Cipher Digital Stock Soars on Texas Data Center Power Approval
Cipher Digital's stock price surged by around 14% on Wednesday after its Texas data centers secured crucial power supply approval.
The Electric Reliability Council of Texas (ERCOT) confirmed that Cipher's data center network has a grid capacity of up to 3.2 gigawatts, following the publication of results through its Batch Zero evaluation framework.
Six sites received new power designations covering approximately 3.1 gigawatts in total, with two sites receiving Conditional Base Load status and four others landing Conditional Studied Load status.
Cipher Digital's existing data centers are already operational, with three sites accounting for 807 megawatts currently in use. The company plans to meet the requirements of a full audit of its power plans and will publish final site tags in December.