Cipher Mining has acquired a 200-megawatt energy website in Ohio referred to as “Ulysses,” marking its first growth outdoors of Texas and entry into the PJM wholesale electrical energy market, the biggest energy market in the USA.
In accordance with Tuesday’s announcement, the 195-acre website 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 stated the ability is appropriate for high-performance computing and knowledge middle use along with Bitcoin (BTC) mining. Monetary phrases of the transaction weren’t disclosed.
The transfer goals to satisfy rising demand from hyperscalers, giant cloud computing corporations resembling Amazon Internet Companies and Google Cloud, for knowledge facilities. “Hyperscalers are driving unprecedented demand for large-scale websites,” stated Cipher CEO Tyler Web page, including that the corporate’s new website will give it extra capability to broaden 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 middle 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 middle 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. ft at a logistics facility in Sparks, Nevada, to broaden its US manufacturing footprint, in response to The Miner Magazine.
Associated: How Bhutan is constructing a inexperienced Bitcoin economic system from the bottom up
Bitcoin mining hashprice places stress on miners
The Bitcoin mining hash value, a key measure of miner income per unit of computing energy, has been beneath $40 since mid-November, a degree many operators view as breakeven. The stoop has compelled mining corporations to reassess their working fashions as margins throughout the sector stay below stress.
Bitcoin hash value over the previous three months. Supply: Hashrate Index
Whereas many miners have sought diversification by AI and HPC demand, some are additionally turning to renewable vitality as a option 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 website in Texas and is creating adaptive mining rigs that use AI to optimize vitality effectivity.
Regardless of the mounting stress 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 reasonably than near-term Bitcoin manufacturing alone.
Among the many prime 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%), in response to knowledge from Google Finance.
Iren Restricted YTD inventory value. Supply: Google Finance
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