Markets

Cipher Mining Rises on Google AI Hosting Deal

Google takes 5.4% stake via $3B partnership with Fluidstack

Cipher Mining (CIFR) shares jumped after Google struck a long-term AI hosting deal with Fluidstack, securing warrants for about 24 million CIFR shares—equal to a 5.4% stake.

The agreement, worth $3 billion over 10 years and potentially up to $7 billion with extensions, will see Cipher deliver 168 megawatts of high-performance computing capacity at its Lake Barber site in Colorado City, Texas, by September 2026.

Google will also guarantee $1.4 billion of Fluidstack’s lease obligations, supporting financing for the project. Cipher will keep full ownership of the facility and may tap capital markets to fund expansion.

CIFR stock spiked as much as 20% before easing to a 5% premarket gain. The miner’s shares have surged nearly seven-fold since April as the sector pivots from Bitcoin mining toward AI and HPC infrastructure.