Cipher Mining Announces the Closing of its Acquisition of Barber Lake 300 MW Data Center Site

Core Viewpoint - Cipher Mining Inc. has successfully acquired the Barber Lake data center site in West Texas for $67.5 million, which includes 250 acres of land and a high-to-mid voltage substation with a capacity of 300 MW, enabling participation in the ERCOT market [1][2][3] Group 1: Acquisition Details - The acquisition was funded through the sale of a portion of the company's bitcoin inventory [1][3] - The site features a fully energized substation and all necessary regulatory approvals, making it suitable for hosting large HPC customers or bitcoin mining [2][3] - The company has entered into agreements necessary for participation in the ERCOT market [2] Group 2: Strategic Importance - The acquisition is seen as a strategic move to enhance the company's portfolio, which will grow to over 2.5 GW across 10 sites [4] - The CEO of Cipher Mining expressed that the site is a rare and valuable asset, ideal for large-scale operations, and has already attracted interest from multiple hyperscalers [3] Group 3: Company Overview - Cipher Mining is focused on developing and operating bitcoin mining data centers, aiming to strengthen the Bitcoin network's infrastructure [5]