Cipher Mining (US:CIFR) 智通财经网·2025-11-20 14:51Core Viewpoint - Cipher Mining is transitioning towards high-performance computing (HPC) and artificial intelligence infrastructure, which is reflected in its recent partnership with AI cloud platform Fluidstack, potentially generating significant revenue over the next decade [1] Group 1: Partnership and Revenue Potential - Cipher Mining's stock price increased over 12% to $16.515 following the announcement of a 10-year HPC hosting agreement with Fluidstack, which could yield approximately $8.3 billion in contract revenue during the initial term [1] - The partnership includes two additional five-year renewal options, potentially increasing total revenue to around $20 billion, with the overall lease value reaching approximately $90 billion [1] Group 2: Financial Support and Infrastructure Expansion - Google is providing $333 million in guarantee support for Fluidstack's lease obligations to assist in financing the project [1] - Cipher plans to expand its Barber Lake data center in Texas by adding 39 MW of IT load, supporting Fluidstack's AI HPC cluster, which will utilize the entire 300 MW capacity of the site [1] Group 3: Debt Issuance - Cipher's wholly-owned subsidiary, Cipher Compute, plans to issue $333 million in senior secured notes maturing in 2030, which will be combined with previously issued notes [2] - Following this issuance, Cipher Compute's total outstanding notes will increase to $1.733 billion, with proceeds aimed at further developing the new HPC data center at Barber Lake [2]