Cipher Mining acquires 200 MW Ohio site for AI workloads

Core Insights - Cipher Mining has acquired a 200-megawatt site in Ohio named Ulysses, which will support high-performance computing workloads and is expected to be energized in Q4 2027 [1][2] - The Ulysses site spans 195 acres and includes secured capacity from AEP Ohio along with all necessary interconnection approvals [1] - This acquisition marks Cipher's first outside of Texas, expanding its total development pipeline to 3.4 gigawatts across eight sites [2] Operational Details - Operations at the Ulysses site will connect directly to the PJM market, benefiting from diverse fiber paths and proximity to a metropolitan hub [2] - In November, Cipher signed a hosting agreement with Fluidstack for 56 megawatts over a 10-year term focused on AI hosting [3] - The company recently raised $333 million through additional senior secured notes to fund its growth initiatives [3] Market Reaction - Following the announcement of the acquisition, Cipher's stock (CIFR) dropped by 3% during pre-market trading hours [3]