Alphabet secures 2.4 GW in lease capacity, deepening ties with miners shifting to AI

Alphabet has secured lease agreements covering about 2.4 gigawatts of capacity across 10 projects as it works with operators such as Cipher Mining that are moving from Bitcoin mining into AI infrastructure. The company is using those partnerships to source power for AI data centers, according to Techub, citing CryptoBriefing. The report also says Alphabet had previously provided a $1.4 billion guarantee for a 10-year, $3 billion AI hosting lease between Fluidstack and Cipher Mining. In connection with that arrangement, Alphabet obtained roughly a 5.4% equity stake in Cipher Mining. Separately, Alphabet is also planning to acquire clean energy developer Intersect Power in a deal valued at $4.75 billion. The developments point to a broader push by the company to secure power capacity and related infrastructure as demand tied to AI computing expands.