Cipher Mining (CIFR) Advances AI & HPC Infrastructure With Ulysses Site Buy

Core Viewpoint - Cipher Mining Inc. has made a strategic acquisition of a 200MW Ulysses site in Ohio, marking its first acquisition outside Texas, which aligns with its ambitions in high-performance computing (HPC) growth [1][2][3] Acquisition Details - The Ulysses site spans 195 acres and has secured capacity from AEP Ohio, with all necessary utility agreements and interconnection approvals in place, expected to begin operations in Q4 2027 [3][4] - This acquisition allows Cipher Mining to enter the PJM market, a key region for AI and HPC demand, providing additional capacity for its HPC hosting business [3][4] Strategic Implications - The Ulysses site is viewed as a medium-term HPC-ready asset due to its acreage, availability of diverse fiber paths, and proximity to a major metropolitan area, supporting Cipher's broader expansion strategy [4] - The firm describes the acquisition as "buying de-risked time-to-power inventory," which reduces early-stage friction and anticipates near-term value creation from hosting announcements and a clearer build plan [5] Development Pipeline - With the addition of the Ulysses site, Cipher Mining's development pipeline now totals 3.4GW across eight sites, although financial terms of the acquisition were not disclosed [6] - The company maintains a bullish outlook on bitcoin and its execution on site development, reaffirming a "Buy" rating with a price target of $28 [6]