Cipher Mining Inc., a Nasdaq-listed bitcoin mining company, has announced the acquisition of a 250-acre site in West Texas to build a new data center. The facility, named Stingray, will add 100 megawatts (MW) of front-of-the-meter capacity to its operational portfolio, further cementing the firm's strategic expansion in industrial-scale bitcoin mining.
Transaction Details and Timeline
According to the press release, the deal includes a $4.1 million cash payment and a variable fee of $1.5 per megawatt-hour for the first five years of operation. With necessary regulatory approvals already secured and a facility extension agreement signed with ONCOR, the Stingray site is expected to begin power consumption in the first half of 2026.
Accelerating Hashrate Deployment, Nearing 3GW Total
The addition of the Stingray site brings Cipher Mining's combined portfolio and pipeline to 2.6 gigawatts (GW) across 11 sites. CEO Tyler Page commented: "We are very pleased to add the new 100 MW Stingray data center site to our expanding pipeline. It complements our other new data centers scheduled to energize in 2025 and 2027." The expansion highlights miners' rush to secure low-cost power resources ahead of the next halving cycle.
Strategic Location and Dual-Use Potential
Located adjacent to existing transmission assets, the Stingray site is designed to enhance Cipher's operational efficiency in both high-performance computing (HPC) and bitcoin mining. The company noted that the move reflects the growing industry focus on large-scale data center development to meet demand for HPC hosting and digital asset mining simultaneously. As Bitcoin network hashrate continues to hit new highs, securing cheap power early is becoming a critical competitive edge.