Cipher Mining Secures $3 Billion AI Data Hosting Deal with Fluidstack; Google Takes Stake
Sep 25, 2025
Cipher Mining Inc., a company known for owning and operating large-scale data centers, has signed a major 10-year hosting agreement with Fluidstack, an artificial intelligence (AI) cloud platform. The contract, valued at around $3 billion over its term, will see Cipher deliver 168 megawatts (MW) of high-performance computing power by September 2026.
As part of the deal, Google has backed $1.4 billion of Fluidstack's financial obligations and has received about a 5.4% equity stake in Cipher Mining. This partnership highlights Cipher's shift into becoming a significant developer of AI data centers, moving beyond its roots in Bitcoin mining.
The agreement is expected to bring substantial long-term revenue to Cipher Mining and marks a step forward in its development pipeline of around 2.4 gigawatts (GW) of capacity. Although Cipher's stock rose with the announcement, it later slipped from all-time highs, possibly due to other financial activities such as a recent private offering of convertible notes.
What does this deal mean for Cipher Mining?
It secures about $3 billion in revenue over ten years and positions the company as a major player in AI data center development.
Why is Google involved?
Google has financially backed part of the deal and taken a 5.4% stake in Cipher Mining, showing confidence in the company's shift toward AI infrastructure.
Will Cipher Mining still focus on Bitcoin mining?
While the company started as a Bitcoin miner, this deal shows a move to expand into AI data center services as well.
Why did the stock price go down after the announcement?
Despite the positive news, the stock slipped from its high, possibly due to Cipher Mining's recent private offering of convertible notes.
Sources
Cipher Mining Signs 168 MW, 10-Year AI Hosting Agreement with Fluidstack
GlobeNewsWire
GlobeNewsWire
Transaction Secures ~$3 Billion in Contracted Revenue over 10-Year Term Expected Delivery of 168 MW of Critical IT Load by September of 2026 Google Backstops $1.4 Billion of Fluidstack's Obligations and Receives ~5.4% Equity Stake in Cipher Establishes Cipher, with its ~2.4 GW Pipeline, as a Major A...
Bitcoin Miner Cipher Jumps On $3 Billion HPC Deal. Google Takes Stake.
Investors Business Daily
Investors Business Daily
Cipher Mining lands $3 billion HPC colocation hosting deal with AI firm Fluidstack. Google takes stake in the bitcoin miner.
Why is Cipher Mining stock slipping despite $3 billion AI hosting deal
Invezz
Invezz
Cipher Mining Inc (NASDAQ: CIFR) announced a landmark $3 billion artificial intelligence (AI) hosting agreement with Fluidstack today. The 10-year deal includes financial backing from Google as well – indicating strong institutional interest in CIFR's pivot toward high-performance computing.
Bitcoin miner Cipher secures $3B Google-backed AI hosting deal
Invezz
Invezz
Google has expanded its push into artificial intelligence (AI) infrastructure by taking a 5.4% equity stake in Cipher Mining, one of the largest publicly traded Bitcoin mining companies in the United States. The investment is tied to a decade-long hosting deal with Fluidstack, a UK-based AI cloud in...
CIFR Slides from All-Time High After Securing $3B Fluidstack Deal
Cipher Mining (CIFR) reached a 10-year, $3 billion agreement with Fluidstack to enhance the company's data centers in Texas. Jeff Pierce adds that Cipher's connection to Alphabet (GOOGL) gives it more of an edge but points to a $800 million private offering of convertible notes as a potential reason...
Google Just Made Cipher Mining An AI-Crypto Hybrid Bet
Benzinga
Benzinga
Cipher Mining Inc (NASDAQ: CIFR) just landed one of the most eye-catching endorsements in crypto infrastructure: Alphabet Inc (NASDAQ: GOOGL) (NASDAQ: GOOG). Google took a 5.4% stake in the Bitcoin (CRYPTO: BTC) miner, securing roughly 24 million warrants as part of a 10-year, $5 billion AI hosting...
Cipher Mining Inc. (CIFR) Falls More Steeply Than Broader Market: What Investors...
Zacks Investment Research
Zacks Investment Research
Cipher Mining Inc. (CIFR) closed the most recent trading day at $11.64, moving 17.72% from the previous trading session.
Cipher Mining Grabs $1.1 Billion for Expansion—Zero Interest, All Growth Power
Benzinga
Benzinga
Cipher Mining, Inc. (NASDAQ: CIFR) shares have fallen more than 10% since the company first announced its convertible note offering on Thursday morning.
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