Benzinga·2025-11-04 09:01Core Insights - Cipher Mining Inc. has significantly benefited from partnerships with Amazon and Fluidstack, enhancing its credibility and image in the market [1][4]. - The CEO highlighted a shift in perception regarding former Bitcoin miners, indicating that these collaborations have dispelled doubts about their ability to attract traditional hyperscalers [2][3]. Company Developments - Cipher Mining has transitioned from being solely a Bitcoin miner to an AI-infrastructure provider, marked by a $5.5 billion data center deal with Amazon Web Services and a $3 billion, 10-year colocation deal with Fluidstack, which includes support from Google [4]. - The company reported third-quarter revenue of $71.71 million, which fell short of analyst estimates of $78.6 million, but its adjusted earnings of 10 cents per share exceeded expectations of a loss of 2 cents per share [7]. Industry Trends - The broader industry is witnessing a trend where Bitcoin miners are converting their facilities into data centers to support high-performance computing and AI services [5]. - Analysts predict that by the end of 2027, approximately 20% of Bitcoin miner power capacity will be redirected towards AI and high-performance computing [6].