Cipher

Pearl

Bitcoin

Cipher Mining is expanding its footprint in Texas with the acquisition of a new 300-megawatt data center site in West Texas. The $67.5 million deal, also includes a variable fee of $3 per megawatt-hour for the first five years. The site, equipped with a fully energized substation, is primed for both Bitcoin mining and high-performance computing (HPC) infrastructure, according to <a href="https://theminermag.com/news/2024-08-27/bitcoin-cipher-mining-texas-300mw/">Theminermag.com</a>. 
This latest acquisition comes on the heels of Cipher’s purchase of another 300 MW site, Black Pearl, in Winkler County, Texas. The Black Pearl site, expected to be fully energized by 2025, already accounts for $20 million in construction expenses. Additionally, Cipher plans to replace less efficient miners at its Odessa Facility with new 7.1 EH/s machines originally intended for Black Pearl. This strategic shift underscores Cipher's commitment to optimizing its mining operations as it continues to grow its presence in Texas. 
The new West Texas site also includes 250 acres of surrounding land and participation in the ERCOT market, further solidifying Cipher’s position in the state's energy sector. The transaction is expected to close in September, pending due diligence.

Texas Bitcoin Boom: Cipher Mining Secures Second 300 MW Site

Ultramining_Eng

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