting enterprise.
Supply: Cipher Mining
The deal follows a broader push by publicly listed Bitcoin miners into energy, knowledge heart and manufacturing infrastructure past conventional mining.
Hut 8, for example, not too long ago signed a 15-year lease price about $7 billion to provide 245 megawatts of AI knowledge heart capability at its River Bend campus in Louisiana, with infrastructure supplier Fluidstack because the tenant and Google backing lease funds.
A couple of days later, Bitdeer leased about 188,000 sq. toes at a logistics facility in Sparks, Nevada, to develop its US manufacturing footprint, based on The Miner Magazine.
Associated: How Bhutan is constructing a inexperienced Bitcoin economic system from the bottom up
Bitcoin mining hashprice places strain on miners
The Bitcoin mining hash value, a key measure of miner income per unit of computing energy, has been under $40 since mid-November, a degree many operators view as breakeven. The droop has pressured mining firms to reassess their working fashions as margins throughout the sector stay beneath strain.
Bitcoin hash value over the previous three months. Supply: Hashrate Index
Whereas many miners have sought diversification via AI and HPC demand, some are additionally turning to renewable vitality as a approach to decrease prices and stabilize profitability.
Sangha Renewables not too long ago introduced a 20-megawatt solar-powered mining facility on-line in Ector County, Texas, whereas Phoenix Group launched a 30-megawatt hydro-powered operation in Ethiopia in November.
Individually, Canaan partnered with Soluna in September to deploy mining capability at a wind-powered web site in Texas and is creating adaptive mining rigs that use AI to optimize vitality effectivity.
Regardless of the mounting strain on mining economics, Bitcoin mining shares have rallied sharply in 2025, signaling that public markets are more and more targeted on miners’ long-term strategic positioning somewhat than near-term Bitcoin manufacturing alone.
Among the many high 5 publicly traded miners, IREN Restricted is up roughly 331% year-to-date, adopted by Utilized Digital (246%), Cipher Mining (250%), Hut 8 (160%), and Riot Platforms (36%), based on knowledge from Google Finance.
Iren Restricted YTD inventory value. Supply: Google Finance
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