Cipher Mining has expanded exterior of Texas for the primary time with the acquisition of a 200-megawatt energy plant in Ohio known as Ulysses, coming into the PJM wholesale energy market, the biggest electrical energy market in america.
The 195-acre website has secured energy capability from AEP Ohio, all essential utility contracts are in place and is anticipated to be energized within the fourth quarter of 2027, in line with Tuesday’s announcement.
Cipher mentioned the ability is appropriate for Bitcoin (BTC) mining in addition to high-performance computing and information heart functions. Monetary phrases of the deal weren’t disclosed.
The transfer is geared toward assembly rising demand for information facilities from hyperscalers, main cloud computing corporations similar to Amazon Net Companies and Google Cloud. “Hyperscalers are driving unprecedented demand for large-scale websites,” mentioned Cipher CEO Tyler Web page, including that the corporate’s new website will give it further capability to develop its high-performance computing (HPC) internet hosting enterprise.
sauce: crypto mining
The deal follows intensive efforts by publicly traded Bitcoin miners to increase past conventional mining to energy, information heart, and manufacturing infrastructure.
For instance, Hut 8 just lately signed a 15-year lease value roughly $7 billion to supply 245 megawatts of AI information heart capability at its Riverbend, Louisiana campus. Infrastructure supplier Fluidstack would be the tenant, and Google will assist lease funds.
A number of days later, Bitdeer leased roughly 188,000 sq. ft of land at its Sparks, Nevada, distribution facility to broaden its U.S. manufacturing footprint, in line with The Miner Magazine.
Associated: How Bhutan is constructing a inexperienced Bitcoin financial system from scratch
Bitcoin mining hash worth places strain on miners
The hash worth for Bitcoin mining, a key measure of miner income per unit of computing energy, has been beneath $40 since mid-November, a degree that many operators think about break-even. Margins throughout the sector stay underneath strain, and the recession is forcing mining corporations to reevaluate their working fashions.
Bitcoin hash worth over the previous 3 months. sauce: hash fee index
Many miners wish to diversify by means of the demand for AI and HPC, whereas others are turning to renewable power as a strategy to scale back prices and stabilize profitability.
Sanga Renewables just lately commissioned a 20-megawatt photo voltaic mining facility in Ector County, Texas, and Phoenix Group began a 30-megawatt hydropower undertaking in Ethiopia in November.
Individually, Canaan partnered with Soluna in September to deliver mining capability to a wind farm in Texas and is creating an adaptive mining rig that makes use of AI to optimize power effectivity.
Regardless of growing strain on the mining financial system, Bitcoin mining shares have soared in 2025, displaying that public markets are more and more targeted on miners’ long-term strategic positioning, moderately than simply short-term Bitcoin manufacturing.
Among the many prime 5 listed miners, IREN Restricted is up about 331% because the starting of the yr, adopted by Utilized Digital (246%), Cipher Mining (250%), Hut 8 (160%), and Riot Platforms (36%), in line with Google Finance information.
Iren Restricted year-to-date inventory worth. sauce: Google Finance
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