Cipher Digital Shares Leap on AI Data Center Launch Plans
Cipher Digital's shares surged 11.25% to $16.79 on Tuesday, driven by investor interest in the company's transformation from a bitcoin mining operator to an AI data center developer.
The company is set to launch its Google-backed Barber Lake AI Data Center this month, which will deliver 168 megawatts of critical IT load and up to 244 megawatts of gross capacity across 587 acres in Texas.
Cipher has a total contracted backlog of approximately $9.3 billion, anchored by three separate hyperscale leases with Amazon Web Services, an unnamed investment-grade tenant, and Fluidstack, backed by Google.