Cipher Mining Inc. (NASDAQ: CIFR) has announced the acquisition of a new 300 MW data center site in West Texas, expanding the company's data center portfolio to over 2.5 GW across 10 locations. The acquisition, valued at $67.5 million, includes a variable fee of $3/MWh for the first five years post-energization.

The 250-acre site features a fully energized high-to-mid voltage substation and has all necessary regulatory approvals to participate in the ERCOT market. The site's infrastructure is well-suited for both High-Performance Computing (HPC) and bitcoin mining operations, giving Cipher multiple options to maximize its value.

Tyler Page, CEO of Cipher Mining, expressed excitement about the acquisition, noting the rarity and strategic importance of such a high-quality, immediately available site. The transaction is expected to close in September, pending due diligence.

Source: investors.ciphermining.com