Cipher Mining Inc., a bitcoin mining company listed on Nasdaq, has announced the acquisition of a 250-acre site in West Texas.
Cipher Mining Secures Strategic Site for Bitcoin Mining Expansion
According to Cipher Mining’s (Nasdaq: CIFR) announcement, the new facility, known as the Stingray site, will add 100 megawatts (MW) of front-of-the-meter capacity to its data center operations, furthering its strategic growth in industrial-scale bitcoin (BTC) mining.
The transaction, according to the press release, includes a $4.1 million cash payment and a $1.5 per megawatt-hour variable fee for the initial five years of the site’s operation. With necessary regulatory approvals secured and a facility extension agreement finalized with ONCOR, the site is expected to begin power consumption in the first half of 2026.
The addition of the Stingray site increases Cipher‘s portfolio and pipeline to a combined total of 2.6 gigawatts (GW) across 11 sites. According to Cipher’s CEO Tyler Page, the acquisition aligns with the company’s broader plans, complementing other projects scheduled to launch in 2025 and 2027.
“We are very pleased to add the new 100 MW Stingray data center site to our expanding pipeline. With the addition of this site, we now have a data center scheduled to energize in 2026 that complements our other new data centers scheduled to energize in 2025 and 2027,” Page remarked on Wednesday.
Located adjacent to existing transmission assets, the Stingray site is designed to enhance Cipher’s operational efficiency in the high-performance computing (HPC) and BTC mining sectors. The expansion, Cipher noted, reflects a growing focus on large-scale data center development to meet increasing demand for HPC hosting and digital asset mining.
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